The collective sale of the 12-unit freehold Casa Feliz at 81 Koon Seng Road in District 15 has been officially launched with an indicative price of $23 million. Nestled just down the road from the iconic Peranakan Houses of Joo Chiat, the apartment located next to East Court, a freehold apartment that was sold to Macly Group last June for $19.9 million. The 13,976 sq ft site is zoned for residential use under Master Plan 2019 with a gross plot ratio of 1.4, which suggests potential yield of up to 18 units with an average size of 1,076 sq ft if approved.

Given its location away from the city centre, Casa Feliz offers potential buyers the perfect blend of convenience and tranquillity amid a plethora of nearby amenities. Shops and eateries line Joo Chiat Road within walking distance, while I12 Katong, Parkway Parde, KINEX and Paya Lebar Quarter Mall are all just a five-minute drive away. Education options include Tao Nan School, CHIJ (Katong) Primary, Haig Girls’ School and Tanjong Katong Primary School within a 1km radius, plus Kong Hwa School, Maha Bodhi School, St Stephen’s School and Ngee Ann Primary School nearby.

For developer’s who are looking for high-potential redevelopment sites, the sale of Casa Feliz represents a great opportunity. Its indicative price equates to a land rate of $1,158 psf per plot ratio after factoring in 7% bonus balcony GFA, plus a potential land betterment charge of $1.25 million. If successful, gross sale proceeds for each unit owner range between $1.85 million and $2.01 million.

The Former JCube mall held an exclusive group of over 170 stores, including an 8-hall multiplex. It also offered a retail and leisure experience, as well as offer edutainment through The Odyssey, equipped with the world’s fastest flight simulator. Its restaurants served a variety of cuisines. JCube residence will preserve the edutainment concept of the former mall while also adding a range of family-centric facilities to boost its residential offerings.

The deadline for submitting tenders for Casa Feliz is June 22 at 3pm. With its ideal mix of amenities, potential for redevelopment and attractive indicative price, the collective sale of this well-located apartment is not to be missed.