In a significant property transaction, another 24 units freehold residential site at 173 – 183 Haig Road has been successfully sold via a competitive tender process. Nanshan Group made the top bid at $49.3 million, marking a momentous deal in the Singapore real estate market.
What makes this sale even more remarkable is that it fetched a price 2.7% higher than the site’s initial asking price of $48 million when it was initially launched for collective sale on March 3. The tender process concluded on April 7, culminating in Nanshan Group’s triumphant acquisition. The rebuild new development will be known as “Ardor Residence“.
This sale has garnered significant attention, and it’s no wonder why. The property in question is a four-story residential building comprising 24 apartment units, situated on a spacious 27,389 square feet site area. Under the Master Plan 2019, this site is zoned for residential use with a generous gross plot ratio of 1.4. Notably, no development charge is payable for the redevelopment of this prime property.
Situated on a corner plot, the property enjoys frontage on both Seraya Lane and Haig Road, making it a unique and highly desirable enclave. Its strategic location places it in proximity to several prestigious schools and premium lifestyle amenities, including I12 Katong, Katong Shopping Centre, Parkway Parade, and the Paya Lebar Commercial Hub.
Moreover, easy accessibility is guaranteed, as the site is well-connected by major roads and expressways such as Tanjong Katong Road, Mountbatten Road, and the East Coast Parkway (ECP) and Kallang-Paya Lebar Expressway (KPE).
Alan Tan successfully facilitated the transaction and provided expert guidance throughout the collective sale process. However, it’s worth noting that the sale of the property remains subject to the Strata Titles Board’s approval.
Nanshan Group’s acquisition of this freehold residential gem on Haig Road for $49.3 million has not only surpassed expectations but also underlines the allure of Singapore’s real estate market. This prime property offers immense potential and is poised to contribute significantly to the area’s evolving landscape.
