{"id":64818,"date":"2017-08-29T05:00:08","date_gmt":"2017-08-28T22:00:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/amber-park-and-jervois-gardens-launched-for-sale\/"},"modified":"2017-08-29T05:11:14","modified_gmt":"2017-08-28T22:11:14","slug":"amber-park-and-jervois-gardens-launched-for-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/amber-park-and-jervois-gardens-launched-for-sale\/","title":{"rendered":"Amber Park and Jervois Gardens launched for sale"},"content":{"rendered":"


\nView of Amber Park, which is expected to be redeveloped into a high-rise project with sea views. (Photo: JLL)
\nThe collective sales market continues to roll on with two freehold residential developments \u2013 Amber Park and Jervois Gardens \u2013 launched for tender.
\nLocated along Amber Road in Katong, Amber Park comprises 200 units and was built in the mid-1980s. The future Tanjong Katong MRT station on the Thomson-East Coast Line is located within walking distance.\u00a0
\nSEE ALSO: Katong property up for sale
\nMore than 80 percent of the owners consented to the sale at a minimum price of $768 million. This works out to a land rate of approximately $1,284 psf per plot ratio (psf ppr), based on the allowable gross plot ratio of 2.8.
\nThe 213,670 sq ft site is zoned residential under the 2014 Master Plan and could be redeveloped into a high-rise apartment of around 24 to 26 storeys with several sea-facing units, depending on height controls imposed by the government.
\n\u201cThe last site with a land area above 200,000 sq ft that was transacted in this location was that of the ex-HUDC Amberville in 2006, which has now been redeveloped into Silversea,\u201d said Tan Hong Boon, regional director at marketing agency JLL.
\nHe added: \u201cSubject to design and approval from the Urban Redevelopment Authority (URA), a developer may potentially configure the allowable gross floor area of 598,300 sq ft into close to 800 apartments with an average size of 70 sq m (753 sq ft).\u201d
\nMeanwhile, the asking price for Jervois Gardens at Jervois Road is in the region of $68 million, or $1,297 psf ppr, said marketing agent Colliers International. Each owner is expected to get between $3 million to above $4 million from the collective sale.
\nThe 34,038 sq ft site comprises a total of 14 maisonettes and three apartments. It is located near the Tiong Bahru and Redhill MRT stations on the East-West Line.
\nZoned for residential use with a plot ratio of 1.4 under the 2014 Master Plan, the site could be re-developed into a five-storey project comprising 60 units of approximately 850 sq ft each, subject to approval by the URA.
\n\u201cFreehold sites are hard to come by in the current market and developers\u2019 landbanks are steadily depleting. Jervois Gardens offers developers the opportunity to build well-designed affordable two- and three-bedroom apartments in prime district 10,\u201d said Tang Wei Leng, managing director at Colliers.\u00a0
\nAccording to the consultancy, the selling price of newer projects in that area which are largely leasehold, such as Mon Jervois, Principal Garden, The Crest and Alex Residences are in the region of $1,900 psf to $2,350 psf.
\nThe tender exercise for Jervois Gardens and Amber Park will close on 26 September and 3 October respectively.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Amber Park and Jervois Gardens launched for sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of Amber Park, which is expected to be redeveloped into a high-rise project with...<\/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-64818","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-gRs","jetpack-related-posts":[{"id":63834,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-property-up-for-sale\/","url_meta":{"origin":64818,"position":0},"title":"Katong property up for sale","date":"August 16, 2017","format":false,"excerpt":"\r Aerial view of the freehold site at Amber Road, which has been put up for sale at a guide price of between $56.6 million and $61 million. 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Located at 45 Amber Road in District 15, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67560,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sc-global-unit-buys-jervois-gardens-for-72m\/","url_meta":{"origin":64818,"position":2},"title":"SC Global unit buys Jervois Gardens for $72m","date":"September 27, 2017","format":false,"excerpt":"\r 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78643,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-park-towers-launched-for-collective-sale\/","url_meta":{"origin":64818,"position":3},"title":"Katong Park Towers launched for collective sale","date":"February 1, 2018","format":false,"excerpt":"\r Located close to a future MRT station, the property has a reserve price of $288 million. (Photo: Cushman & Wakefield) Offering a compelling opportunity for the development of an exclusive condominium within an affluent neighbourhood in Katong, Katong Park Towers has been put up for en bloc sale carrying\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73900,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jervois-green-sold-for-52-9mil-brookvale-park-up-for-en-bloc-sale\/","url_meta":{"origin":64818,"position":4},"title":"Jervois Green sold for $52.9mil, Brookvale Park up for en bloc sale","date":"December 7, 2017","format":false,"excerpt":"\r Singapore\u2019s collective sale market continued to heat up with the sale of\u00a0 Jervois Green and the launch of Brookvale Park. A four-storey freehold development at 100A Jervois Road, Jervois Green has been sold for $52.9 million to investors led by Mike Ho, third-generation owner of Spring Court, one of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74512,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/parkway-mansion-sold-for-146-99mil-to-sustained-land-led-consortium\/","url_meta":{"origin":64818,"position":5},"title":"Parkway Mansion sold for $146.99mil to Sustained Land-led consortium","date":"December 14, 2017","format":false,"excerpt":"\r After two failed attempts at a collective sale, Parkway Mansion has finally been sold to a consortium led by Sustained Land Pte Ltd for $146.99 million. Colliers International revealed that the sale price was 6.5 percent higher than the owners\u2019 guide price of $138 million during the tender launched\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\/64818"}],"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=64818"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/64818\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=64818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=64818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=64818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}