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Kovan Lodge was put up for en bloc sale for the second trial in March 2013. The asking price was around $30 million which works out to be $790 psf of potential gross floor area.
Under the 2008 Master Plan, the 27,090 sq ft site is zoned for residential use at a plot ratio of 1.4.
Based on the $30m asking price, its owners would stand to receive sums of between $1.5 million and $1.8 million per unit.