Ampas Apartment at Balestier launched for sale at $105 mil

/ EdgeProp
December 21, 2017 6:23 PM SGT
The 43-unit Ampas Apartment at Balestier has been launched for collective sale by tender on Dec 21. The asking price for the freehold site is $105 million, which works out to be about $1,240 psf per plot ratio, says marketing agent Huttons Asia.
Located along Jalan Ampas, the 30,239 sq ft site is within walking distance of the mixed-use developments Balestier Plaza and Shaw Plaza. It also sits within a 1km radius of Curtin Singapore, Northlight School and Hong Wen School.
Under the 2014 Master Plan, the site is zoned ‘residential’ with a plot ratio of 2.8. The maximum gross floor area of the site is 84,669 sq ft. This means the site can be redeveloped into 120 apartments, assuming they are sized at an average of 700 sq ft.
The existing development, which has a total strata area of 60,612 sq ft, is 16 storeys high. It sits next to the 89-unit Kemaman Point, which is also attempting a collective sale, according to Knight Frank.
The tender closes on Jan 25, 2018.