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Maison Royale Print E-mail



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1. Written by News on 07-08-2008 14:15
 
 
Put up for collective sale
MAISON Royale , a freehold residential site in Newton, has been put up for collective sale. 
 
Owners of the 20-unit project are asking at least $50 million. Including an estimated $300,000 development charge (DC) and taking into account a plot ratio of 2.8, the price works out to $1,273 per square foot per plot ratio (psf ppr). 
 
Maison Royale is on 14,107 sq ft of land. It is located at the junction of Newton and Surrey roads, a three-minute walk from Novena MRT station. Some 40 units of about 1,000 sq ft each can be built on the site, PropNex said. 
 
If the site is sold for $1,265 psf ppr, the breakeven cost will be around $1,665 psf, it said. The successful developer could launch the apartments in the new development at around $1,915 psf, the firm added.
 

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