News: Delta-shaped site at 62 Florence Road for sale for S$13.5m

Oct 23, 2019

The unique delta-shaped site is zoned Residential under the 2019 Draft Master Plan and has a land area of around 15,871 sq ft with a 1.4 plot ratio.

A residential site located at 62 Florence Road, off Upper Serangoon Road, has been put up for sale by CBRE via public tender for an indicative price of S$13.5 million, which translates to S$850 per square foot (psf).

The unique delta-shaped site is zoned Residential under the 2019 Draft Master Plan and has a land area of around 15,871 sq ft with a 1.4 plot ratio.

The property is around an eight-minute walk to the Kovan MRT Station and bus interchange, as well as Kovan City. Educational institutions are also nearby, such as Maris Stella High School, Nanyang Junior College, Rosyth School, Serangoon Junior College and Paya Lebar Methodist Girls’ School.

It is currently occupied by a vacant one-storey detached house built in the 1930’s and enjoys dual road frontages of 45 m onto Lim Ah Pin Road and 55 m along Florence Road.

“As the current plot ratio is under-utilised, the site can be redeveloped to accommodate a five-storey boutique development comprising some 20 apartments of approximately 1,076 sq ft in unit size area, a basement carpark and communal facilities – subject to approvals by the relevant authorities,” said Michael Tay, CBRE senior executive director for capital markets.

“There will also be an estimated development charge of S$3.7 million, subject to URA’s confirmation,” he added.

The public tender exercise for 62 Florence Road closes on 5 December.

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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg

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