The freehold growth Cascadale on Upper Changi Road East has established its next collective sale effort. Owners of this 134-unit development previously tried to market their own house in May this year. The reserve price for its growth is unchanged at $270 million roughly $1,065 psf per plot ratio, even after depositing an estimated growth charge of roughly $15.5 million and prior to any incentive gross floor space.
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The 167,528 sq feet site has a gross plot ratio of 1.6 and may be redeveloped into a job containing around 292 units having a mean size of 915 sq feet each. The site’s proximity to Changi Airport and Changi Business Park makes it appealing for redevelopment into serviced homes, states Karamjit Singh, senior adviser at JLL.
Cascadle is 350m from Upper Changi MRT Station on the Downtown , and is near Singapore University of Technology and Design, Changi City Point, along with the Singapore Expo. The 2019 Draft Master Plan has emphasized strategies to change the Changi East region to an innovative way of life and financial crowd, centred on aviation-related companies and businesses.
“In a personal home supply standpoint, there’s not any fresh, yet-to-be-launched condominium project in District 16 from the pipeline. Together with the projected 30,000 professionals operating in Changi Business Park and since the programs for your Changi City take shape, the requirement and worth for houses there are anticipated to grow by 10% to 20 percent during the next three to five decades,” says Singh.