A freehold residential site on Robin Road has been launched for en bloc sale, with an indicative price of S$58 million.
Located off Bukit Timah Road, the 40-year-old site sits on a 23,084 sq ft land plot situated directly across The Chinese International School and Singapore Chinese Girls Primary School, as well as 250m away from the upcoming Stevens MRT station.
The S$58 million price tag translates to around S$1,782 psf ppr based on a gross plot ratio (GPR) of 1.4 (approximately S$1,620 psf ppr based on a GPR of 1.54). The site can be redeveloped into a 56-unit apartment block with an average size of 600 sq ft.
Credo Real Estate, which is marketing the property, said no development charge (DC) is payable for the redevelopment of the site up to the allowable plot ratio of 1.4 plus 10 percent balcony GFA.
The tender for the site will close on 5 October 2011.
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