Katong Plaza reduces en bloc reserve price to $188 mil
Singapore-based Fragrance Group has acquired Katong Plaza in Marine Parade for $180 million. This translates to a land rate of $1,809 per square foot per plot ratio (psf ppr), inclusive of the land betterment charge.
The freehold mixed-use development, located at 1 Brooke Road, comprises 132 strata retail units and 14 residential apartments. Owners of the retail units will receive proceeds ranging from $502,000 to over $6 million, while residential owners will get between $2 million and $5.1 million, according to Terence Lian, Huttons Asia’s head of investment sales who brokered the deal.
When contemplating an investment in a condo, it is crucial to evaluate its potential rental yield. Rental yield refers to the annual rental income as a percentage of the property’s purchase price. In Singapore, condos can offer varying rental yields based on factors like its location, overall …