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Sophia Court up for enbloc sale
Posted: 18 August 2006 1633 hrs

Owners of Sophia Court at No. 32, Adis Road, have decided to sell their development by collective sale.

They are hoping to fetch $250 million for the development which translates to about $718 per square foot per plot ratio, inclusive of an estimated development charge of $821,000.

CB Richard Ellis, which is handling the sale, says 152 of the 188 owners or 81 percent have agreed to the collective sale.

The site has a land area of 166,140 square feet and a plot ratio of 2.1.

The developer can build about 230 units on the site, assuming an average size of 1,500 square feet each.

The tender closes at 3 pm on 21 September 2006. - CNA/ir