Redevelopment site at Pasir Panjang Road sold to Silver Edge Investment for $18.5 mil

A freehold domestic redevelopment spot on 303 as well as 305 Pasir Panjang Road was offered to Silver Edge Investment Holdings for $18.475 million, according to an announcement on Oct 20 from Knight Frank, which brokered the offer.

Silver Edge Investment plans to redevelop the site into specific niche ground houses, according to its supervising associate Christopher Tong. He presumes the potential houses at the area to interest home purchasers that seek “live in an exciting locale within the well established property territory at Pasir Panjang”.

Chia expects demand to follow directly from the expansion of the local wealth community including the addition of latest high-net-worth locals.

“This residential property obtained keen interest from potential clients trying to find a palatable-sized redevelopment possibility with outstanding locational characteristics,” claims Chia Mein Mein, the head of capital markets (land and collective sale) at Knight Frank. The potential for redevelopment right into houses or landed residences was a primary draw, she incorporates.

Newport Residences Singapore

More domestic plans in Silver Edge Investment’s pipe consist of 2 separated bungalows on 52 Wilkinson Road also a solo detached bungalow at 37 Poole Road, both arranged for finish lattermost of 2022.

The Pasir Panjang Road location has a land area of 16,379 sq ft as well as is zoned household usage with a gross plot rate of 1.4. The occurring project includes a primary single-storey bungalow with numerous outhouses.

Silver Edge Investment, a high-end house property developer, was established in 2017 and also presently has $50 million worth of ventures in its pipeline.

“The real estate is strategically established within lavish plant with very easy access to West Coast Park, Southern Ridges and other environment-friendly spaces near the upcoming Greater Southern Waterfront,” says Mary Sai, executive supervisor of capital markets at Knight Frank Singapore.

It lies alongside several personal homes, and is just within strolling range of Haw Par Villa MRT Station on the Circle Line. The National University of Singapore, National University Hospital, Science Park II and Mapletree Business Park are actually a short drive away.

Silver Edge Investment Holdings gained the quote at $475,000 over the guide rate of $18 million, equating to a land price of $1,128 psf.

The tender exercise was introduced on Sept 15 and closed on Oct 13.

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