Allgreen Properties Ltd bought this plot of land for $533 million, and with a land size of 199,481 sqft and a plot ratio of 1.8, the site reflects a land rate of $1,540 psf ppr. Analyst from Cushman & Wakefield expects the Fourth Avenue Residences price to be selling at about $2,250 averagely when it starts launching in second half of 2018, and this is assuming that the developer’s profit margin is 10% of the gross development value.
This site, with a gross floor area of 358,932 sqft, can be built into approximately a 450 unit development, a very sizable scale given that this area consists mainly of landed houses and small condominium developments.
Fourth Avenue Residences presents a golden opportunity for both investors and buyers who are looking to make this place their home. This project is so well located in an up class estate and it is situated just besides Sixth Ave MRT Station (Downtown Line). Residents get access to a great variety of amenities that includes The Grandstand, Beauty World Centre, Bukit Timah Shopping Centre etc. The Sixth Avenue MRT is connected to Circle Line 2 stops away, and it benefits residents who are working in the burgeoning office and start-up clusters from One North all the way down to Harbour Front Station. It also works very well for people working in Raffles CBD, Orchar and also Paya Lebar/Tai Seng office cluters. In short, Fourth Avenue Residences location is extremely ideal that it allows you to travel to any parts of Singapore in a short while. Fourth Avenue Residences sit in a peaceful and upscale estate centrally located which is unparallel with a MRT connection that is underground and that by itself will be attractive to many buyers to be.