Charlesville, a freehold residential development at Paya Lebar, has been released for collective sale through a public tender.
The sale of the five-storey, 18-unit development at Upper Paya Lebar Road is being handled by Huttons. At least 16 of its 18 owners have already agreed to the sale, with an indicative price of approximately $31 million. And a development charge of about $2.9 million will be payable.
The 34,160-sq-ft site has a plot ratio of 1.4 and a maximum gross floor area (GFA) of about 42,000 sq ft. The winning developer can build a project with a GFA of up to 52,600 sq ft, including an additional 10 percent of space allowed for balconies.
The tender for Charlesville will close on Aug 18.