How valuable is the Telok Kurau freehold site for potential owners?
A freehold site at Telok Kurau is selling at S$30.6 million. How valuable is it for the developers? Can it be the ideal home for Singapore residents? What are the costs involved? Let’s find out.
What do we know about the Telok Kurau Site?
Firstly, it is a freehold site. Hence, the developers won’t have to face stringent restrictions for this land like leasehold properties. The land will be more into the control of the owner. And does not have a timeline attached to it.
The freehold site in question stretches upon 12, 12A, 20 and 28 Lorong J Telok Kurau Road. The 23,579 sq. ft. site inhabits two detached and a pair of semi detached houses. They are planned to be sold collectively with the land.
The site is residential zoned. As a result, only Singaporeans are eligible to buy the land. With a plot ratio of 1.4, the owner can build up to five storey buildings in the site.
What is the development cost of the land?
The accumulated development charge (DC) for the land is S$1.75 million. Out of this, the owner has to invest nearly S$249,028 to maximize the allowable gross floor area. Including everything, the land costs S$935 psf. And if you count in the 7% extra balcony space, the psf comes down to S$916.
What do we know about the area?
When you buy land, you must know the area you are buying into. The area and the surrounding amenities add to the value of your properties. And can also contribute as unique selling points for your establishment.
Telok Kurau is located between Geylang and Katong. Defined as a middle class estate, this area is neat and organized. You would see the roads of Telok parted in neatly stacked shophouses and landed properties. Many residents fondly call it the Pleasantville of Singapore.
Composed of large old terrace houses and bungalows, the area boasts a laidback lifestyle. However, in the last few years, many developers are also building condos and apartments in the area. Some mentionable names are Telok Mansion and Pine Court.
A mixed development like this makes a good home for growing families. There are also nearby MRTS, schools and hospitals in the area. So, if you own property or land here, the developing area can prove to be a decent habitat.
What are the perks of buying the Telok Kurau freehold site?
More freedom for developers/land owners
It is a freehold site hence you have more freedom to build houses here as you please.
Suitable for growing families
The nearby schools and boarding houses can serve as a good selling point to growing families. There are preschools such as Raffles Montessori and Little Learners. Telok Kurau Primary and Secondary schools are also present in the district.
Nearby amenities
Telok Kurau is also close to many good hospitals such as the East Shore. If you have elderly parents, you can find Hospice facilities in MKAC within reach. Thian Leng Old Folks Home and Paean Nursing homes are also in the vicinity to take care of the senior citizens.
Other than that, the place has both mosques and temples in reach for prayers. As well as eateries and other amenities to cater to your daily lives.
Can interest foreign tenants
Another attraction of Telok Kurau are the schools and boarding houses available for foreigners. Foreigners can enrol their children in East Lodge Student Hostel and Presbyterian Girls’ Hostel. This particular facility draws many overseas people to settle down in the area.
Hence, if you are looking to rent your property in the area, you can bank on foreigners as a portion of your tenants. They can be prospects for better rental yields as foreigners in Singapore are often affluent with wealthy backgrounds.
To Summarize…
The freehold site in Telok Kurau has scope to establish valuable properties. Houses that will be attractive for rental yields as well as have selling value. The area also contributes to the value of the land site. The amenities and facilities available in the area are certainly a plus. Now, it is up to the potential landowner as to how much he can see himself gain from the site.
More on Freehold site at Telok Kurau for sale at $30.6 mil, Edgeprop.
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