The owners are expecting offers of above $72.8 million, which translates to a land rate of about $1,864 psf. (Photo: Knight Frank)
One Tree Hill Garden, a freehold landed residential redevelopment site bounded by One Tree Hill, Jalan Arnap and Jalan Kelawar, has been put up for sale by tender, with the owners expecting offers of above $72.8 million ($1,864 psf), revealed marketing agent Knight Frank.
With a site area of around 39,063 sq ft, the three-storey residential development comprises six maisonettes and seven apartments. It is zoned residential, two-storey semi-detached under the 2014 Master Plan, and could potentially be redeveloped into 13 detached and semi-detached houses.
The regular shaped site is within proximity to the Orchard Road shopping belt and the upcoming Orchard Boulevard MRT station.
Knight Frank noted that the site is located within a residential estate comprising landed properties as well as high-end condominium and apartment developments.
“We continue to see very strong interest for redevelopment opportunities – in the past two months alone, three prime residential redevelopment sites at Grange Road, Cuscaden Walk and Hullet Road were transacted,” said Ian Loh, Executive Director & Head, Investment and Capital Markets, Knight Frank.
“In addition, sizeable residential redevelopment sites for landed homes are rarely available, thus One Tree Hill Garden is expected to attract strong interest in view of its location and relatively affordable investment size.”
The tender for One Tree Hill Garden will close on 28 February.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
