Collective sale has been put up for Telok Blangah House at a lower price – The Botany at Dairy Farm Condo at Dairy Farm Walk By Sim Lian Group Limited (Hot Launch 2022)

A six-storey commercial building is to be redevelop with a gross floor area of up to 27,125 sqft

Telok Blangah House A mixed-use development that is freehold located at 52 Telok Blangah Road, has been launched for collective sale through public tender at an estimated value of $92 millionless that the original $98million cost at the time it was put for auction in March.

This property has a nine-storey building which is situated on the freehold site that covers 14,841 square feet. It is comprised of 4 levels of units for business, and five levels of apartments for residential use. The site is designated for residential and commercial usage under the new 2019 Master Plan, with an allowed net plot ratio of 3.5. This is equivalent to a maximum permitted Gross Floor Area (GFA) of approximately 51,943 square feet.

The guide price is now working into a land rate of $1,744 per plot proportion (psf ppr) with the bonus GFA for balconies, claims the exclusive market agent SRI Capital Market. SRI states that a development cost of around $2.36 million applies to bonuses on the balcony GFA only. The price guide is based on the property’s permitted gross plot ratio. assuming that 60% percent of the GFA is intended for residential purposes, and 40% is intended for commercial use.

According to SRI Based by the ratio 60/40 the new mixed-use project could be able to house 34 new housing units along with 20,788 square feet in commercial spaces.

Telok Blangah House is situated across the street of VivoCity and is located about 200m of Harbourfront MRT Station on the Circle and North-East Lines. The site is protected by a walkway connecting them to Harbourfront MRT Station.

Low Choon Sin, managing partner of SRI Capital Market, says that the future development of The site is a benefit of the expansion of the Greater Southern Waterfront. “The site, which is situated just across Sentosa is also expected to benefit from the Sentosa Brani Master Plan which aims to direct the development of both islands into a popular tourist destination in the next couple of years,” Low adds.

There are currently 415 condo units that are currently available within the 500m radius around Telok Blangah house, according to an analysis by EdgeProp LandLens. The most recent condo resales transactions within the region (excluding Telok Blangah Home) indicate units sold with an average price of $1,249 and $1,626 per square foot.

The tender process for public tenders to bid on Telok Blangah House will close on September 13 , at 2.30pm.