The family business belonging to the Kalwani family is putting up some of its land parcels for sale as part of divestment to consolidate a portfolio of properties acquired over the years where each site will appeal to a different class of developers for redevelopment.
The first site consists of a sizeable plot measuring 53,000 sqft of good-class bungalow land located at Holland Rise and East Sussex Lane. This site had been subdivided into 3 plots where the purchaser can opt to amalgamate back the 3 plots or reconfigure the subdivision according to different layout. This site will be marketed from $60 to $65 million which is about $1,132 to $1,226 psf.
The second plot of land measuring 20,133 sq ft is a freehold industrial site located at New Industrial Road. This site will be marketed from $22 to $25 million which is about $437 to $497 psf ppr. As there were keen interest for industrial sites recently as evident from recent government land sale tender for an industrial site in Kaki Bukit Road which attracted 8 bidders, this site should garner good interest from developers who are looking for freehold industrial site as well.
26 Jul 2012