Kovan Lodge is a freehold condominium development situated at 51A, Kovan Road (S)548135 at District 19.
The collective sales market continues to heat up with the launching of two websites — that the freehold development of Kovan Lodge and 43-unit Ampas Apartments reported The Straits Times.
Located on a 27,091 sq ft website, Kovan Lodge is a four-storey property featuring 16 flats with a entire strata region of 30,440 sq ft. Located near Heartland Mall-Kovan and Kovan MRT station, the site is zoned for residential use under the 2014 Master Plan using a plot ratio of 1.4.
The proprietors of Kovan Lodge are requesting for $43 million, which works out to $1,134 psf per plot ratio (ppr), stated advertising representative Huttons Asia, while imagining that no development fee is payable for the website.
Meanwhile, the proprietors of Ampas Apartments are requesting $105 million.
Inclusive of a development charge of about $523,092, the asking cost works out to about $1,246 psf ppr.
Located near Shaw Plaza and Balestier Plaza, the 16-storey Ampas Apartments includes a entire strata region of about 60,612 sq ft. The website, which will be zoned for residential use, has a plot ratio of 2.8.
Stephen Tan, head of collective earnings at Huttons, however, noted he wasn’t authorised by the earnings committees of both developments to reveal their respective reserve rates.