{"id":102172,"date":"2018-12-11T13:14:54","date_gmt":"2018-12-11T06:14:54","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-view-mansions-to-go-en-bloc-at-a-lower-price\/"},"modified":"2018-12-11T14:02:50","modified_gmt":"2018-12-11T07:02:50","slug":"park-view-mansions-to-go-en-bloc-at-a-lower-price","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-view-mansions-to-go-en-bloc-at-a-lower-price\/","title":{"rendered":"Park View Mansions to go en bloc at a lower price"},"content":{"rendered":"


\nThe 160-unit residential development is located right next to the scenic Jurong Lake Gardens. (Photo: Huttons Asia)
\nPark View Mansions is set to relaunch its en bloc sale tender on Wednesday (12 Dec) at a reserve price of $250 million, down 22 percent from the $320 million price in March, reported the Business Times.
\nThis comes after more than 80 percent of the owners agreed to lower their expectations given the quieter collective sales market, said Huttons Asia.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nThe new price works out to a land rate of about $969 psf per plot ratio, after taking into account the estimated differential premium as well as lease upgrading premium of about $140.8 million.
\nIn the event of a successful sale, owners of the 191,974 sq ft development could receive $1.44 million to $1.6 million in sales proceeds.
\nLocated right next to the Jurong Lake Gardens, the 160-unit development has an allowable gross plot ratio of 2.1, which means it could generate up to 440 new housing units with an average unit size of 915 sq ft.
\n\u201cThe site presents an excellent redevelopment opportunity for developers as it is located right next to Jurong Lake Gardens. This is a rare piece of land which offers a seamless connection to the gardens and provides a natural environment, hence enhancing the well-being of residents,\u201d said Huttons Asia investment sales head Terence Lian.
\nHe also pointed to the Jurong Lake District, which is set to become Singapore\u2019s second CBD.
\nGiven the lack of new Government Land Sales sites within the area, Park View Mansions offers \u201can opportune choice for developers to replenish their land bank to match the growing and pent up demand in the Jurong area\u201d, said Angela Lim, deputy head of investment sales.
\nThe tender for Park View Mansions closes on 18 January.
\nMore:\u00a0Understanding The En Bloc Process (August 2018)
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Park View Mansions to go en bloc at a lower price<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 160-unit residential development is located right next to the scenic Jurong Lake Gardens. (Photo:...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-102172","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qzW","jetpack-related-posts":[{"id":93189,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-small-condo-projects-up-for-en-bloc-sale\/","url_meta":{"origin":102172,"position":0},"title":"Two small condo projects up for en bloc sale","date":"July 5, 2018","format":false,"excerpt":"\r The 12-unit Jansen Mansion along Jansen Road sits on a 16,592.55 sq ft site. (Photo: Huttons Asia) Two small condo developments \u2013 Jansen Mansion and Blossom Mansions \u2013 have joined the collective sale bandwagon, carrying a price tag of $22 million and $32.8 million respectively, revealed marketing agent Huttons\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-rosier-sold-en-bloc-for-271m\/","url_meta":{"origin":102172,"position":1},"title":"Sun Rosier sold en bloc for $271m","date":"September 25, 2017","format":false,"excerpt":"\r Each owner is expected to gain around $2.86 million to $4.77 million from the sale. (Photo: Google Maps) In the latest en bloc sale, SingHaiyi Group has acquired Sun Rosier condominium at 5A How Sun Drive off Bartley Road for $271 million, up 15.3 percent from its $235 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59606,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tampines-court-to-go-en-bloc-again\/","url_meta":{"origin":102172,"position":2},"title":"Tampines Court to go en bloc again","date":"July 3, 2017","format":false,"excerpt":"\r \u00a0 For the third time, Tampines Court will once again hit the collective sales market on Tuesday carrying an indicative price of S$960 million, after 82 percent of its owners consented to the sale. The former Housing and Urban Development Company (HUDC) estate\u2019s first attempt at an en bloc\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73700,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-up-for-en-bloc-sale-for-s818mil\/","url_meta":{"origin":102172,"position":3},"title":"Park West up for en bloc sale for S$818mil","date":"December 5, 2017","format":false,"excerpt":"\r After two failed attempts at a collective sale in 2007 and 2011, Park West condominium near Clementi MRT station has once again been put up for en bloc sale with an asking price of S$818 million, reported Channel News Asia. This comes after over 80 percent of the owners\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91720,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gloria-mansion-in-district-5-up-for-en-bloc-sale-at-79m\/","url_meta":{"origin":102172,"position":4},"title":"Gloria Mansion in District 5 up for en bloc sale at $79m","date":"June 19, 2018","format":false,"excerpt":"\r The hilltop apartment at Pasir Panjang Road is close to Haw Par Villa MRT station, the West Coast Highway and Ayer Rajah Expressway. (Photo: Huttons Asia) Gloria Mansion, a freehold residential development at Pasir Panjang Road, has been put up for collective sale with a reserve price of $79\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76976,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/balmoral-gardens-launched-for-en-bloc-sale-owners-expect-over-92m\/","url_meta":{"origin":102172,"position":5},"title":"Balmoral Gardens launched for en bloc sale, owners expect over $92m","date":"January 17, 2018","format":false,"excerpt":"\r Balmoral Gardens, a 40-unit freehold condominium near Orchard Road, has joined the collective sales frenzy today (17 January), with owners expecting offers of more than $92 million. According to sole marketing agent Huttons Asia, all residents have agreed to the en bloc sale. \u201cWith full consensus from the owners,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/102172"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=102172"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/102172\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=102172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=102172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=102172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}