Thursday, January 24, 2013

21 Anderson put up for sale for $250-260m


21 ANDERSON, Royal Oak Residence, a freehold residential property within the Ardmore Park vicinity is up for sale, with an indicative pricing of $250-260 million.
The Business Times
January 24, 2013

21 ANDERSON, Royal Oak Residence, a freehold residential property within the Ardmore Park vicinity is up for sale, with an indicative pricing of $250-260 million.

The 10-storey freehold residential development comprises 34 units with a strata area of 85,552 sq ft and land area of 49,048 sq ft. Currently, close to 100 per cent of the units are leased out.

"While the vendor is selling the asset, potential investors may also consider acquiring shares in the company that owns the property, thereby realising Additional Buyers' Stamp Duty (ABSD) savings," said Ashish Manchharam, regional director of investments at Jones Lang LaSalle, the exclusive marketing agent for the property.

"The opportunity to acquire an income-generating freehold residential property within the Ardmore Park vicinity is rarely available.

This offering provides the ability to capitalise on future appreciation via sale of existing units in the medium term and long term redevelopment potential while providing for steady income in the interim," Mr Manchharam added. In addition, Outline Planning Permission has been obtained for conversion to serviced apartments, providing investors with flexibility in exit options, noted Mr Manchharam.

Situated at the fringe of the Ardmore Park residential enclave, 21 Anderson is located within a short distance of the Orchard Road shopping belt, and close to a number of schools including Raffles Girls' School, Anglo-Chinese School and the Chinese International School.

The development underwent major refurbishment works which were completed in 2009. Units in this development are accessed through private lift lobbies and have amenities which include concierge services, a swimming pool, tennis courts, gymnasium, a BBQ area and a children's playground.

The expression of interest exercise is scheduled to close at 3pm on Feb 28.



Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
Email: marshe_inc@yahoo.com.sg
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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