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UNITED Industrial Corporation (UIC) has bought a collective en bloc sale site in Upper Bukit Timah for $82.25 million, continuing its efforts to step up its residential developments.

The site, called HJ Heights, overlooks Bukit Batok Nature Park. At 207,134 sq ft it is thought to be one of the largest freehold collective sites in the area. The selling price, together with an estimated development charge of $5.73 million works out to be $303 per sq ft per plot ratio.

On Merbok Crescent, the site is zoned for residential use with a plot ratio of 1.4 and a five-storey building height. It can potentially accommodate about 230 units of 1,200 sq ft apartments. The breakeven price is expected to be $530-$540 psf on average.

UIC recently launched the 562-unit condominium, One Amber, in Katong. It also has interests in an upcoming 160-unit residential development in Tiong Bahru and a 138-unit residential development on St Patrick's Road in the east.

The latest acquisition was handled by United Premas which says that the sale has set a new benchmark for that area.

Suzie Mok, deputy director, asset management at United Premas, said: 'As reflected by the HJ Heights sale, collective sale sites with good development potential and priced correctly will continue to interest developers, though located outside the prime districts.'