Freehold Singapore residential site Amber Glades relaunched for en bloc sale

Posted on April 9th, 2008 by Mindy Yong.
Categories: Singapore Real Estate News.

Freehold Singapore residential site Amber Glades relaunched for en bloc sale

By Cheryl Lim,
SINGAPORE : Colliers International will be relaunching the collective sale of Amber Glades, a freehold residential site at Amber Road.

The site has a gross plot ratio of 2.8 and consists of two 10-storey tower blocks with 63 units in total.

About 90 percent of the owners have agreed to the sale and are asking for about S$127 million. Including the estimated development charge of S$3.5 million, the price will work out to about S$1,140 per square foot per plot ratio. This is lower than the previous asking price of S$145 million six months ago.

Based on the 2003 Master Plan, the site is zoned for residential use with a gross plot ratio of 2.8. The new development can accommodate a residential development with up to 88 units at 1,300 square feet each.

The tender sale will close on April 23 at 3pm. - CNA /ls

Source : Channel NewsAsia  - 09 April 2008

Singapore Property - Buy , Sell , Rent , Invest

Mindy Yong

(+65)91002985

mindy@mindyyong.com

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