05 Jun '18, 1am

Novena properties ripe for en bloc activity

Yet another property in Novena has been put up for en bloc sale. This time, it is the 24-unit Gilstead Mansion. Private low-rise property near Novena MRT station Gilstead Mansion Just a stone’s throw away from the Novena MRT station , Gilstead Mansion is joining the ranks of older establishments in the Novena area putting themselves in the collective sale market. Prices are expected to hover around $68 million. Minbu Villas Other properties in the area which have gone en bloc this year include Goldhill Shopping Centre, 27 Moulmein Rise, and Minbu Villa . There were also a couple of successes. Dunearn Garden and Chancery Court have both been sold for $1,914 psf and $1,610 psf ppr. A plus for the site is that its freehold status. With a land area of 35,751 sq ft and a gross plot ratio of 1.22, the existing gross floor area is about 43,463.0 sq ft. There is no development cha...

Full article: https://www.iproperty.com.sg/news/novena-properties-ripe-...

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