Four freehold strata-titled apartments sold to Sevens Group at 1 Jalan Ulu Siglap
A freehold property comprised of four strata-titled units situated on Jalan Ulu Siglap located situated off Upper East Coast Road in District 15 It was transferred in a single transaction by property developer Sevens Group for $10.3 million.
The Reserve Residences sales gallery taking advantage of the convenient location and the neighbourhood’s lush greenery with laid-back charm, the future owners can look forward to great living spaces.
This property is completed the year 1984 and covers a surface area gross of 5,833 square feet. It is located on land that is 6,872 square feet which is subject to URA approval to build three-storey mixed-landed homes.
The site is close to the planned Siglap MRT Station on the Thomson-East Coast Line. Other amenities nearby include restaurants and shops on Upper East Coast Road and malls like Siglap Centre, Bedok Mall and Parkway Parade, all of which are within a brief distance by car.
Four strata apartment owners were represented by Marge Christy Ho, and Serene Goh of OrangeTee & Tie. The property was placed on the market about six weeks ago and was sold with an estimate of $11 million.
Based on Ho and Goh Ho and Goh, the site received a variety of offers. “We received a large number of buyers who were interested, which included five developers and a handful of private buyers considering redeveloping this site,” they state.
Sevens Group plans to redevelop the site into three landed houses that comprise two corner terraces that cover land sizes between 2,260 sq feet and 3,660 sq ft along with an intermediate terrace that has an area of approximately 1,830 square feet. The new homes are expected to cost between $3,500 to $3,000 per square foot on the land.
“This unusual and beautiful site offered us the perfect opportunity to increase our landbanks,” says Wayne Chua Sevens Group’s marketing and sales director. “This lets us build a steady pipeline of high-quality homes through 2023, and further strengthen our position as the top in landed developer within District 15” the director adds.
1. Jalan Ulu Siglap is located just a few minutes away from Woo Mon Chew Court, an apartment with six units freehold (shown as orange on this map) that was sold as a block at $8.6 million on April 20, 2021.