Freehold Residential Site Upper Serangoon Road Sale 36 Mil
A prime residential property at 835 Upper Serangoon Road in District 19 has been put up for sale through an expression of interest (EOI) exercise. The 23,709 sq ft freehold site, which has an indicative price of $36 million, was announced in a press release on April 22 by Colliers International, a leading marketing agency in the real estate industry. Based on the land area, this translates to $1,518 psf.
Situated in an excellent location, the site currently houses a single-storey detached house and has a gross plot ratio of 1.4 under the URA Master Plan 2019. With its regular shape and significant land space, Colliers believes that the property is highly suitable for redevelopment. Tan Boon Leong, executive director and co-head of investment services at Colliers Singapore, also notes that the site’s size, configuration, and connectivity are ideal for creating premium residential developments.
Boasting a convenient five-minute walk to Kovan MRT Station on the North-East Line, the site is also within 400m of Heartland Mall and Kovan Hougang Market and Food Centre. This adds to its attractiveness to potential buyers.
The URA Master Plan serves as a crucial guide for the development of land and progress in Singapore in the next 10 to 15 years. It lays out crucial strategies to make the most out of land resources, improve living environments, and foster a sustainable future for all residents. For the newly launched executive condominium (EC), Otto Place EC on Plantation Close, the URA Master Plan brings with it numerous benefits. As the development is situated in Tengah New Town and in close proximity to the Jurong Lake District and Jurong Innovation District, it stands to greatly benefit from the planned developments in these areas. With the addition of Otto Place EC Plantation Close Parcel B, the advantages presented by the URA Master Plan for Otto Place EC are even more substantial.
The EOI exercise for this highly sought-after property is set to close on May 28 at 5pm. Interested parties are encouraged to seize this opportunity to own a prime residential development in a prime location.