Freehold Makeway View in prime District 9 up for collective sale

23 Jan 2018
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Freehold Makeway View in prime District 9 up for collective sale

Singapore: Edmund Tie & Company (SEA) Pte Ltd is pleased to offer Makeway View, a freehold residential site located in the Newton area for sale by tender. Completed in the late 1980s, Makeway View is an existing 10-storey development comprising 28 apartments and four penthouses.

Sitting on a regular-shaped plot in a tranquil setting, the property has a land area of approximately 3,863.1 square metres (41,582 square feet). It is zoned for residential use at gross plot ratio of 2.8 under the Master Plan 2014. Subject to relevant approvals from the authorities, the site can be developed into a high-rise apartment block of about 21 to 22 storeys with around 154 units assuming an average apartment size of 70 square metres.

Makeway View boosts a very strategic central location within the prestigious and well sought-after District 9. It is located across the road from Newton Food Centre and within one kilometre of Anglo-Chinese School (Barker Road), Anglo-Chinese School (Junior) and St. Joseph Institution Junior. Newton MRT interchange serving the North-South Line and Downtown Line is about 400 metres from the property.

Swee Shou Fern, Senior Director, Investment Advisory commented: “Makeway View offers an excellent opportunity to acquire a freehold site in a prime and central location, yet quietly tucked away in a tranquil environment. The corner site will potentially allow the developer flexibility to design units with 180 degrees unobstructed panoramic views of the city and the lush greenery in its surroundings.”

The asking price is $168 million, which reflects a land rate of $1,589 per square foot per plot ratio (ppr) inclusive of development charge payable of approximately $17 million.

The tender exercise will close on Wednesday, 7 March 2018 at 3pm.

ENDS

 

For further information contact:

Swee Shou Fern (Ms)
Senior Director
Investment Advisory
DID: +65 6393 2523
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media please contact:

Lawrence Lui (Mr)
Senior Executive
Corporate Communications
DID: +65 6393 2510
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

About Edmund Tie & Company

Headquartered in Singapore and supported by offices in Kuala Lumpur and Bangkok, Edmund Tie & Company is an established real-estate consulting firm that operates across Malaysia, Thailand and other countries in Southeast Asia and beyond.

Led by some of the most highly credentialed experience in Southeast Asia, the firm offers a comprehensive and integrated suite of real estate advisory and agency services that includes: commercial and retail agency (covering office and industrial, occupier services and retail); residential agency; investment advisory; auction, tender and private treaty sales; valuation advisory (including statutory valuation and property tax); property management; hospitality management; and research and consulting.

We are committed to providing the highest quality in property consultancy that adds value to the assets of our clients in a manner that exceeds their expectations. We achieve this through a unique insight that springs from our Asian identity, an extensive contact base, a multi-disciplined range of expertise founded on depth of experience, standards that are international and a professional practice that adheres to the highest ethical principles.

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