The 48-unit residential development called Pender Court, which is located at the foot of Mount Faber, has become the eighth successful collective sale in the country for 2010.
The property was purchased by Hoi Hup Realty for S$95 million, which translates to about $1,007 psf ppr.
Property consultancy firm Credo Real Estate launched a public tender for the property that ended in May.
The en bloc sale of Pender Court is subject to approval of the Strata Titles Board. With its sale, the owners are expected to receive around S$1.98 million.
The 65,000-sq-ft land area is zoned for residential use. It has a plot ratio of 14 and a maximum allowable height of five storeys.
Credo noted the new development for the property could be configured into 103 residential units with an average size of about 1,000 sq ft, depending on the configuration and layout.
The property is only five minutes drive from Universal Studios, Resorts World, Vivo City and other attractions and amenities at Sentosa.