It was reported in the 9.30pm news tonight that Marine Point has been sold for $100 million in a collective sale.
Buyer CapitaLand is redeveloping the property into a condominium with 150 units, comprising one-bedroom plus study and two-bedroom apartments.
Marine Point sits on a 51,185 sqft freehold site with a maximum gross floor area of 107,488 sqft. The Marine Point site is located along Marine Parade Road, opposite the bustling Marine Parade Town Centre and Parkway Parade shopping mall.
Inclusive of an estimated development charge of $12.8 million, the total acquisition cost works out to $1,056psf ppr.
First one to kick-start 2011, with more to go..?
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