Located in the East Coast precinct along Fernwood Terrace (just opposite Mandarin Gardens), Fernwood Towers will be put up for en bloc with an asking price of $688 million or $1,540 per square foot per plot ratio (psf ppr).
The 216-unit freehold condominium in Singapore was completed back in 1994. It has an estimated land size of 148,963 square feet and a gross plot ratio of 3.0.
The Fernwood Towers site has a redevelopment potential to yield 590 private homes. It is based on a maximum gross floor area (GFA) of 446,889 sq feet and estimated average apartment size of 753 sq feet.
One of the key features of the Fernwood Towers en bloc site is that it offers residents spectacular sea views towards the south and panoramic unblocked views towards the north, overlooking landed homes around Siglap and Fernwood Terrace.
In addition, Fernwood Towers is within close proximity to the future Siglap MRT station and other amenities such as the Parkway Parade shopping centre, East Coast Park. Many top-notch educational institutes such as Victoria School, Victoria Junior College, and Tao Nan Primary School are also nearby.
For frequent travelers, Changi Airport is also a mere 10-minute car ride away.
It was noted that there haven’t been many new launch projects around the area over the last few years. The latest one would be Seaside Residences by Frasers Property.