16 Mar '11, 1pm

Three properties launched for collective sale

Three properties launched for collective sale

SINGAPORE : Three properties in Newton, Braddell and Bukit Timah were launched for collective sale on Wednesday. Freehold apartment Newton Lodge at 41 Newton Road has a reserve price of S$40 million and a development charge of S$2.18 million. That is according to CB Richard Ellis, the marketing agent for the site. The price translates to S$1,407 per-square-foot-per-plot-ratio (psf ppr) for the 16-unit, 21,409-square-foot apartment with a plot ratio of 1.4. If a developer maximises the bonus 10 per cent balcony space, the price works out to be S$1,340 psf ppr, with a breakeven price of S$1,860 psf. Newton Lodge is 300 metres away from Novena MRT Station, and is well served by a number of shopping malls and medical centres. CB Richard Ellis said some boutique developers and high-net-worth investors have already expressed interest in the site. The tender for Newton Lodge clos...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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