CBRE relaunches tender for Newton Lodge

The 16-unit freehold apartment at 41 Newton Road is up for collective sale.

CB Richard Ellis said the regularly shaped site has an area of approximately 21,409 sq ft and is zoned Residential with plot ratio 1.4 on the Masterplan 2008.

“The reserve price is $40m. A development charge of approximately $2.5 million is estimated (September 2011 rates). This works out to $1,418 psf ppr. If a developer maximises the bonus 10 per cent balcony space, the price works out to $1,360 psf ppr with a breakeven of approximately $1,860 psf,” said CBRE.

According to CBRE, the key attractions of the site are:
1. Located less than 300m away from Novena MRT Station.
2. Proximity to a wide host of lifestyle amenities and upcoming private medical hub.
3. Regular site for excellent design flexibility.

The tender will close at 3:00 pm on 23 November 2011.