A 72-unit freehold condominium complex on Singapore's Balestier Road was placed on the en-bloc sale market at an expected price of at least S$218 million, The (Singapore) Business Times reported, citing the property's marketer, Teakhwa Real Estate.
The price of the 61,951.8-square-foot Balestier Regency estate translates to a S$1,264.90 per square foot per plot ratio land rate, which takes into account a S$1.35 million development charge, the May 23 report noted. Teakhwa said the site comes with a 36-story height limit, including an up to 173,408.9-square-foot allowable gross floor area for a new development containing approximately 230 apartments each measuring an average 753 square feet.
Closing of tender submissions for the property will take place June 21 at 3 p.m. local time, according to the report.
As of May 23, US$1 was equivalent to S$1.34.
