The site of a nursing home in Siglap may soon make way for a new residential development, after the site was put up for sale today at a guide price of $28 million. Located at 2 and 4 Jalan Ulu Siglap, off Upper East Coast Road, it is home to LC Nursing Home, a privately owned eldercare residential nursing home which has been operating there for more than 30 years. But according to the press release by the marketing agent, CBRE, the 13,523 sq ft site has been positioned as a potential redevelopment opportunity for developers. If it is picked up for a new non-landed residential development, the guide price translates to an indicative land rate of $1,462 psf per plot ratio (ppr). This includes the land betterment charge payable for an additional 7% gross floor area (GFA) for balconies that the new development might have. But if it is turned into a new landed housing scheme, the guide price translates to $2,070 psf on the land area. According to the latest Master Plan, the site – which has a street-facing frontage of 26m and a depth of 48m –...