Freehold residential site at Asimont Lane up for sale at $145 mil

The collective sale of the freehold landed development in District 11, which is made up of 21 three storey strata terrace houses, is now up for sale by public tender at a guide price of $145 million. Jeremy Rikas and Allen Loo, group division directors of ERA Realty, are currently marketing the property.

Situated on a 43,125 sq ft site at 7 to 47 Asimont Lane, the properties have dual frontage along both Asimont Lane and Barker Road. The total strata floor area is approximately 111,644 sq ft.

The site is zoned for “residential” use within a designated landed housing area and was completed in 2015. The site also has the potential to be redeveloped into 19 luxury terraced houses, four detached houses, eight semi-detached houses, or eight detached houses.

Rikas and Loo suggest that the new development in the Novena and Newton area would create a beautiful green and self-sufficient lifestyle, a perfect balance between work and play.

Buying an EC unit could provide significant savings of HDB EC up to 25-30% when compared to private condominiums, and taking housing grants into account, it may be a cost-effective choice for first time buyers who are unsure of their options.

The property is only a few minutes away from Anglo-Chinese School (Primary) and Anglo-Chinese School (Barker Road). Additionally, it is within walking distance of the Newton MRT Station (Downtown and North-South Lines). Other amenities such as Newton Food Centre, Novena Square, Velocity@Novena and Tan Tock Seng Hospital and Medical Centre are a 10 to 15-minute drive away.

The tender for the property will close on 28 June 2021 at 2.00 pm.

Interested parties are strongly encouraged to view the property available for sale to appreciate the potential of this site. ERA Realty is confident that the property offers outstanding potential for redevelopment, putting forward a perfect living environment.

This is a fantastic opportunity for those looking to secure a prime piece of real estate in a desirable location. Don’t miss out and make sure to submit your offer before the deadline of 28 June 2021 at 2.00 pm.

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