Tag Archives: Sophia Mansions

Sophia Mansions launched for sale at $42.5 mil

Posted on 12 Jun 2012 | Comments Off on Sophia Mansions launched for sale at $42.5 mil

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Sophia Mansions, a 19-unit residential development located off Sophia Road, has been launched for sale by tender, with an asking price of between $42.5 million and $45 million. The asking price translates into a land rate of $1,160 to $1,228 psf ppr, which includes the development charge. The 17,500 sq ft freehold residential site has a gross plot ratio of 2.1 and a maximum building height of 36m above mean sea level. It can be redeveloped into a six-storey boutique development with 35 units of 1,000 sq ft each, and the option for a basement carpark, according to Credo Real Estate, which is handling the sale.

Yong Choon Fah, executive director of Credo Real Estate, says a new development on the site would appeal to the working class, small families and investors because of its proximity to good schools such as St Margaret’s Primary School, Singapore Management University (SMU), School of The Arts (SOTA), Nanyang Academy of Fine Arts and LaSalle College of the Arts.

New launches in the area have also seen a strong take-up rate, owing to its proximity to Orchard Road, the CBD, Dhoby Ghaut MRT interchange station, and amenities at Plaza Singapura.

Source: TheEdge – 2012 Jun 12

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Sophia Mansions up for sale by tender

Posted on 4 Jun 2012 | Comments Off on Sophia Mansions up for sale by tender

Sophia Mansions, a 19-unit residential development located along Adis Road, has been launched for sale by tender.

The 20-year-old development in District 9 sits on a freehold site with a land area of approximately 17,545 square feet (sq ft).

The marketing agent of the property Credo Real Estate said the sellers are expecting offers in the region of S$42.5 million to S$45 million.

This works out to land rates of approximately S$1,160 to S$1,228 per square foot per plot ratio at a gross plot ratio of 2.1, inclusive of development charge.

Credo said the site which sits on a high ground can be redeveloped into a boutique development of up to six-storey high with the option of a basement car park.

The potential gross floor area of about 36,840 sq ft may accommodate some 35 apartments with an average size of 1,000 sq ft depending on layout and configuration.

Credo’s executive director Ms Yong Choon Fah said: “New launches in this area generally see a strong take up rate due to its strategic locality and proximity to Orchard Road and the Central Business District area.”

She added that new developments in the area such as “Parc Sophia is fully sold and Sophia Residence which is just down the road is 99 per cent sold.”

If successful, each owner of the two-bedroom apartment will fetch an average of S$1.92 million to $2.03 million.

Meanwhile, owners of the three-bedroom apartments will get an average of S$2.56 million to S$2.71 million each.

The tender closes on June 27, 2012.

Source : CNA – 2012 Jun 4

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