24 Nov '17, 3am

Mayfair Gardens – Redevelopment Land off Bukit Timah sold to Oxley Holdings https://t.co/Xu6s3W0Gmm

Mayfair Gardens – Redevelopment Land off Bukit Timah sold to Oxley Holdings https://t.co/Xu6s3W0Gmm

Singapore – Knight Frank is pleased to announce that Mayfair Gardens, a 124- unit residential development located off Dunearn Road, has been sold collectively to Citrine Property Pte Ltd, a subsidiary of Oxley Holdings Ltd, for S$311 million. The sale price, with an additional lease top-up premium estimated at S$52 million payable to the state to top up the lease to a fresh 99 years, translates to a land price of approximately S$1,244 per square foot per plot ratio (psf ppr). Over 80% of the owners have consented to the en bloc sale within less than a month from the first signature. A public tender was then launched on 23 October 2017 and closed on 16 November 2017. As at the close of tender, owners of 105 out of 124 units (making up 84.33% of the total strata area and 84.58% of the total share value in Mayfair Gardens) have consented to the collective sale. Each owner wil...

Full article: https://www.iproperty.com.sg/news/mayfair-gardens-redevel...

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