Verdun House, located at the corner of Verdun Road and Sam Leong Road in Farrer Park, has been launched for sale by tender in an en bloc sale exercise. Property consultancy and investment sales specialists, Delasa (formerly known as Showsuite Consultancy), are the vendors’ appointed marketing agents.
Located some 370 metres to Farrer Park MRT station, the property has a squarish and island plot configuration with a land area of 7,300 sqft. It is zoned ‘Commercial’ in the 2019 Master Plan with a plot ratio of 4.2. It currently comprises four shops and eateries on the ground level and 12 apartments at its upper levels. The development was built in the 1980s.
Owners of 15 out of the 16 strata-titled units have consented to the sale so far, representing a mandate of over 93% of the development. The consenting owners have agreed to a reserve price of $55 million, which reflects $1,790 psf on the potential commercial use gross floor area of 30,727 sf. No development charge is payable upon its redevelopment.