Watten Estate Condominium, a 104-unit freehold growth in Bukit Timah, was set up for collective sale with a reserve price of $536 million or $1,738 per sq feet per plot ratio (psf ppr).
No development fee is payable.
Situated at Shelford Road, the condo is nestled onto a sprawling 220,234 sq ft website, which will be zoned residential with a gross plot ratio of 1.4 and a total allowable gross floor area of 308,341 sq feet, ” The Straits Times.
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Marketing representative Huttons disclosed that the website may be redeveloped into 242 modern hotel homes, measuring 1,270 sq feet (118 sq m) on average.
After factoring in the extra purchaser’s postage duty, the growth is”beautifully priced” at $1,825 psf ppr, mentioned Huttons.
Watten Estate Condominium is a mere seven-minute stroll into Tan Kah Kee MRT station and is close to Nanyang Primary School and Raffles Girls’ Primary School.
With last year’s cooling steps affecting the residential property marketplace, Huttons chose a different marketing strategy for its large prime website by engaging a group of architects to create a design concept for the website, stated Huttons Asia investment earnings venture Terence Lian.
Huttons Asia deputy head of investment earnings Angela Lim explained the concept indicated the way the website may be redeveloped into 242 modern hotel houses that”mix in well with its natural terrain and surroundings”.
“Families searching for a house in the Bukit Timah area would love such big and resort-styled houses with lush greenery within an undulating website,” she added.