Mount Emily residential buildings on sale for $18mil

Located 200 m away from Little India MRT interchange, the freehold properties are near Mount Emily Park, Orchard Road and the central business district. Image: Edmund Tie & Company

A portfolio of three freehold residential buildings at 2, 4 and 6 Mount Emily Road is up for sale by tender, with a guide price of $18 million or $1,115 per sq ft (psf) based on existing gross floor area, revealed marketing agent Edmund Tie & Company.

The prime District 9 residential portfolio comprise adjoining units of three-storey buildings with basement and attic.

With an existing gross floor area of 1,499.3 sq m (16,138 sq ft), the property is nestled on 515.5 sq m (5,549 sq ft) site that is zoned for residential use under the 2019 Master Plan with a plot ratio of 2.1.

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Located within the Mount Sophia secondary settlement conservation area, the freehold properties are near Mount Emily Park, Orchard Road and the central business district. They are is also about 200 m from Little India MRT interchange, which serves the North East and Downtown MRT lines.

Swee Shou Fern, Executive Director of Investment Advisory at Edmund Tie & Company, noted that the $1,115 psf guide price “compares favourably to the recently transacted collective sale of Fairhaven and Sophia View at a combined land price of $1,158 per plot ratio (ppr) and collective sale of Casa Sophia at $1,120 ppr”.

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She revealed that no development charge is payable, due to the properties’ high existing gross floor area.

“With an affordable bite-size quantum, the properties at 2, 4 and 6 Mount Emily Road presents an exceptional opportunity for one to transform this well-located property into a boutique residential development for future sale of strata subdivided units. The 100% owners’ consent also offers certainty in deal completion timeline,” she said.

The tender exercise for 2, 4 and 6 Mount Emily Road closes on 25 February.

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This post was originally posted on Property Guru Property Market News Section