St. Francis Court up for en-bloc at $95m guide price

The 34,111.12 sqft site comprises a single 11-storey apartment block with 71 units.

Leasehold site St. Francis Court, situated at 90 Saint Francis Road, is up for collective sale by public tender at a guide price of $95m, an announcement by ERA Realty Network revealed.

The site, which has a 2.8 plot ratio, comprises a single block of 11-storey apartments with a total of 71 units, and a land area of 34,111.12 sqft.

According to ERA, the site can be redeveloped into 100-110 units, and the proposed redevelopment would not require a Pre-Application Feasibility Study (PAFS) as confirmed with the Land Transport Authority (LTA).

“More than 80% of the subsidiary proprietors of St. Francis Court by share value and by strata area have signed the Collective Sale Agreement. The site has 72 years left on its lease,” said Stanley Koo, division director at ERA Realty.

ERA further noted that the differential premium is not payable (subject to confirmation from URA/SLA) and intensification and top-up for a fresh 99 years is estimated between $9m and $10m.

Owners are expected to receive sale proceeds of more than $1m to $1.5m each, depending on their respective unit sizes.

The tender will close on 6 June at 3.30 p.m.