Balestier factory redeveloped into residential project
A factory at 6 Jalan Ampas might be redeveloped into a residential project in District 12, in the first collective sale of the year by Credo Real Estate.
The 27,838 sqft site, has a gross plot of 2.5 currently but could yield up to 2.8 after redevelopment. The developer is paying $27.5 million for the plot and around $18.7 million in estimate development charges. Estimated costs works out to nearly $593 psf per plot ratio.
This sounds like good news for the folks down at Balestier, as the estate sheds off its slightly run down and industrial image. We are all for redevelopment in that area as long as they don't touch Whampoa Food Centre.
via The Business Times - Balestier factory sold en bloc
image: Googlemaps
Posted on 04-02-2010 12:17 | By Francis
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