The Fernhill Court condominium development located next to Singapore's prime Nassim Road has been placed on the en bloc market at a reserve price of S$125 million, The (Singapore) Business Times reported.
The price tag for the 18-maisonette-unit estate reflects a land rate of S$1,885 per square foot per plot ratio, taking into account a payable S$3.7 million development charge to intensify land utilization, the report added, citing Colliers International.
Owners of the units, which range between 2,271 square feet to 2,982 square feet in size, have fully agreed to the sale. Each unit owner could receive at least S$6.3 million to S$8.3 million from the collective sale, the report added.
The public tender for the estate will start May 16.
As of May 14, US$1 was equivalent to S$1.33.