Picture : Green Collection overlooking Tanjong GolfA new record price has been set for a 6,600-square-metre residential site on Sentosa.
The Green Collection, Sentosa Cove's only strata landed housing development, has fetched a bid of more than S$78 million or S$1,099 per square foot per plot ratio.
Boutique developer Elevation Developments submitted the highest of eight bids received at the close of an Expressions of Interest for the site last month.
Sentosa Cove says this surpassed the last en bloc sale price of Sandy Island at $771.25 psf per plot ratio in March this year by 42.5%.
The Green Collection is the only land parcel on Sentosa Cove to have the flexibility to design and develop either strata terrace, semi-detached or detached houses with shared recreational facilities.
With a plot ratio of one, it can allow up to 20 homes with shared facilities such as a swimming pool or gymnasium to be built.
With the relaxation of foreign ownership of landed homes in Sentosa Cove, foreigners will be eligible to buy these strata landed homes.
Sentosa Cove is situated on the eastern end of Sentosa Island.
When completed in 2010, the sprawling 117-hectare development will see a total of 2,500 homes.
Elevation Developments is a boutique developer of landed residential property in Singapore.
It is associated with upmarket Good Class Bungalows including some 20 current projects in prime areas of Swettenham Road, Nassim Road and Gallop Road. - CNA/ir
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