In related development SRI has successfully brokered the en bloc sale of a small apartment building in District 9.
This is incidentally the first sale in the residential space for this year.
Sophia View with its five units located along the Sophia Road was bought by a private investor in the month of June.
SRI however declined to disclose the exact price for this transaction but revealed that each unit holder would earn in the range of approximately S$2 million.
Located on 108 Sophia Road, the site with 2.1 plot ratio has been zoned for residential use.
Bruce Lye, SRI’s Co-Founder and Partner said that the buyer bought the property in his own name and has kept his options open regarding redevelopment.
He said that the buyer would assess his options closely before reach out to the authorities for any change of use for the site.
Mr Lye added the buyer has a long-term plan for the property and foresees upside of this area where the valuations are likely to go up in the future.