Fairhaven and Sophia Ville (FKA) - new launch properties for sale en bloc sold for $62 million.
One of new launch properties for sale in 2022, Fairhaven and Sophia Ville are located in District 9 of Singapore at 128 & 130 Sophia Road. Fairhaven and Sophia Ville Combine Sites sold to the whole block for S$62 million. JLL Singapore, the official sales representative for the joint sale of Fairhaven and Sophia Ville, brokered the contract. The projected price for both properties is over $64 million, which equates to $1,279 psf per lot (ppr), or $1,195 psf ppr after factoring in the 7% bonus balcony area. Fairhaven and Sophia Ville majority owners have agreed to work together to make the sites available to one developer.
At the end of August, the new launch properties for sale opened bids and closed in September, which comes after the sale on this en bloc has been accepted by more than 80 percent of condo owners. The selling price introduced in August this year was S$64 million and the offer was made S$62 million after a number of negotiations. The development covers 23,828 sq ft, the sites combined have a total plot ratio of 2.1. It is planned for residential use, according to the 2019 URA Master Plan. It has a total floor area of 53,541 square feet allowing the developer to redevelop them into a single, large residential home. new.
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Fairhaven and Sophia Ville (FKA) - new launch properties for sale en bloc sold for $62 million
Location of new launch properties for sale - Fairhaven and Sophia Ville (FKA) and potential for development
Fairhaven and Sophia Ville are new launch properties for sale located at 128 and 130 Sophia Road. This is one of the most sought-after homes in Singapore thanks to its proximity to many amenities. Both developments are in the CBD, meaning future developments will offer increased flexibility in terms of unit size, subject to approvals. It is also close to Dhoby Ghaut MRT Interchange and Orchard Road shopping belt.
Additionally, popular schools nearby include St Margaret's Primary School and Anglo-Chinese School (Base) within just 1 km. Other institutions also located in the vicinity are Singapore Management University, Lasalle College of Art, Nanyang Academy of Fine Arts and School of Art. This place is similar to a number of elite colleges and other academic institutions. A quick drive away is the Central Business District and Marina Bay.
Location of new launch properties for sale - Fairhaven and Sophia Ville (FKA)
For developers, the combined plots can be consolidated into a main freestanding residential area with a gross floor area of 50,000 sqft, which is rare in a neighborhood with mostly apartments with small land area. For residents and investors, this is a very sought-after location for investors who are looking for rental profits as this location is highly sought after by foreign students studying in the surrounding area. near. Residents will enjoy nearby amenities such as Plaza Singapura, Selegie Centre, SMU and other local food courts all within walking distance.
According to Yong Choon Fah, Senior Director of Capital Markets at JLL, they believe this partnership is a win-win proposition for both owners and potential buyers. For the owners, they will achieve a higher price than if they sold themselves. For developers, this offer gives them more flexibility and scale for a high-end project or ideal for family offices developing a boutique project for long-term rental income.
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