A freehold residential site off Amber Road has been offered for collective sale by tender. The site at 30 and 32 Amber Gardens currently houses a development called Amber Glades, which comprises two 10-storey tower blocks with 63 units.
Consultant Colliers International, which is marketing the site, said the development has an indicative asking price of S$145 million.
A development charge of S$9 million is payable to enhance the plot ratio.
If the asking price is met, each owner can expect to receive about S$2.3 million for their units.
The site has an area of some 41,000 square feet and is regular in shape.
Under the 2003 Master Plan, the site is zoned for residential use with a gross plot ratio of 2.8.
Colliers said the site can be re-developed into a luxurious residential development accommodating 88 units of 1,300 square feet each.
The collective sale of Amber Glades will not be affected by the new en bloc legislation, as the required 80 percent consent was achieved before the amended rules kicked in on October 4. - CNA/ms
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