Residential land 207388 sq.ft

REDUCED!!! REDUCED!!! REDUCED!!!

Approximately 5 Acres Freehold Land T&C Approved for Development– Chin Chin (Cunupia)

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Together with our Partnering Agents, we present a property which was granted Town & Country’s Approval for Development in Dec2022. The freehold property is located just off Chin Chin Road (a couple mins walk), 6mins from the Southern Main Road. After further consideration by the Seller, the price now stands at a bargain of $4.5mil but to sweeten the deal it is reduced to $4.3mil. We are of the opinion that this price is very conservative (underpriced) based on the following:

1. Comparable land properties in Cunupia are priced higher:

a) Another 5 acres of land with Outline approval, currently priced at $8.3mil

b) There is a 5.5 acres of land with NO approvals, currently priced at $5mil

2. The innovative Developer who acquires this property will have a viable opportunity to generate revenue and profits by:

a) selling the individual lots to Buyers looking to build their own homes

b) building the necessary infrastructure required to secure final Regional Corporation approval which will further increase the value per lot, depending on its size, conservatively ranging between $505,000 to $650,000 per lot. This conservatively translates to Approximately $10.5mil in overall sale revenue.

c) By creating additional value for potential homeowners by building houses on each lot (Conservatively generate revenue of approximately $25mil in sales).

At this location, in Cunupia, the future residence will have close access to medical services, groceries/supermarkets, shopping centres/restaurants, gas stations, schools, recreational grounds, places of worship, banking, commerce and many more.

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Property features & benefits:

- 5 acres of Freehold Land in Cunupia (Chin Chin)

- Town & Country’s Approval for Development in Dec2022

- EMA Certificate of Environmental Clearance

- Under-priced $4.5mil has been reduced to $4.3mil

- Multiple routes and access to the East-West Corridor and Central

- Full utilities and connections in front of the property

- Paved Asphalt Road leading to the property

- Built houses around the property

- No flooding issue

- 6mins from the Southern Main Road

- Potential to generate approximately $25mil in revenue by building houses on each lot

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