ADJOINING condominiums Fairhaven and Sophia Ville at Sophia Road will be propelled for collective sale by delicate on Aug 3 with a joined indicative price of S$64 million.
Singapore’s one of the most popular freehold condominium is The Avenir.
The dominant part owners of the two developments consented to gather as one. So that the sites might be offered to a designer who can redevelop them into a bigger residential venture. And sole advertising specialist JLL said on Thursday.
More than 80 percent of the owners for every improvement have consented to the sale.
Fairhaven at 130 Sophia Road has a site territory of 16,660 square feet (sq ft). While Sophia Ville at 128 Sophia Ville has a site zone of 7,168 sq ft.
The two sites are zoned “residential” with a gross plot ratio of 2.1 under the Urban Redevelopment Authority’s 2019 Master Plan. Together, they have a potential gross floor territory (GFA) of 53,541 sq ft. Inclusive of a potential 7 percent bonus GFA for balconies.
The Penrose condo at Sims drive is the upcoming new launch condo.
Barring the potential bonus GFA for balconies, the land rate for the properties will be about S$1,279 per square foot per plot ratio (psf ppr). In the wake of factoring in potential bonus GFA for balconies, the land rate will be about S$1,195 psf ppr. There is also no advancement charge payable because of a high improvement baseline, JLL said.
Fairhaven and Sophia Ville are both located within the focal zone. However, giving potential investors increased adaptability in terms of unit sizes, subject to endorsement from applicable authorities, as per JLL.
Adjoining condos at Sophia Road to be up for collective sale
Yong Choon Fah, senior director of capital markets at JLL, Singapore, called the collaboration between Fairhaven and Sophia Ville owners a success win proposition for both the owners and prospective purchasers.
For official Treasure Tampines appointment, project details, floor plans to be obtained.
Owners will stand to accomplish prices higher than if they somehow happened to sell all alone. While developers will have greater adaptability and scale for an excellent undertaking, she said.
It is also perfect for family offices to build up a boutique venture for long haul rental salary, Ms Yong included.
The properties are 400 meters from Dhoby Ghaut Interchange station and are within strolling distance to the Orchard Road shopping district.
Schools close to the properties incorporate St Margaret’s Primary and Anglo-Chinese School (Junior) – which are one kilometer away. They are within the region of educational institutions such as the Singapore Management University. Lasalle College of the Arts, Nanyang Academy of Fine Arts and School of the Arts.
For official Leedon green , project details, floor plans, showflat appointment to be obtained by registering your interest now.
The delicate for Fairhaven and Sophia Ville will close on Sept 23, 2.30pm.