Makeway View in Newton area up for collective sale at $168 mil
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Makeway View, a freehold residential site in Newton, has been put up for collective sale by tender at $168 million, announced Edmund Tie & Co. (ET & Co.) the sole marketing agent. The asking price translates to a land rate of $1,589 psf per plot ratio, including a $17 million development charge.
The property is a 10-storey development situated on a 41,582 sq ft site. It comprises 28 apartment units and four penthouses. It is zoned for residential use with a gross plot ratio of 2.8 under the 2014 Master Plan. The site could be redeveloped into a high-rise apartment block of 21 to 22 storeys with about 154 units sized at 753 sq ft, subject to approvals, says ET & Co.
Makeway View (Picture: ET & Co.)
Makeway View is located across the road from Newton Food Centre. It is served by the Newton interchange on the North-South and Downtown Lines. It is also near Anglo-Chinese School (Barker Road), Anglo-Chinese School (Junior), and St. Joseph’s Institution Junior.
The tender will close on March 7.
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