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First freehold property up for collective sale

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Fairhaven, situated at Sophia Road in District 9, is up for aggregate deal by open delicate. More than 80 for each penny of the proprietors gave agree to the offer of the 15-unit private advancement.

The proprietors are taking a gander at offers above S$45 million for the freehold advancement that accompanies a surmised area region of 16,660 square feet.

Considering the ten for each penny reward overhang, this would mean about S$1,169 per square foot per plot proportion.

Jones Lang Lasalle's (JLL) National Director of Capital Markets, Ms Yong Choon Fah, recommended for potential purchasers to consider developing littler flats.

This is to benefit from the site's focal zone area, where private units are not confined by new least size rules forced by the Urban Redevelopment Authority (URA).

Fairhaven is the first advancement site to be set available to be purchased in the region since URA discharged a Mount Sophia site in 2013 that drew a reasonable number of offers.

Ms Yong anticipates that the site will draw in proprietor occupiers, financial specialists and families with school-going kids.

Fairhaven's vicinity to instructive groups and the Dhoby Ghaut exchange station are further offering focuses. Open delicate for Fairhaven closes on 1 July 2015 at 3pm.

Taken from iProperty

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Guest Monday, 13 July 2020