Lodge 77 in Upper East Coast Road put up for sale by tender for over $34.2m

The tender closes on December 16.

Lodge 77 is a freehold three-storey residential development with two F&B establishments and a clinic at the first storey. It has a land area of 1,219.2 sqm (approx. 13,123 sq ft). Under the Master Plan 2014, the site is zoned for “Residential with Commercial at 1st storey” with a Gross Plot Ratio (GPR) of  3.0. The site is regular in shape and enjoys a frontage of approximately 30 metres onto Upper East  Coast Road. 

The seller is expecting offers of above S$34.2 million. This translates to a land rate of approximately

S$1,100 psf per plot ratio (psf ppr), including an estimated development charge of approximately S$9

million.

“We continue to see strong interest for redevelopment opportunities in the eastern part of Singapore. In the past two months, two redevelopment sites at Sea Avenue and East Coast Avenue were transacted. We expect this property to also attract strong interest in view of its location and relatively affordable investment size. It also offers quick turnaround time for prospective purchasers as no STB approval is required,” says Mr Ian Loh, Executive Director & Head, Investment and Capital Markets.

The tender will close on 16 December 2015, Wednesday at 3pm. Knight Frank is the sole marketing agen