The freehold katong plot sandwiched between condominiums Amber Skye and King’s Mansion, is near the upcoming Tanjong Katong MRT station that will be on the Thomson-East Coast Line due for completion in 2023.
PUBLISHED 17th August 2017
A freehold plot in Katong located at 12 Amber Road has been put up for sale – another sign that the property sector is on the rebound.
This land parcel is sandwiched between condominiums Amber Skye and King’s Mansion. It is near the upcoming Tanjong Katong MRT station that will be on the Thomson-East Coast Line due for completion in 2023.
It look forward offers between $56.6 million and $61 million for the 22,800 sq ft plot said Marketing agent JLL
That would translate to about $1,199 per square foot per plot ratio (psf ppr) to $1,268 psf ppr.
The estimate development charges in the region to be about $20 million, subject to confirmation.
The prices of apartments in estates next to the site price between $1,800 and $2,000 psf.
“This plot of land stands out as one of the last remaining undeveloped plots along the stretch of Amber Road, a location known for its high-rise apartments and seaside living,” said Ms Yong.
The site currently occupied four vacant old houses, can be redeveloped into a project of about 24 to 26 storeys, analysis said.
It was put on the market by the executors of the estate of the late owner.
Offers close at 2.30pm on Sept 21.
Dr Lee Nai Jia, head of research at Edmund Tie and Company, said there will be keen interest in the site, especially from construction companies and smaller developers.
“There will be interest, especially after the pick-up in sales in the area after the successful launch of Seaside Residences in Siglap,” he noted.
“There is much old money in the area, and it has the additional benefit of being near an MRT station in the future.”
Source: Straits times
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