Redevelopment site at Pasir Panjang Road sold to Silver Edge Investment for $18.5 mil

It lies alongside many exclusive homes, and is just within strolling proximity of Haw Par Villa MRT Terminal on the Circle Line. The National University of Singapore, National University Hospital, Science Park II and Mapletree Business Park are a quick travel away.

An estate property redevelopment spot on 303 as well as 305 Pasir Panjang Road was marketed to Silver Edge Investment Holdings for $18.475 million, according to a news release on Oct 20 from Knight Frank, which serviced the agreement.

Silver Edge Investment prepares to redevelop the site right into specific niche ground homes, according to its managing associate Christopher Tong. He expects the potential homes at the place to attract residential property buyers who aspire to “stay in an exciting location throughout the well established household territory at Pasir Panjang”.

“This property got keen interest from possible purchasers looking for a palatable-sized redevelopment chance with exceptional locational attributes,” claims Chia Mein Mein, the head of financing markets (land and collective sale) at Knight Frank. The possibility for redevelopment right into condos or property homes was a major draw, she incorporates.

Sky Eden condo floor plan

The Pasir Panjang Road site has a land area of 16,379 sq ft as well as is zoned domestic use with a gross plot rate of 1.4. The existing project contains a primary single-storey bungalow with a number of outhouses.

Silver Edge Investment Holdings gained the quote at $475,000 above the guide rate of $18 million, equating to a land price of $1,128 psf.

More domestic projects in Silver Edge Investment’s pipe feature 2 removed homes on 52 Wilkinson Road and even an one detached bungalow at 37 Poole Road, both scheduled for completion at the end of 2022.

Chia anticipates demand to follow from the growth of the local riches people and the extra of latest high-net-worth people.

Silver Edge Investment, a high-end residence developer, was established in 2017 and also presently has $50 million worth of ventures in its own pipe.

“The property is tactically established within lavish plant with very easy access to West Coast Park, Southern Ridges plus various other eco-friendly spaces around the upcoming Greater Southern Waterfront,” claims Mary Sai, executive supervisor of funding markets at Knight Frank Singapore.

The tender exercise was launched on Sept 15 and also shut off on Oct 13.

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