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SINGAPORE – The owners of Sutton Place, a free subdivision off Farrer Road, have put the property up for sale by tender, with a reserve price of $ 268.0 million.
At this price, the land price The total amount of this royalty rises to $ 1,917 per square meter, after taking into account a development fee of approximately $ 17.88 million, which must be confirmed by the competent authorities, said Knight Frank Singapore, its sole commercial agent.
MRT Station, the five-story development includes 44 apartments on a plot of approximately 93,185 square feet. It is well connected to other parts of Singapore via Farrer Road, Ayer Rajah Expressway and the Pan-Island Expressway, said Frank Knight.
The site is zoned "residential" with a permitted land ratio of 1.6, and will not require a pre-application feasibility study. Subject to the approval of the Urban Redevelopment Authority, it can be redeveloped into condominiums with 198 apartments averaging 753 square feet, said Frank Knight.
The call for tenders for Sutton Place will be closed on September 6th at 3:00 pm
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