{"id":111026,"date":"2019-09-24T11:49:20","date_gmt":"2019-09-24T04:49:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/bishan-park-condominium-up-for-sale-for-680m\/"},"modified":"2019-09-24T12:06:21","modified_gmt":"2019-09-24T05:06:21","slug":"bishan-park-condominium-up-for-sale-for-680m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bishan-park-condominium-up-for-sale-for-680m\/","title":{"rendered":"Bishan Park Condominium up for sale for $680m"},"content":{"rendered":"


\nThe 99-year leasehold development, which comprises five blocks of 10 storeys each, has 71 years left on its lease.
\nBishan Park Condominium is up for collective sale, with its owners expecting to receive offers of about $680 million to $688 million.
\nLocated in District 20 at 14 Sin Ming Walk, the 320-unit development sits on a 269,796 sq ft site with a plot ratio of 2.1. After taking into account a seven percent bonus balcony gross floor area, the land rate translates to $1,122 per sq ft per plot ratio.
\nThe 99-year leasehold development, which comprises five blocks of 10 storeys each, has 71 years left on its lease.
\nAround $70 million to $75 million is required for the site\u2019s intensification and to top up the lease to a fresh 99-year lease, subject to the relevant authorities\u2019 approval.
\nWith this, each unit owner is expected to receive sales proceeds of between $1.9 million and $2.3 million, reported The Business Times.
\nBishan Park Condominium is connected to major expressways and is a 15 to 20-minute drive from the Orchard Road shopping belt and the central business district. It is also 400 m away from the soon to be built Bright Hill MRT Station along the Thomson-East Coast Line.
\nFacilities and amenities near the property include the Thomson Plaza, Upper Thomson Road stretch of eating establishments, Junction 8 malls and Bishan Park and Gardens.
\nAlso within the vicinity are educational institutions such as Raffles Institution and Catholic High School, CHIJ St Nicholas Girls\u2019 School, Ang Mo Kio Primary School and Ai Tong School.
\nAccording to Stanley Koo, ERA\u2019s division director, more than 80 percent of the condominium\u2019s proprietors by strata and share value have signed the collective sale agreement.
\nERA also noted that the proposed residential redevelopment at lot number MK18-12122X will not need a pre-application feasibility study.
\nLooking to buy a Singapore home but not sure where to start? Get insight on the best locations for your new home with our\u00a0AreaInsider\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Bishan Park Condominium up for sale for 0m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 99-year leasehold development, which comprises five blocks of 10 storeys each, has 71 years...<\/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-111026","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-sSK","jetpack-related-posts":[{"id":69748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mayfair-gardens-up-for-en-bloc-sale-at-265m\/","url_meta":{"origin":111026,"position":0},"title":"Mayfair Gardens up for en bloc sale at $265m","date":"October 23, 2017","format":false,"excerpt":"\r The asking price works out to a land rate of around $1,058 psf per plot ratio. 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