20 Nov '17, 3am

Oxley acquires Mayfair Gardens for $311mil

Mayfair Gardens is a 99-years leasehold development located at 2 Rifle Range Road, a 4-storeys development that comprises 124 units. (Photo: Knight Frank) Oxley Holdings Ltd, via its subsidiary Citrine Property Pte Ltd, has acquired Mayfair Gardens for $311 million, said marketing agent Knight Frank. With an additional lease top-up premium of around $52 million, the sale price translates to a land rate of around $1,244 psf per plot ratio (ppr). Knight Frank noted that each owner stands to gain a gross sale price of about $1.7 million to $2.89 million “upon a successful sale, to several conditions being met, including an order of sale by the Strata Titles Board or High Court”. Featuring six walk-up blocks of 124 apartment units, Mayfair Gardens has a site area of 19,368 sq m or around 208,475 sq ft. It is situated within a coveted residential area, with the development near...

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

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