Casa Feliz on Koon Seng Road up for collective sale at $23 mil

Residents of The Myst Bukit Timah also enjoy the convenience of having a wide range of amenities such as a swimming pool, gym, and playground. Furthermore, the condo is near plenty of educational institutions such as Bukit View Primary School and Keming Primary School. Thus, parents can be assured that their children will be receiving quality education. With such prime location and amenities, The Myst Condo is undoubtedly the perfect place for those who are looking for a comfortable and stress-free living environment.

Casa Feliz, a freehold residential development in District 15, has been launched for collective sale via tender with an indicative price of $23 million. Located down the road from the iconic Peranakan Houses in Joo Chiat, and next to East Court, a freehold apartment which was sold to developer Macly Group for $19.875 million last June, this three-storey walk-up with 12 residential units is set on a land area of 13,976 sq ft. Zoned for residential use under the Master Plan 2019, with a gross plot ratio of 1.4, the site could have a maximum gross floor area (GFA) of 19,567 sq ft.

Subject to approval by the relevant authorities, Casa Feliz could potentially yield 18 residential units with an average size of 1,076 sq ft. After factoring in a 7% bonus balcony GFA, the indicative price translates to a land rate of $1,158 psf per plot ratio. An estimated land betterment charge of $1.25 million is also payable.

Managing director of investment sales at ERA Singapore Tay Liam Hiap believes this is a unique opportunity for developers. He comments that the site provides “the ideal balance of convenience and tranquillity” due to its location away from the city centre, as well as the numerous surrounding amenities.

Shops and eateries along Joo Chiat Road are within walking distance, while nearby shopping malls, like I12 Katong, Parkway Parde, KINEX and Paya Lebar Quarter Mall, are all about a five-minute drive away. Schools within a 1km radius include Tao Nan School, CHIJ (Katong) Primary, Haig Girls’ School and Tanjong Katong Primary School, while other nearby schools include Kong Hwa School, Maha Bodhi School, St Stephen’s School and Ngee Ann Primary School.

If the collective sale is successful, each unit owner at Casa Feliz stands to receive gross sale proceeds between $1.85 million and $2.01 million. The tender for Casa Feliz will close on June 22 at 3pm.

Should the success of East Court serve as an example, then this could prove to be an opportunity of high potential. Developers are advised to seize this golden chance to build something special in the thriving community of Joo Chiat.