SINGAPORE (Mar 26): On March 21, the freehold Olina Lodge was launched for collective sale via tender, with SRI as the sole marketing agent. Olina Lodge has a land area of 84,289 sq ft and is up for sale at a reserve price of $220 million, or $1,631 psf per plot ratio (ppr). Owing to its high development baseline, there is potentially no development charge payable.

According to SRI, the land rate could be slightly below $1,500 psf ppr if the developer chooses to build an additional 10% gross floor area (GFA) for balconies. This is Olina Lodge’s third attempt at a collective sale. Situated at 15 Holland Hill in prime District 10, it is zoned “residential” under the 2014 Master Plan and has a 1.6 gross plot ratio (GPR). The redevelopment can be a 12-storey project with 128 units, assuming an average size of 1,000 sq ft each. The tender closes on April 19.

Verdun House launched for sale at $60 mil

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook