Freehold redevelopment site in Pasir Panjang Road up for sale

Its indicative guide price is over $18m.

A freehold residential redevelopment site at 303/305 Pasir Panjang Road has been launched for sale by tender.

The site's sole marketing agent, Knight Frank Singapore, said the indicative guide price is over $18 million or approximately S$1,099 per square foot (psf) on land.

" For a proposed redevelopment of the site up to a Gross Plot Ratio of 1.4 for apartments, the land rate works out to approximately S$1,308 psf per plot ratio (ppr), inclusive of land betterment charge," knight Frank said.

Under the Master Plan 2019, the site is zoned residential with a gross plot ratio of 1.4. Meanwhile, its land area measures 1,521.7 square metres (sqm) or approximately 16,379 square feet (sq ft).

“The site location exudes a laid-back charm and is ideal for those seeking temporary respite from the hustle-bustle of city life. The land sale of Gloria Mansion, which is located just across it, as well as the nearby Flynn Park in the past months has spurred interest in this area. With the Greater Southern Waterfront transformation plan on the horizon, this listing is an exciting opportunity for investors and home-owners," Mary Sai (蔡竺樾), Knight Frank Singapore's executive director for Capital Markets, said.