Cascadale relaunches collective sale at $270m

The 167,528 sqft site has an allowable building height of up to 12 storeys.

Freehold residential development Cascadale at Upper Changi Road East is relaunching its collective sale and is retaining its reserve price of $270m, marketing agent JLL announced.

The property would have a land rate of around $1,065 psf ppr, including the estimated development charge of about $15.5m but before any bonus gross floor area.

The 134-unit development sits on a 167,528 sqft site with a gross plot ratio of 1.6 and an allowable building height of up to 12 storeys or 45 metres above mean sea level.

Also read: Daily Briefing: Cascadale condominium for sale at $270m

JLL added that Cascadale may be redeveloped into a condominium project of up to 292 units with an average size of 85 sqm per apartment. According to JLL senior consultant Karamjit Singh, there is not yet an upcoming launch of condo project in District 16 in the pipeline.

“With the estimated 30,000 professionals working in Changi Business Park and as the plans for the Changi City take form, the demand and values for homes there are expected to rise by 10% to 20% over the next three to five years,” Singh said.

The property is located near Upper Changi MRT station, Cascadale is close to the Singapore University of Technology & Design (SUTD), Changi City Point, Changi Business Park, the Singapore Expo, Changi Airport and the Jewel.

The draft 2019 Master Plan highlighted plans to transform the Changi East area into an innovative lifestyle and economic cluster centred on aviation-related businesses and industries.