Redevelopment site at Pasir Panjang Road sold to Silver Edge Investment for $18.5 mil

Chia expects demand to come coming from the expansion of the local wealth population together with the addition of new high-net-worth citizens.

The Pasir Panjang Road location has a land area of 16,379 sq ft and is zoned property usage with a gross plot ratio of 1.4. The occurring development includes a major single-storey bungalow with numerous outhouses.

Other non commercial projects in Silver Edge Investment’s pipeline consist of two removed bungalows on 52 Wilkinson Road also a solo detached home at 37 Poole Road, each arranged for finalization lattermost of 2022.

Silver Edge Investment, a high-end home property developer, was established in 2017 and currently has $50 million value of ventures within its pipe.

“This residential property got keen interest from potential clients looking for a palatable-sized redevelopment possibility with superb locational characteristics,” states Chia Mein Mein, the head of funding markets (land and collective sale) at Knight Frank. The possibility for redevelopment right into condos or landed houses was a primary draw, she incorporates.

Silver Edge Investment Holdings gained the proposal at $475,000 on top of the overview rate of $18 million, equating to a land price of $1,128 psf.

“The real estate is strategically set up within lavish plant with easy access to West Coast Park, Southern Ridges along with other environment-friendly locations near the upcoming Greater Southern Waterfront,” states Mary Sai, managing supervisor of funding markets at Knight Frank Singapore.

Leedon Green Farrer Road

An estate property redevelopment site on 303 as well as 305 Pasir Panjang Road was sold to Silver Edge Investment Holdings for $18.475 million, according to a news release on Oct 20 from Knight Frank, which serviced the offer.

Silver Edge Investment intends to redevelop the area into specific niche ground houses, according to its handling affiliate Christopher Tong. He presumes the future residences at the area to interest residence purchasers that intend “reside in an amazing locale within the well-known domestic enclave at Pasir Panjang”.

It lies beside numerous personal homes, and is in just walking distance of Haw Par Villa MRT Station on the Circle Line. The National University of Singapore, National University Hospital, Science Park II and even Mapletree Business Park are actually a short ride away.

The tender exercise was introduced on Sept 15 and also closed on Oct 13.

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