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3 freehold sites put up for collective sale in Singapore

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3 freehold sites put up for collective sale in Singapore

Three freehold plots in Singapore, of which two are in prime districts, have been placed on the en bloc market, The (Singapore) Business Times reported, citing the sites' marketing agents.

The largest of the three residential developments, Elizabeth Towers, in Mount Elizabeth in District 9, has an asking price of S$610 million, reflecting a land rate of about S$2,416 per square foot per plot ratio.

Knight Frank Singapore is brokering the sale of the 54,318-square-foot property, which features two residential blocks of 80 units in the range of 1,990 square feet to 4,490 square feet.

Additionally, the 75,479-square-foot Gilstead Court in the Newton/Novena enclave is tendered for collective sale with a S$168 million reserve price, or an effective land rate of S$1,445 per square foot per plot ratio. A development charge is not applicable on the proposed redevelopment, according to the paper, which cited the plot's sole marketing agent, JLL.

The site offers 24 1,390-square-foot apartments and 24 1,464-square-foot apartments across three four-story apartment blocks.

JLL is also marketing a 16,160-square-foot bungalow plot at 12 Broadrick Rd. for between S$22 million and S$24 million, or at a per-square-foot land rate of S$1,361 to S$1,485.

An expression of interest campaign for the bungalow plot will end July 9, while tenders for Gilstead Court and Elizabeth Towers will close July 10 and July 19, respectively, The Business Times said.

As of June 6, US$1 was equivalent to S$1.33.