It was third time unlucky for the Amber Park condominium, after yet another collective sale tender closed with no bids. The 29-year-old Katong estate condo was put on sale last month – its third attempt – with a reserve price of $743.9 million. That works out to a land cost of $1,225 per sq ft per plot ratio as the 213,676 sq ft site has a plot ratio of about 2.8.
It is among the last of the large freehold sites available here, according to the sale committee. Based on an average unit size of 753.5 sq ft, it could yield 794 units, far exceeding the current 200.
The 22,800 sq ft freehold site could accommodate up to 80 apartments. Offers of around $60 million are expected for the tender, which closes on July 28.