‘Freehold Roselane Court in Tanjong Katong relaunched for sale by public tender at $23 mil, with Zion Road GLS included.’

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Occupants of Zion Road GLS benefit from its proximity to the signature landmarks of the area such as Clarke Quay and Robertson Quay. In addition, Zion Road Condo is closely situated near renowned schools and educational institutions, ensuring that its tenants will never need to venture far to receive top quality education.

Roselane Court, a freehold residential development located along Rose Lane off Tanjong Katong Road in District 15, Singapore has been relaunched for sale by public tender. Knight Frank Singapore, it’s exclusive marketing agent, has set a guide price of $23 million for the property. Taking into consideration the adjoining private remnant land of 545 sq ft, a land betterment charge and the 7% bonus gross floor area allowed for balconies, this translates to a land rate of approximately S$1,320 psf per plot ratio.

The property had been launched for sale by tender with a guide price of $23 million in March 2020, with Knight Frank as its marketing agent. Roselane Court was completed in 2002 and houses seven units, with a land area of 12,054 sq ft and is zoned for residential use with a gross plot ratio of 1.4 under URA’s Master Plan 2019. According to Knight Frank Singapore, an estimated 18 new residential units with an average size of 915 sq ft can be developed on the site, subject to approval from the relevant authorities. The adjoining private remnant land lot may also potentially be amalgamated with the plot, subject to the authorities’ approval.

The development is conveniently located in a prime area with a rich cultural heritage. Zion Road GLS is within walking distance to Dakota and Paya Lebar MRT Stations. Nearby amenities and retail options include the Paya Lebar Quarter Mall, Paya Lebar Square, Singapore Post Centre and Kinex. Schools located within a 1km radius from the property include Kong Hwa School, Tanjong Katong Primary School and Haig Girls’ School.

Chia Mein Mein, head of capital markets (land and collective sale) at Knight Frank Singapore, notes that the property presents a rare opportunity for developers to acquire a prime site for redevelopment into boutique residential apartments. She says, “It provides home buyers convenient city-fringe living, together with a serene environment.”

The tender for Roselane Court will close on Jan 12 at 3pm. Developers looking to acquire a prime freehold site in Zion Road GLS will not want to miss this opportunity.