27 Sep '17, 5am

SC Global unit buys Jervois Gardens for $72m

Around 50 to 70 units could be built on the freehold site. (Photo Colliers International) Brownstone, a subsidiary of luxury developer SC Global, has acquired Jervois Gardens for $72 million, or $1,373 psf per plot ratio, reported Channel NewsAsia citing Colliers International. Launched for tender on 29 August, the freehold development had an asking price of about $68 million. Its third attempt at a collective sale, Jervois Gardens features two low-rise blocks of 14 maisonettes as well as three apartments. SEE ALSO: Amber Park and Jervois Gardens launched for sale Located between the future Great World City MRT station and the Redhill MRT station, the 3,162.3 sq m site has a gross plot ratio of 1.4 and is zoned residential under the 2014 Master Plan. “We received a total of eight bids for the prime freehold site, a testament to its strong redevelopment potential,” said Tan...

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

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