Tender Bid for Copen Grand EC and Its Green and Sustainable Features

Adjoining Pair of freehold Four-Storey Buildings with Attic in Balestier on the Market for $15.3 mil

A set of freehold adjacent four-storey structures with attic room– located at 16 and 18 Kim Keat Road in Balestier– are up for sale through expression of passion (EOI) at a guide price of $15.3 million, according to advertising agent Savills Singapore. The guide cost works out to $1,438 psf, based upon gross floor location.

The home occupies a consolidated land area of around 3,449 sq ft as well as an approximated total floor area of 10,638 sq ft. The ground floor has commercial systems that feature dining establishment usage approvals and also are currently leased to F&B drivers, while the top floorings are comprised of residential devices, which are also rented out. The buildings likewise include an inbuilt mechanical vehicle parking system for 8 lorries.

Tender Bid for Copen Grand EC and Its Green and Sustainable Features

In this article, we discuss the Tender Bid for Copen Grand EC and its green and sustainable features. We also take a look at Tengah Town and Tengah MRT Station. And finally, we’ll look at the Green and Sustainable Tengah District. What are the benefits of this development? Read on to find out! And, don’t forget to share your views!

On 25 May, the Copen Grand EC Tender Bidding was closed. Seven bidders vied for the site. The highest bidder was the joint venture between City Developments Limited and MCL Land, which put in $400.3 million and $603 psf ppr. The previous high for this plot was $583 psf ppr, which was achieved by the joint venture at the Sumang Walk EC site in early May.

The winning bidder was Taurus Properties, a 50% joint venture between CDL and MCL Land. The bidder submitted the highest ground fee proposal, $400 million, which translates to $6,492 per square meter. It is a record for land fees at an EC site under the GLS. MCL Land also won the contract for the executive condo plot Sumang Walk, which was valued at $583 ppr.

Associate supervisor for financial investment sales and also resources markets at Savills Singapore Sophia Lim states the home has value-add potential, noting that the future owner could reconfigure the space for co-living and also student hostel objectives. All the household devices at the home are already furnished with independent air-conditioning units as well as ensuite bathrooms.

Lim adds that the residential property’s location is optimal for a co-living area given its proximity to tertiary and research study organizations such as Lee Kong Chian School of Medicine as well as East Asia Institute of Management. It is also within a brief driving distance to the health care hub at Novena.
The EOI exercise for the structures will close on July 26 at 3pm.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.