The 999-year leasehold, four-storey condominium comprises 16 residential units and sits on the Queen Astrid Park Good Class Bungalow Area (GCBA). Photo: Knight Frank Pte Ltd.
Residential development Queen Astrid Gardens has been launched for collective sale for a guide price of $126.8 million or $2,037 per sq ft on land area, revealed exclusive marketing agent Knight Frank Singapore.
The 999-year leasehold, four-storey condominium comprises 16 residential units and sits on the Queen Astrid Park Good Class Bungalow Area (GCBA), with sizes ranging between 224 sq m and 239 sq m. Enjoying over 100 metres frontage onto Queen Astrid Gardens, the development has a site area of 5,782.6 sq m (62,243 sq ft).
Knight Frank noted that the development sits on an elevated grounds and is possibly the highest point within the locality, while the site is “one of the most prestigious GCB enclaves among the 39 gazetted GCBAs in Singapore”.
Aside from the potential of retaining its present use as apartments, the site also allows for it to be subdivided up to four GCB parcels, or for the construction of a single mansion, subject to the relevant authorities’ approval.
“Queen Astrid Gardens poses opportunities for potential buyers looking to create a family estate and leave an enduring legacy,” said Ian Loh, Head of Capital Markets for Land & Building, Collective & Strata Sales, Knight Frank Singapore.
He revealed that there are only around 2,800 GCBs within Singapore’s 39 safeguarded GCBAs. The last GCB transaction within District 10 was for over 60,000 sq ft of land in June 2015.
Suggested read: Good Class Bungalows: The Creme De La Creme of Singapore Homes
“With a very limited supply, GCBs with favourable attributes such as regular-shaped land and elevated grounds usually command good premiums over other GCBs. With the option for subdivision into several GCBs, the asset is an especially attractive proposition for home-seekers or investors looking for further wealth preservation potential, over the long term,” he added.
The tender for Queen Astrid Gardens closes on 7 October.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
Source : proppertyguru.com.sg/Property Market
Read more…Queen Astrid Gardens up for en bloc sale, owners expect 6.8mil for GCBA site
