Verticus @ Balestier condo is a private residential development with a site area of 4,071.5 sqm (about 43,825 sqft). Located just minutes drive away from Novena Medical hub, where a host of amenities are readily available like retail outlets, supermarkets, restaurants and eating establishments, banks, and other entertainment facilities, Verticus at Balestier’s vicinity is predominantly surrounded by landed homes, high-rise condominiums and retail shops. The site is well-served by major arterial roads and convenient expressways near Balestier Road, Pan-Island Expressway (PIE) and Central Expressway (CTE), which provide seamless connectivity to other parts of Singapore.
|Project Name||Verticus @ Balestier|
|Address||5 Jalan Kemaman|
|Site Area||approx 43,825 sqft|
|Description||A freehold residential redevelopment comprising communal facilities|
|Type||Size||No of Units|
The new condo verticus @ balestier is located at the former Kemaman Point located at no 5 Jalan Kemaman, in district 12 where its very convenient to access the nearest train stations such as Toa Payoh (NS19), that is only around 10 minutes walk away from Verticus condo.
Soilbuild Group Holdings has won the tender for the collective sale of the 89-unit residential development along Balestier Road, Kemaman Point, with a bid of S$143.88 million.
Marketing agent for the collective sale of Kemaman Point, Knight Frank, said that each owner stands to receive a gross sale price of about S$1.4 million to S$2.32 million on a successful sale to Soilbuild. The sale of the property is subject to several conditions, including an order of the sale by the Strata Titles Board or the High Court.
The sale price to redevelop the site to a gross plot ratio (GPR) of 2.8 based on the maximum permissible Gross Floor Area (GFA) of about 122,711 square feet (sqft), translates to a land price of about S$1,173 per square foot per plot ratio (psf ppr), Knight Frank said. With the inclusion of a 10 per cent bonus balcony and a proposed plot ratio of 3.08, the land price works out to about S$1,111 psf ppr, inclusive of a development charge of about S$6.1 million, it added.
Kemaman Point is a private residential estate comprising one residential block of 89 apartment units ranging from 79 square metres (sq m) to 159 sqm, and has a site area of 4,071.5 sqm (about 43,825 sqft).
Peter Mao, chairman of the Collective Sale Committee of Kemaman Point, said: “The (collective sale) process has been transparent and we hope to garner the 100 % consensus to quicken the process for owners to proceed with their next home purchase.” Adapted From The Business Times
verticus @ balestier condo is located in a prime location with loads of great food and restaurants below, other restaurants within walking distance are Boon Tong Kee, Loy kee Chicken Rice, Founder Bak Ku Tee and more. Do see more of the amenities below.
Most importantly, the Verticus condo psf is expected to be $1900 or so (subject to changes), which is almost cheaper than other 99 year leasehold condo in the market.
Investors rejoice!!! Expect rental yield of 3% upwards based on nearby condo rental transactions.
Launch date is expected to be around Sep 2019, you can register your interest with us @ 9353 0099 for the latest Verticus floorplan, Verticus price and news releases.