22 Oct '17, 5pm

Mayfair Gardens up for en bloc sale at $265m

The asking price works out to a land rate of around $1,058 psf per plot ratio. (Photo: Knight Frank) Mayfair Gardens off Dunearn Road has been launched for collective sale, with the owners expecting offers above the reserve price of $265 million, according to marketing agent Knight Frank. Built in the 1980s, the 99-year leasehold condominium comprises six walk-up blocks of 124 units ranging from 100 sq m to 200 sq m (1,076 to 2,153 sq ft). The approximately 208,475 sq ft site is zoned residential with a gross plot ratio of 1.4 under the 2014 Master Plan. The asking price works out to a land rate of around $1,058 psf per plot ratio (psf ppr), inclusive of an additional lease top-up premium of about $43.7 million for a fresh 99-year lease. Each owner could receive about $1.45 million to $2.46 million if the sale goes through, said Knight Frank. The site could be redeveloped ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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Mayfair Gardens put up for collective sale

Mayfair Gardens put up for collective sale

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