Mountbatten condo up for collective sale

Mountbatten condo up for collective sale

A 30-year-old condominium in Mountbatten has been put up for collective sale.
The project, Katong Park Towers, sits on 99-year leasehold land with a site area of about 13,077 sq m. The 118-unit condo is still occupied.

But soon, the site could be sold for between $330 million and $340 million, or $1,145 to $1,178 per sq ft per plot ratio (psf ppr), including 10 per cent of balcony space.

The site can be developed into a 24-storey condo with a maximum gross floor area of about 27,462 sq m. Assuming an average apartment size of about 753 sq ft, the developer will be able to build about 392 units. The property is near to amenities such as Parkway Parade, 112 Katong, East Coast Park and the upcoming Sports Hub in Kallang.

Eton International Pre-School, Dunman High School, Canadian International School and Chatsworth International School are also nearby.>

The sale period opens today and closes on Nov6.

Source: The Straits Times – 10 October 2012