Olina Lodge, a 20-year-old freehold private condominium at Holland Hill, has been put up for en bloc sale with an indicative price of S$225 million, approximately S$1,666 psf ppr.
Property consultancy firm DTZ, which is marketing the property, said no development charge (DC) is payable if the 84,288 sq ft property is redeveloped up to a plot ratio of 1.6. However, a development baseline enquiry has been submitted to the Urban Redevelopment Authority (URA) and DTZ will advise interested parties accordingly.
The property, which comprises 67 condo units in a four-storey block, is located in prime district 10, just a few minutes’ drive from the Singapore Botanic Gardens. DTZ said it can be redeveloped into an apartment complex with a maximum height of 12 storeys, under the Master Plan 2008.
It added that the property will most likely attract developers “who are seeking mid-sized residential development sites in sought-after locations that are well accepted by the locals and expatriates alike.”
The tender for the property will close on 6 July 2011.
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