The 64-unit Kismis Lodge (pictured) off Toh Tuck Road has been launched for collective sale, with homeowners expecting a sale price of S$90 million, said marketing agent Jones Lang LaSalle (JLL). This translates to about S$1,281 psf on the 70,283 sq ft land area and each owner could fetch S$1.4 million.
The freehold site has been zoned for three-storey mixed landed development under the 2008 Master Plan. It could be developed into 43 strata terrace houses, or a combination of conventional and strata landed homes, subject to approval.
Yong Choon Fah, National Director of JLL, highlighted the property’s location as the main selling point. Kismis Lodge is located within an established residential area near the Bukit Timah and Bukit Batok Nature Reserves, the upcoming Beauty World MRT station and schools.
“Cluster housing developments in good locations have proven to consistently receive strong buying interest from Singaporeans, as they provide the convenience of shared facilities just like condominium units,” said Yong.
“Given its location, we believe that the new development at Kismis Lodge could easily achieve between S$3.5 million to S$4.0 million for its strata terraces.”
Over 80 percent of owners have approved the collective sale and the tender will close on 24 January.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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