Read more: Spottiswoode 18 offers a one-bedroom duplex penthouse for sale for $1.55 million

Spottiswoode 18 offers a one-bedroom duplex penthouse for sale for $1.55 million

Charming Garden, a 999-year leasehold property located at King’s Road, off Farrer Road in District 10, is launching for a collective sale as part of public tender, as per the press release issued on December 5 by the marketing agency Colliers. The development is expected to have a base cost of $175 million which is $2,096 per plot ratio (psf ppr) which is $2,074 per square foot on the land.

It is situated between 140 and 138 King’s Road, Charming Garden was completed in the late 1980s and has 32 apartments. The residential development is set on an 84,357 sq feet elevated site. Colliers states that the site reconstruction will be an area of gross floor (GFA) that is not more than the existing verified GFA of 83,491 sq feet. It is believed that the site is not qualified to participate in an incentive GFA scheme as well as there is no land Betterment Charges are applicable.

Tang Wei Leng, Colliers director of management and director of capital services and markets in Singapore is of the opinion that this site is likely to appeal to developers as well as ultra-high-net-worth people with the lease’s 999-year tenure and its position at “one among Singapore’s more luxurious residential enclaves that is mostly landed homes”. It includes the good-quality Bungalow areas such as Victoria Park, Cornwall Gardens and Belmont Park.

The property is located within one kilometer from Nanyang Primary School. It is just five minutes walk from the Farrer Road MRT Station on the Circle Line. Nearby facilities comprise Empress Road Market and Food Centre as well as The Singapore Botanic Gardens.

The public bid of Charming Garden will end on the 17th of January 2023 at 3pm.