Savills News

11 Mattar Road Sold for S$8.52m

Savills has brokered the sale of 11 Mattar Road with an adjoining land strip via private treaty.

The combined freehold site of 7,842 sq ft, accommodates 4 existing walk-up apartments of approximately 2,100 sq ft each.

Conveniently located 250m from the Mattar Road MRT station on the Downtown Line, the site was sold at S$8.52m representing a land rate of S$776 per sq ft per plot ratio based on the permissible Master Plan gross plot ratio of 1.4. No development charge is payable.

Despite the current weak property market sentiments, there will always be demand for small private plots near good amenities due to the affordable quantum and more importantly, this is essentially the primary source of landbank replenishment for the boutique developers/contractors segment.

Recommended articles