UOL has snatched up a freehold piece of land in Amber Road for $156m, considered a superb buy within the property market arena!
The 70,000 square feet, addressed at 45 Amber Road used be home to a landscaping and nursery for over 3 decades before the transaction.
According to UOL, this piece of prized land, sitting snugly between The Shore Residences and The Sea View, both residential developments, is good to house a new condo launch of about 190 units within a 22-storey building. UOL is very confident that this new launch is going to see very healthy demand. Market watchers can’t help but agree; reasons being the magic word “freehold” and the fact that the upcoming new launch is within the enclave of prestigious Amber Road.
Furthermore, with the proximity of amenities such as eateries, retail establishments, East Coast Park and renowned schools, this new condo is set to draw property hunters. And finally to top it all, this new launch will be minutes’ walk to the upcoming Marine Parade MRT station, slated to be ready by 2023.
UOL also mentioned that the transaction timing was near perfect to reload its land bank. This follows UOL’s success of 70 St Patrick’s, debuted in 2014. This new Singapore condo had a price tag of$1600 to $1700 per unit. All of the 186 units had been sold out.
Some Of The New Condo Launches In 2017: