Freehold residential building on Haig Road sold to Nanshan Group for $49.3 mil in collective sale

/ EdgeProp Singapore |
The transacted price translates to a land rate of $1,286 per sq ft per plot ratio (Photo: Colliers)
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - A freehold residential site comprising 24 flats at 173 – 183 Haig Road (Odd Nos.) has been sold via a tender process with the winning bid of $49.3 million made by Nanshan Group. The sale price translates to a land rate of $1,286 per sq ft per plot ratio, according to Colliers, who brokered the deal.
The sale price is also 2.7% higher than the site's asking price of $48 million when it was launched for collective sale on March 3. The tender for the site closed on April 7.
Map and overview of 173 Haig Road - EDGEPROP SINGAPORE
Map and overview of 173 Haig Road (Source: EdgeProp LandLens)
According to John Bin, director, capital markets and investment service, Singapore at Colliers, the site garnered a lot of interest as it is a unique enclave that is conveniently located.
The property is a four-storey residential building comprising 24 apartment units that sits on 27,389 sq ft site area. Under the Master Plan 2019, the site is zoned for residential use with a gross plot ratio of 1.4. According to Colliers, no development charge is payable to redevelop the site.
The regular-shaped redevelopment site is a corner plot that enjoys dual frontage on both Haig Road and Seraya Lane. It is in the same locality as numerous top schools and is in close proximity to premium lifestyle amenities at Katong Shopping Centre, I12 Katong and Paya Lebar Commercial Hub.
The site is served by major roads and expressways including Mountbatten Road, Tanjong Katong Road, Kallang-Paya Lebar Expressway (KPE) and East Coast Parkway (ECP).
The owners of 173 – 183 Haig Road (Odd Nos.) are represented by Alan Tan from Wee Swee Teow LLP who advised on the collective sale process. The sale of the property remains subject to the Strata Titles Board’s approval.
Check out the latest listings near Katong Shopping Centre, I12 Katong, Mountbatten Road

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More