3 Jalan Kemaman Site Awarded To Soilbuild With $143.88m Offer
Former Kemaman Point will be transformed to Verticus Condo by Soilbuild Group Holdings Ltd. Soilbuild is a leader in an integrated property group with successful track records of developing award-winning development. Some of their notable projects include Leonie Parc View, B-Central, Meier Suites and West Spring. We have covered a comprehensive introduction about Verticus Developer.
Verticus Condo (Former Kemaman Point)
Soilbuild won the bid with $143.88 million for the collective sale of the 89-units residential development. Kemaman Point was a freehold property by Far East Organization that was completed in the year 1993. The development consists of one building with 18 floors and a site area of 4,071.5 sq m (about 43,825 sq ft).
It was reported that each owner receive about $1.4 to $2.32 million based on the gross sale price. Knight Frank was appointed as the marketing agent to manage the collective sale. Founded in 1896, Knight Frank have over 14,000 employers in 2018. They have sold 8 residential properties for a combined quantum exceeding $3 billion via collective sale.
Knight Frank also revealed that the redevelopment of Verticus would cost them $1,173 psf ppr for a 2.8 gross plot ratio (based on the max gross floor area).
Some of the nearby schools of Verticus Condo includes Balestier Hill Primary School, Global Indian International School and Lee Kong Chian School of Medicine. Residents will enjoy the convenience of shopping malls from Balestier Plaza, Shaw Plaza and Frontiera.
Verticus Condo is said to have an unblocked view of Jalan Kemaman with low-rise landed houses around the vicinity. Wondering about the future developments around the vicinity? We have compiled a few highlights from the Novena URA Master Plan. Being in the central at Balestier, the nearest MRT station is Toa Payoh MRT and Novena MRT. For those who drive, you can drive to PIE and CTE within 20 minutes and 10 minutes respectively.
Discover what is around Verticus Condo? We have a list of eateries and more!