Former Mount Emily new condo project for sale with lower S$18m guide price

New condo project - Former Mount Emily is a FREEHOLD residential block located at 2, 4 and 6 Mount Emily Road has been relaunched for collective sale by tender by Edmund Tie & Company with a guide price of S$18 million, down 25 per cent from the S$24 million guide price during its initial launch in June 2020.

This new condo project comes to about S$1,115 per square foot (psf) of total available floor space (GFA) compared to S$1,485 previously. In an updated press statement on Monday, the agency's executive director of investment advice, Swee Shou Fern, said the new designation "compared to Fairhaven's recently traded collective sale price and Sophia View for combined land price of S$1,158/square foot per lot (psf ppr) and Casa Sophia collective sale for S$1,120 psf ppr.

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New condo project: Former Mount Emily

An earlier version of this article stated that collective sales of Fairhaven and Sophia View as well as Casa Sophia were realized at S$1,158 and S$1,120 per lot (ppr), respectively. Edmund Tie & Company clarified that it should have been the rate per square foot per plot (psf ppr).

"Due to the high existing GFA, no development charge is payable... With an affordable bite-size quantum, the properties at 2, 4 and 6 Mount Emily Road presents an exceptional opportunity for one to transform this well-located property into a boutique residential development for future sale of strata subdivided units," said Ms Swee.

The tender exercise will open on Tuesday and close at 3pm on Feb 25, 2021. All owners have given consent for the collective sale of the property, which comprises adjoining units of three-storey buildings with basement and attic.

New condo project covers a total campus area of 515.5 square meters (square meters), with the existing GFA of 1,499.3 square meters.

According to the Urban Redevelopment Authority's 2019 Master Plan, this property is planned for residential use at a parcel rate of 2.1.

The new condo project is close to Mount Emily Park, the central business district and Orchard Road. It is located in the reserve of the secondary settlement of Mount Sophia and is about 200 meters from Little India MRT interchange, which serves the Central and North East MRT Station.

Mount Emily new condo is near Dhoby Ghaut MRT Station, Central Expressway and East Coast Parkway. Nearby shopping malls are The Cathay, Dhoby Ghaut Xchange, Concorde Hotel & Shopping Mall. Invest for your next generation at River Valley Primary School, Catholic Junior College, Chatsworth International School and Overseas Family Schools.

Source: The Business Times

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