Hong Heng Mansions up for collective sale with S$133 million reserve price

HONG Heng Mansions was launched for collective sale by tender with a S$133 million reserve price on Wednesday (Feb 22), said marketing agent ERA Realty Network.

This implies a land rate of about S$1,208 per square foot per plot ratio, excluding the land betterment charge.

The freehold development in District 26 was built in the 1990s. It comprises 17 commercial units and 41 residential units.

The Urban Redevelopment Authority’s 2019 Master Plan lists it as sitting on land area spanning 78,644 square feet (sq ft). It is zoned for mixed use, and the gross plot ratio is 1.4.

The site may also be redeveloped up to a gross floor area of approximately 110,102 sq ft, subject to the relevant authorities’ approval, said ERA. This reflects an equivalent plot ratio of 1.4.

Hong Heng Mansions is along Sembawang Road, connecting Upper Thomson Road and Thomson Road. It is near Springleaf MRT station.

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Amenities in the vicinity include Orchid Country Club, Wisteria Mall and Sembawang Shopping Centre, as well as schools such as Peiying Primary School and Chung Cheng High School (Yishun).

Highlighting the ongoing rejuvenation of the Yishun, Sembawang and Mandai District, ERA noted that the vicinity will undergo significant transformation that will add value to its appeal.

The tender closes at 2 pm on Apr 18.