Three adjacent three-story apartment properties at 2, 6, and 4 Mount Emily Road are being sold to ZACD International for $18 million in a collective transaction. This is the year’s first collective sale.
The lots total 5,549 square feet in size, whereas the structures total 16,138 square feet. The land is designated for residential use and has a lot ratio of 2.1, according to the 2019 Master Plan. Based on the current gross floor space, the $18 million purchase price amounts to $1,115 per square foot. This is the year’s first combined sale.
The MRT junction in Little India is 200 metres distant.
“Due to its excellent location and manageable size, the offering has garnered the interest of developers and investors. Additionally, the developer gained clarity about the timetable for closing .” “Swee Shou Fern, executive manager of investment advice at Edmund Tie & Company, commented on the transaction.
The property was purchased for a direct price of $24 million ($1,485 per square foot of gross floor space) in June of last year.
