Newton – Novena freehold residential up on market in October 2nd, 2018
Three Buckley, a freehold residential development in Newton, was put up for sale on 2 Oct via expression of interest (EOI) by sole marketing agent Edmund Tie & Company (ET&Co) with a total asking price of $41 million, which translates to $1,657 psf.
Built in 2010, the property consists of 11 duplex units sited on a 15,550 sq ft site with a gross plot ratio of 1.4 and zoned for residential use under the 2014 Master Plan.
Aside from being near Newton MRT interchange and Novena MRT station, the development is also a short drive from the Central Business District.
It is also within 1km of reputable schools such as St Joseph’s Institution Junior, Anglo-Chinese School (Junior) and Anglo-Chinese School (Barker Road).
Strategically located in a central location within the highly desirable District 11, Three Buckley is close to various amenities such as malls, eateries, entertainment and lifestyle options, as well as world-class healthcare facilities. Other notable places in the vicinity include Square 2, Novena Square, Newton Food Court, Oasia Hotel Novena, Mount Elizabeth Hospital, and Revenue House.
“The property has many positive attributes such as a highly coveted freehold tenure, single ownership, prestigious District 11 address and many more. The property offers investors the flexibility of leasing out to different resident profiles – young families who prefer to stay in proximity to educational institutions, expatriates or working adults who prefer to live closer to the CBD and the future health hub,” said ET&Co’s senior director of investment advisory Tan Chun Ming.
“Most of the units are tenanted, offering stable rental income. Investors who are looking for long-term investments would find this a timely opportunity. Future en bloc or redevelopment plan would be an ideal exit strategy.”
Interested parties may submit bids for one or multiple duplex units or the entire development itself, with the EOI exercise for Three Buckley closing on 8 November.