New condo launch in Telok Kurau sold for sale $23.6 mil.
SINGAPORE (EDGEPROP) - New launch properties for sale @ freehold landed houses at Lorong N Telok Kurau have been sold via collective sale for $23.6 million to Baywind Properties, a 50:50 joint-venture company between ABR Holdings and LWH Holdings.
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New launch properties for sale - The three sites in District 15, at 93B, 93C, and 95 Lorong N Telok Kurau, occupy a total site of 18,507 sq ft. Subject to relevant approval from the authorities, the developers intend to build 24 residential units on the site. Currently, the properties on the site comprise a detached house and a pair of semi-detached houses. Under URA’s Master Plan 2019, the land is zoned for residential use with a plot ratio of 1.4.
“We witnessed keen interest from various parties – including local developers and new entrants – who were looking to acquire redevelopment sites to build boutique apartments, in view of the rising confidence brought about by healthy local demand for new condominiums or apartments,” says Tracy Goh, head of investment and collective sales at PropNex, which brokered the sale.
New launch properties is within the vicinity of malls like Parkway Parade mall and 112 Katong mall, which is currently undergoing renovation. It is some 500m away from the upcoming Marine Terrace MRT Station on the Thomson-East Coast Line.
Schools nearby the New launch properties for sale include CHIJ (Katong) Primary, CHIJ Katong Convent, Ngee Ann Primary School, St Stephen’s School, Tao Nan School, St Patrick’s School, and Victoria Junior College. The tender of the collective sale for the properties was launched on Nov 19 last year, and closed on Dec 29.
“This collective sale tender was the last one to close in 2020 and we are pleased to have garnered a successful outcome for the owners on their first en bloc sale attempt,” says Goh.
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