Freehold Kartar Apartments on Thomson Road for sale at $18.5 mil


The residential property rests on a 7,300 sq ft plot as well as has a gross flooring area (GFA) of 8,300 sq ft. The asking cost equate to a land price of $917 psf per plot ratio, consisting of property charges, states Delasa. “At this price, a developer might presume to break-even at around $1,800 psf, subject to approvals from the authorities,” states Karamjit Singh, Chief Executive Officer of Delasa.

The building has to do with 300m from United Square Shopping Mall as well as is also near to Novena MRT Terminal on the North-South Line.

The area is zoned “domestic” under the most recent Master Plan with a permitted plot rate of 2.8. This results in a prospective GFA of 20,400 sq ft, subject to approvals.

According to a notice by the marketing representative, the property flats is being marketed by a family-owned company which developed the project, Kartar Apartments, in the 1980s.

According to the press launch, this development has actually originally been offered in November 2021 with a requesting rate of $18 million. An investor originally set the option to purchase the building that month, yet could not finish the purchase because of funding issues.

“While doing so, the buyer had acquired a recommendations from the Urban Redevelopment Authority in feedback to a provisional authorization application sustaining the redevelopment of the plot right into a serviced flat development,” says Singh.

He adds that this establishes the redevelopment chances for the area more appealing for developers or brokers to capitalise on the tight rental market. The area could be redeveloped right into an apartment development with 22 units with a standard dimension of 915 sq ft, says Singh.

Sceneca Residences Tanah Merah

A four-storey apartment building at 41 & 43 Thomson Road has been sold by exclusive treaty with an asking price of $18.5 million. The real estate is marketed by building consultancy Delasa.


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