Jones Lang LaSalle has launched the 4-storey, 20-unit Naung Court site for collective sale by tender.
Located at Jalan Naung, the 32,689-sq-ft freehold site is zoned for residential use. It has a gross plot ratio of 1.4 and a maximum gross floor area of 45,764 sq ft. This can accommodate a residential block of up to 5 storeys, and could potentially yield around 45 apartment units with an average size of 1,000 sq ft each.
The site is located near the Hougang MRT Station, Hougang Bus Interchange, Hougang Plaza and Hougang Mall. It is also served by major roads and expressways, including Kallang-Paya Lebar Expressway (KPE) and the Central Expressway (CTE).
Ms. Stella Hoh, National Director and Head of Investments at Jones Lang LaSalle, said: “With strong take up rate of residential new launches in the vicinity, this site is expected to draw strong interest due to its locality, proximity to amenities and the potential to be redeveloped into a residential development. In addition, it provides a rare opportunity of freehold residential sites within walking distance to Hougang MRT Station and Hougang Mall.”
She added that the “value of the site is also of good bite size to private investors, contractors and developers.”
The tender for Naung Court will close at 3pm on September 14.