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Freehold Minbu Villa in Balestier up for sale at $145.8 mil reserve price

SINGAPORE (Mar 19): The freehold, 34-unit Minbu Villa (above), located off Balestier Road, has been put up for sale, with a reserve price of $145.8 million ($1,355 psf per plot ratio (ppr)). It has a 38,426 sq ft site area and a 2.8 plot ratio, which means an allowable gross floor area (GFA) of 107,593 sq ft for the new project. The redevelopment can have 142 units of 753 sq ft on average.

Savills Singapore is brokering the collective sale. Owing to the site’s high development baseline, the buyer does not have to pay development charges. Minbu Villa was completed in 1981. The tender for the District 11 property will close on April 17.

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