Balestier Terraces Enbloc Sealed

15 FH terrace owners in Balestier (Jln Bunga Raya) sold their properties collectively for $61m, making each owner richer by abt $4m.

Land area occupied by the houses is about 24k sf. But if a road can be included as well (subjects to SLA approval), then the area can expand to abt 33k sf. The plot, with a plot ratio of 2.8, can build approximate 56units of 1,500sf each, up to 36-storey high. DC payable is abt $263k. This worked out to be abt $739psf ppr.

The buyers are a Chinese property developer with a Singaporean partner.

* AsiaOne-BT:Enbloc , AsiaOne-ST:Enbloc *