For Immediate Release, 2008-04-08
by Seah Li Ching
Colliers International, Singapore
International property consultant, Colliers International will be re-launching, on April 9, 2008, a freehold residential site located at 30 and 32 Amber Gardens. The tender sale is scheduled to close on April 23, 2008 at 3 pm.
The 40,917 sq ft site is regular in shape and enjoys dual-road frontage. Under the 2003 Master Plan, the site is zoned for “Residential” use with a gross plot ratio of 2.8. Amber Glades, a residential development comprising two 10-storey tower blocks accommodating a total of 63 units, currently occupies the site.
Mr Ho Eng Joo, Executive Director of Investment Sales, Colliers International, says, “About 90% of the owners’ consensus has been achieved to proceed with the en bloc sale. Indicative price is in the region of S$127 million, which is lower than the asking price of S$145 million six months ago. Including an estimated development charge of S$3.5 million, the price will work out to some S$1,140 per sq ft per plot ratio.”
The site can be re-developed to accommodate a luxurious residential development comprising 88 units of 1,300 sq ft each.
The subject site is located in a high-rise condominium cluster, comprising Amber Residences, One Amber, The Esta, The Sea View and Vertis, among others. Amenities are readily available at the nearby Parkway Parade, Marine Parade Central, Katong Shopping Centre and East Coast Park, while access to other parts of the island is available via East Coast Parkway, the new Kallang-Paya Lebar Expressway and Pan Island Expressway.
About Colliers International
Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 10,092 employees span the world in 267 offices in 57 countries. On a worldwide basis, Colliers manages 672,945,918 square feet, and has revenue of $US 1,620,958,349.
Contact Information
Seah Li Ching
Senior Executive, Marketing and Communications
Tel: 65 6223 2323
Direct: 65 6531 8545
Ho Eng Joo
Executive Director, Investment Sales
Tel: 65 6223 2323
Direct: 65 6531 8618
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