International property consultant, Colliers International launches the sale of two freehold residential sites located at Tung Po Avenue. The sale will be administered by way of tender, which will close on October 31, 2013, at 2.00 pm.
Located off Yio Chu Kang Road, the two vacant sites have a total land area of approximately 32,606 sq ft. Under the 2008 Master Plan, the site is zoned for “Residential – three-storey mixed landed” use.
Ms Tang Wei Leng (邓慧玲), Executive Director of Investment Services at Colliers International, says, “Private landed residential sites are rarely made available for sale; hence, these two land parcels offer an opportunity for boutique developers to invest in a reasonably-sized plot of land at attractive pricing.
The asking price is above S$30 million. The successful buyer can develop the site to accommodate approximately 15 conventional terrace houses of some 3,600 sq ft each. Alternatively, he or she can also build around 20 units of cluster terrace house, with areas ranging from 3,500 sq ft to 3,800 sq ft each. Such large living spaces are ideally suited for multi-generation families to live under one roof.”
The subject property is located in a quiet residential neighbourhood which comprises mainly landed and cluster housing, with CHIJ St. Nicholas Girls’ School located within a one-km radius. Amenities are found in the nearby Yio Chu Kang and Ang Mo Kio towns. The locality is accessible to the rest of the island via Central Expressway and Tampines Expressway, as well as Yio Chu Kang MRT station.