2 freehold private land parcels for tender sales

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