23 Apr '18, 2am

Dunearn Gardens sold to EL Development for $468 million

Singapore – Knight Frank is pleased to announce that Dunearn Gardens, a 114-unit residential development located off Newton Road, has been sold collectively to a fully owned subsidiary of EL Development Pte Ltd, for S$468 million. Dunearn Gardens. Picture: Knight Frank The sale price, with a development charge of approximately S$43.6 million to redevelop the site to a gross plot ratio (GPR) of 2.8 based on the maximum permissible Gross Floor Area (GFA) of approximately 267,239 sq ft, translates to a land price of approximately S$1,914 per square foot per plot ratio (psf ppr). With the inclusion of a 10% bonus balcony and a proposed plot ratio of 3.08 (2.8 + 10% balcony), the land price works out to approximately S$1,841 psf ppr, subject to the authorities’ approval. Each owner will stand to receive a gross sale price of approximately S$2.69 million to S$7.98 million upon a...

Full article: https://www.iproperty.com.sg/news/dunearn-gardens-sold-to...

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