The Jalan Rimau strata landed terraces, known as Long Hua Yuan, are now available for collective sale at a reserve price of $58 million. This property comprises 12 three-storey units and covers a total site area of 32,436 square feet. It is zoned for residential use, which opens up various development opportunities.
With a gross plot ratio of 1.4, this site has the potential for transformation into up to 49 apartment units, making it an attractive option for developers looking to capitalize on the growing demand for residential spaces in the area.
The reserve price of $58 million translates to a land rate of approximately $1,368 per square foot per plot ratio. This pricing positions the property competitively within the market, particularly in a region that is becoming increasingly appealing to families and mid-size developers.
The fact that the sale has achieved 100% owners’ consensus is noteworthy, as it eliminates the need for approval from the Strata Titles Board, streamlining the sale process. This level of consensus among owners indicates a strong collective interest in proceeding with the sale, which may enhance the attractiveness of the property to potential buyers.
Located off Bedok Reservoir Road, Long Hua Yuan benefits from its proximity to various amenities and established residential neighborhoods. This advantageous positioning makes it appealing not only to developers but also to potential residents who seek a vibrant community atmosphere with access to essential services and recreational facilities.
The area’s infrastructure, combined with its community-oriented environment, is likely to draw interest from families looking for a place to settle down.
The tender for Long Hua Yuan is set to close on June 10 at 3 PM, with marketing efforts being handled by Cushman & Wakefield. Their involvement signifies a strong market interest and suggests that the property will likely attract a wide range of bidders.
Given the competitive nature of the real estate market, developers may recognize the value of this opportunity, particularly with the potential to create a residential development that meets current market demands.
As Singapore continues to evolve and expand, properties like Long Hua Yuan represent not just a financial investment but also a chance to contribute to the changing landscape of residential living in the region.
The collective sale presents a unique opportunity for developers to engage in a project that aligns with urban growth trends while addressing the needs of the community. The Jalan Rimau strata landed terraces stand as a beacon of potential, ready for the next chapter in their development journey.
NEW CONDO LAUNCH: RIVER GREEN
River Green is an exciting new condo launch featuring a variety of unit types, from one to four-bedroom layouts, designed to meet diverse buyer needs.
The development offers modern amenities such as a swimming pool, fitness center, and landscaped gardens.
With a prime location near key transportation links and essential services, River Green ensures convenience for residents.
Competitive pricing and attractive financing options make it appealing for first-time buyers and seasoned investors alike.
For more details, check the River Green floor plan and project information.
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News Source: Edgeprop
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