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Collective sale for Singapore freehold site launches with S$882M asking price

Owners of the Spanish Village freehold residential site along Singapore's Farrer Road are offering to collectively sell the property for S$882 million, The (Singapore) Business Times reported, citing marketing agent Edmund Tie & Co.

The asking price reflects a land rate of S$1,721 per square foot per plot ratio.

The 331,457-square-foot Spanish Village estate carries a 1.6 gross plot ratio and comprises 226 apartments, according to the June 4 report.

A S$30 million development charge is included in the asking price for the property's tender, which will run until July 18 at 10 a.m. local time, the paper added.