Sevens Group buys four strata-titled units for $10.3 mil

A freehold property comprised of four strata-titled units situated on Jalan Ulu Siglap located just off Upper East Coast Road in District 15 The property was transferred in a single transaction by property developer Sevens Group for $10.3 million.

Terra Hill Yew Siang Road floor plan will feature around 271 units to benefit from its strategic location on a unique hillside plot offering its residents a spectacular view to the south.

This property is completed the year 1984 and covers a net floor space of 5,833 sq feet. It is located on land that is 6,872 square feet which is subject to URA approval to build three-storey mixed-landed homes.

The site is just a few steps away from the soon-to-open Siglap MRT Station on the Thomson-East Coast Line. Other amenities nearby include restaurants and stores on Upper East Coast Road and malls like Siglap Centre, Bedok Mall and Parkway Parade, all of that are within a short distance by car.

Four strata apartment owners were represented by Marge Christy Ho, and Serene Goh of OrangeTee & Tie. The property was listed for sale around six weeks ago and was sold with an estimated price of $11 million.

Based on Ho and Goh Ho and Goh, the site received a variety of offers. “We received a large number of buyers who were interested, which included five developers and a handful of private buyers contemplating redevelopment of this site,” they state.

Sevens Group plans to redevelop the site into three landed homes that will comprise two corner terraces, with land sizes between 2,260 sq ft to 3,660 sq feet, along with an intermediate terrace that has an area of approximately 1,830 square feet. The homes to be built are expected to cost between $3,500 to $3,000 per square foot on the land.

“This distinctive and appealing site offered us the perfect opportunity to increase our landbanks,” says Wayne Chua Sevens Group’s marketing and sales director. “This lets us maintain a pipeline of high-quality homes that will be built through 2023. It also allows us to further strengthen our position as the top in landed developer of District 15” the director adds.

1. Jalan Ulu Siglap is located close to Woo Mon Chew Court, an apartment with six units freehold (shown with orange in the above map) that was sold as a block at $8.6 million on April 20, 2021.