Casa Sophia, a freehold development along Sophia Road, is up for collective sale at a reserve price of $36 million. This translates into a land rate of about $1,390 psf per plot ratio.

All of the owners have agreed to the sale, and each owner stands to receive between $2.69 million and $3.4 million, according to marketing agent ERA Realty Network.

The 12-unit development sits on 12,327.9 sq ft of land and consists of only three-bedroom units measuring 1,152 to 1,453 sq ft each.

Under the Master Plan 2014, the site is zoned “residential” with a gross plot ratio of 2.1. It can be rebuilt into an estimated 34 units at 753 sq ft per unit.

Located in District 9, Casa Sophia is 350 metres away from Dhoby Ghaut MRT station. It is also near reputable educational institutions such as Saint Margaret’s Primary School, Nanyang Academy of Fine Arts, LASALLE College of the Arts, School of the Arts Singapore and Singapore Management University.

The tender will close on August 14.