SINGAPORE (EDGEPROP) - Three adjoining three-storey residential buildings at 2, 4 and 6 Mount Emily Road have been sold via a collective sale to ZACD International at $18 million. It is the first collective sale of the year.
The freehold properties sit on a combined site area of 5,549 sq ft, and the buildings have a total floor area of 16,138 sq ft. Under Master Plan 2019, the property is zoned for residential use at a plot ratio of 2.1. The sale price of $18 million translates to $1,115 psf, based on the existing gross floor area. The transaction is the first collective sale of the year.
The property is in close proximity to the CBD and Orchard Road. Little India MRT interchange station is 200m from the property.
“The tender attracted very keen interest from developers and investors due to its prime location and bite-sized quantum. The 100% owners’ consent also provided the developer certainty in deal completion timeline,” says Swee Shou Fern, executive director of investment advisory at Edmund Tie & Company.
The property was initially launched in June last year at a guide price of $24 million ($1,485 psf based on gross floor area).