The freehold serviced apartment development, 12onShan, in Novena has been put up for sale by tender, announced the exclusive marketing agents Knight Frank and Savills. 12onShan has been valued at $107 million on a completed basis.

The development is expected to obtain Temporary Occupation Permit in 2Q2018. It comprises a 16-storey building housing 78 serviced apartments offering a total of 99 rooms. There is a mix of 1-, 2-bedroom, and dual-key units, and apartment sizes range from 301 to 667 sq ft. The project is situated on a 22,154 sq ft site and is zoned for residential use, with a gross plot ratio of 2.8, under the 2014 Master Plan. The developer has obtained Written Permission to operate the development as serviced apartments.

Facilities within the development include a swimming pool, indoor gym, garden terrace, communal roof terrace, and BBQ area. It is about 550m from the Novena MRT station, and is served by the Central Expressway, Thomson Road, and Balestier Road. 12onShan will benefit from its proximity to the upcoming Health City Novena, says Ian Loh, head of investment and capital markets at Knight Frank Singapore.

The tender will close on March 8.