Blossom Mansions is up for collective sale by tender at a reserve price of $32.8 million, or about $1,262 psf per plot ratio (ppr) based on the maximum gross floor area (GFA) of 25,990 sq ft.

A freehold development comprising 20 units, Blossom Mansions takes up a strata lots area of 21,000 sq ft on two blocks of 8 storeys. It can be redeveloped up to the existing GFA of 25,990 sq ft, and yield 34 residential units averaging about 753 sq ft each.

There is no development charge as its existing high baseline at 25,990 sq ft is above the Master Plan plot ratio of 2.8.

The site can also be considered as a mixed-use development for residential and institution premises.

According to market agent Huttons Asia, 90% of strata owners have signed the collective sale agreement.

The tender will close on July 31.