on EdgeProp.sg here
Hong Heng Mansions, a freehold condo located on Sembawang Road, has launched its collective sale with a reserve price of $133 million. The reserve price translates to a land rate of approximately $1,208 psf per plot ratio (ppr) which excludes land betterment charges. According to the current Master Plan, the 78,644 sq ft plot is zoned as “residential with commercial at 1st storey”, with a maximum building height of four stories.
This development is surrounded by Orchid Country Club, Wisteria Mall, Sembawang Shopping Centre, Sun Plaza, Canberra Plaza and Thomson Plaza – making it a good investment opportunity for residential or commercial use. It is also conveniently located near Springleaf MRT Station, a 500m distance.
Peiying Primary School, North View Primary School, Naval Base Secondary School, Orchid Park Secondary School, and Chung Cheng High School (Yishun) are all within a 2km radius of Hong Heng Mansions.
If this development Champions Way Condo is sold at the reserve price of $133 million, EdgeProp’s Landlens tool estimates that the new development could reach an approximate selling price of $2,160 psf. This is a price which Jeremy Rikas Chiu, group division director of ERA Realty Network, and Allen Loo, division director, believe will attract local and overseas developers due to Hong Heng Mansions’ attractive location and competitive pricing.
For those interested in buying this development, the tender for Hong Heng Mansions’ collective sale will close on April 18. To stay up to date with the latest information regarding the sale and other Singapore commercial properties, visit EdgeProp.sg and check out their listings near Hong Heng Mansions, Springleaf MRT Station, Peiying Primary School, North View Primary School, Naval Base Secondary School, Orchid Park Secondary School, and Chung Cheng High School (Yishun).