If you’re in the market for a prime investment opportunity, the Jalan Rimau strata landed terraces, also known as Long Hua Yuan, are now available for collective sale at a reserve price of $58 million. This translates to a land rate of $1,368 per square foot per plot ratio, making it a compelling proposition for savvy investors like you.
With a total site area of 32,436 square feet, this freehold residential development comprises 12 units of three-storey terraces, offering a unique opportunity for redevelopment.
The property boasts dual access from Jalan Rimau and Jalan Punai, which enhances its appeal and accessibility. This design feature not only makes it convenient for residents but also opens up possibilities for creative development plans.
The current zoning for residential use, coupled with a gross plot ratio of 1.4, means you’re looking at a potential transformation into a boutique residential project that could accommodate up to 49 apartment units. Imagine the possibilities that come with that!
What’s even more enticing is that 100% consensus from the owners has already been secured for the tender launch. This eliminates the need for approval from the Strata Titles Board, streamlining the process for you as a potential buyer.
The tender closing date is set for June 10 at 3pm, so if you’re interested, you’ll want to act quickly. The straightforward nature of this sale makes it an attractive option for developers who want to dive straight into the project without navigating complicated bureaucratic hurdles.
The location off Bedok Reservoir Road is another critical factor contributing to the desirability of this property. It’s expected to attract strong demand from nearby HDB upgraders and young families looking for quality living spaces.
This demographic shift presents a lucrative opportunity for small and mid-size developers who can design a project that meets the needs of these potential buyers. The growing demand for housing in this area signals that now is the time to seize this investment opportunity.
As you consider your options, think about the potential returns this project could yield. The combination of a prime location, a solid land rate, and the ability to develop up to 49 apartment units makes this a standout investment.
With the owners’ consensus already in place, you won’t face the typical delays associated with collective sales. Instead, you can focus on developing a project that not only meets market demand but also positions you favorably in the competitive real estate landscape.
NEW CONDO LAUNCH: BLOOMSBURY RESIDENCES
Bloomsbury Residences is an exciting new condo launch offering a variety of modern living spaces, ranging from one to four-bedroom apartments.
Located in a prime area, it provides residents with easy access to shopping malls, schools, and parks.
The project emphasizes sustainability and features state-of-the-art facilities, making it an attractive option for families and young professionals alike.
Interested buyers can explore the Bloomsbury Residences floor plan and pricing details in their Bloomsbury Residences e-brochure.
View BLOOMSBURY RESIDENCES ShowFlat & Get VVIP Discount.
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News Source: Edgeprop
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