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PR Newswire
01-12-2019, 11:11 PM
The M condominium site located along Middle Road was sold to the Wingcharm Investment, a unit of Wing Tai Holdings, at the price of $492m. It was hotly contested by 10 bidders.
The site area of 7,462sqm, is an up-and-coming destination for work, live and play, surrounded by commercial developments and array of F&B outlets. As its close proximity to CBD, the site is not subject to the 85 sqm ruling. It can build 375 residential units and upto 1,5000sqm of commercial space on the first floor. It consists of low rise zone upto 6- storey and high-rise zone up to 20-storey high.
The sale price translates to a land price of $1,458 per sq ft per plot ratio (psf ppr).
It’s estimated that break even cost around $2000psf, and The M launch price may range anything from $2500psf onwards.
The site area of 7,462sqm, is an up-and-coming destination for work, live and play, surrounded by commercial developments and array of F&B outlets. As its close proximity to CBD, the site is not subject to the 85 sqm ruling. It can build 375 residential units and upto 1,5000sqm of commercial space on the first floor. It consists of low rise zone upto 6- storey and high-rise zone up to 20-storey high.
The sale price translates to a land price of $1,458 per sq ft per plot ratio (psf ppr).
It’s estimated that break even cost around $2000psf, and The M launch price may range anything from $2500psf onwards.