Newton Lodge up for collective sale with S$44m minimum price

Singapore

OWNERS of Newton Lodge, a 16-unit apartment block at Newton Road, have put their freehold 21,409 square foot site up for tender at a minimum price of S$44 million.

This translates to a land rate of S$1,468 per sq ft per plot ratio (psf ppr) at a 1.4 gross plot ratio, said the property's sole marketing agent JLL. Factoring in an additional 8 per cent bonus gross floor area for balconies and communal areas, the land rate drops to about S$1,359 psf ppr. Development charges are not payable for the site's redevelopment.