Haig Road Flats up for sale at $48m indicative price

An indicative price of $48m was set, translating to a land rate of $1,252 per square foot. 

Haig Road Flats, a row of flats located along the aforementioned road, was officially put on sale by tender. 

The marketing agent for the sale, Colliers, has said that the site “offers an attractive opportunity to construct a boutique development in an exclusive and tranquil environment near major amenities.”

Making up the property is a site area of 2,544.5 square metres or around 27,389 square feet (sq. ft.). A block of 24 apartment units spread across four storeys also compose the structure. No development charge is payable. 

Under the Master Plan 2019, the site is currently zoned for residential development with a gross plot ratio of 1.4. A redevelopment of 35 units, with an average size of 1,000 sq. ft., is also possible, subject to the approval of the appropriate authorities. 

Surrounding the property are major roads and expressways, including Mountbatten Road, Tanjong Katong Road, Kallang-Paya Lebar Expressway, and East Coast Parkway. Food and beverage, lifestyle, and entertainment amenities also circle the site, with educational institutions also within the 1-kilometre radius.

“The most recent government land sale site at Jalan Tembusu, that drew eight bids and was eventually awarded at $1,302 psf ppr, is evident of this area’s appeal, despite the recent cooling measures that were introduced in December last year,” explained John Bin, Director, Capital Markets & Investment Services, Singapore, Colliers. 

The collective sale tender will remain open until 3 PM, 7 April 2022.  A price of $48m was set, keeping the psf ppr at $1,252.