TUAN Sing Holdings’ wholly-owned Episcia Land exercised an option on Wednesday to purchase a piece of vacant land at 1 Jalan Remaja, Singapore, for S$47.8 million from Andermatt Investments Pte Ltd.
The freehold site, zoned residential, has a land area of some 4,046.6 sq m. At a plot ratio of 1.92, subject to Episcia’s payment of development charge, the site can potentially yield about 100 residential units taking into account the permissible gross floor area of 7,769.5 sq m (83,630 sq ft), said Tuan Sing in a statement.
A total sum (including option fee) of S$4.78 million, representing 10 per cent of the consideration, has been paid to the vendor for the acquisition that will be funded by internal and external resources.
It said the site is nestled within a tranquil private residential enclave of Hillview area and is surrounded by greenery from the neighbouring Bukit Timah Nature Reserve, Bukit Batok Nature Park and Bukit Gombak “Little Guilin”.
There is also good transport connectivity given the close proximity to major expressways making key areas such as Jurong Lake District and Central Business District easily accessible; the nearby Hillview MRT Station is about 10 minutes’ walk from the site while Marina Bay is a mere 30 minutes’ ride.
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