Bukit Sembawang Estates won the collective earnings at Old Katong Park Towers at the 1st quarter 2018. It’s a site area of 140,758 square feet and is situated about 200 metres in the future Katong Park MRT Station, which is slated for completion at 2023.
The 99-year leasehold Mountbatten Residences condominium happen to be snapped up by land developer Bukit Sembawang Estates to get S$345 million. Originally, Katong Park Towers has been set up for en bloc sale with a cost of no less than S$288 million. Thus the final tender cost is roughly 20% over that. Homeowners for the normal apartment units at Katong Park Towers can anticipate a earnings move between S$2.25 million — S$3.23 million, although the penthouse owners may anticipate payout beginning from S$4.95 million into a whopping S$12.08 million (for its largest penthouse unit).
The Mountbatten Residences website includes a 2.1 plot ratio and also the future new launching project can be redeveloped to a 24-storey personal residential development. In the selling price of $345 million, the property speed for Mountbatten Residences equates to $1,280 per sq feet per storyline up into the growth baseline, considering that an estimated $60 million for its rental updating premium.
Other improvements which are neighboring New Penrose by CDL in Mountabtten Road comprise 8M Residences, Meyer Melodia, The View @ Meyer, The Meyerise, along with also The Seafront On Meyer.
Mountbatten Residences in Mountbatten Road- Connectivity
Mountbatten Residences condominium is roughly 200 m from Katong Park MRT Station that will begin working in 2023. As of present, Mountbatten Residences condois about 1 km from Mountbatten Train Station that functions the Circle Line. Prospective residents of Mountbatten Residences Bukit Sembawang can have a brief stroll to Mountbatten Road that has bus services which will bring them straight to the train station. The Mountbatten Train Station is also only two stops from Paya Lebar Train Interchange at which the East West Train Services are all readily available.
Mountbatten Residences is Only a Brief distance to the primary Mountbatten Road which connects to Fort Road and the East Coast Parkway (ECP). This permits 6 minutes of driveway to get into the Shenton Way out of Mountbatten Residences and 7 minutes of driveway into the Orchard Shopping Belt. The ECP also permits prospective residents to readily connect to different significant expressways like the Kallang Paya Lebar Expressway (KPE), the Pan Island Expressway (PIE) and the Ayer Rajah Expressway (AYE) that makes driving to several elements of Singpapore a breeze.
Readmore: CDL and Hong Leong To Launch Penrose Condo at Sims Drive in 2020
