{"id":68318,"date":"2017-10-06T08:34:48","date_gmt":"2017-10-06T01:34:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-mansions-to-go-on-sale-for-362m\/"},"modified":"2017-10-06T09:04:00","modified_gmt":"2017-10-06T02:04:00","slug":"cairnhill-mansions-to-go-on-sale-for-362m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-mansions-to-go-on-sale-for-362m\/","title":{"rendered":"Cairnhill Mansions to go on sale for $362m"},"content":{"rendered":"


\nThe 18-storey Cairnhill Mansions comprises 61 apartments. (Photo: CBRE)
\nThe freehold Cairnhill Mansions project in District 9 will be launched for collective sale in a few weeks\u2019 time, marketing agent CBRE revealed on Thursday (5 October).
\nThe 61-unit project has a guide price of $362 million, which works out to $2,101 psf per plot ratio (psf ppr). There is no development charge payable.
\nMore than 80 percent of the owners have signed the collective sale agreement, said CBRE.
\nLocated at 69 Cairnhill Road, the approximately 43,103 sq ft site has a maximum allowable gross floor area (GFA) of 172,239 sq ft, including a 10 percent bonus GFA for balconies.
\nCairnhill Mansions is surrounded by several luxury condominiums such as Ritz Carlton Residences and The Scotts Tower. It is also close to shopping malls and hotels along Orchard Road, as well as medical facilities such as Mount Elizabeth Hospital and Paragon Medical.
\nAnother selling point is its proximity to Newton MRT station, which is the interchange station on the North-South and Downtown lines.
\nThe site could be redeveloped into a high-rise condo offering unblocked city views, and could yield up to 140 units with an average size of 1,200 sq ft.\u00a0\u00a0 \u00a0
\nGalven Tan, director, capital markets at CBRE said: \u201cCairnhill Mansions is the first prime freehold site to be offered in 2017. The last time a residential site of this size in the prime Orchard vicinity was sold was nearly 10 years ago when YTL bought Westwood Apartments for $2,525 psf ppr.\u201d
\nAccording to CBRE, the prime residential market has picked up momentum in the past year, encouraged by recent strong sales in new launches such as Martin Modern and Gramercy Park.
\nAt the same time, developers are keen to replenish their land banks as unsold inventories have fallen below the historical average.
\n\u201cWe envisage strong interest from local and overseas developers given the site\u2019s premium location and palatable deal size,\u201d said Tan.
\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…Cairnhill Mansions to go on sale for 2m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 18-storey Cairnhill Mansions comprises 61 apartments. (Photo: CBRE) The freehold Cairnhill Mansions project in...<\/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-68318","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-hLU","jetpack-related-posts":[{"id":69974,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-prime-freehold-sites-up-for-sale-for-a-total-of-477m\/","url_meta":{"origin":68318,"position":0},"title":"Two prime freehold sites up for sale for a total of $477m","date":"October 25, 2017","format":false,"excerpt":"\r Aerial view of 67 Cairnhill Road and Cairnhill Mansions. (Photo: CBRE)\u00a0 Two prime freehold sites in District 9 that are among the few remaining sizeable plots available in Cairnhill Road have been launched for sale by exclusive marketing agent CBRE on Tuesday (24 October). These comprise a 19,800 sq\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79926,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-mansions-riviera-point-sold-en-bloc\/","url_meta":{"origin":68318,"position":1},"title":"Cairnhill Mansions, Riviera Point sold en bloc","date":"February 15, 2018","format":false,"excerpt":"\r Aerial view of Cairnhill Mansions at Cairnhill Road. (Photo: CBRE) Singapore\u2019s collective sales market continues to sizzle with the sale of Cairnhill Mansions and Riviera Point for $362 million and $72 million respectively, revealed marketing agent CBRE. Nestled on a 43,103 sq ft site, Cairnhill Mansions was sold to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90937,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-acquires-more-land-in-cairnhill-eyes-bigger-redevelopment-site\/","url_meta":{"origin":68318,"position":2},"title":"Developer acquires more land in Cairnhill, eyes bigger redevelopment site","date":"June 8, 2018","format":false,"excerpt":"\r Singapore-listed Low Keng Huat previously signed a collective sales agreement to buy Cairnhill Mansions along Cairnhill Road in District 9 for $362 million. (Photo: CBRE) Glopeak Development, a unit of Singapore-listed property developer Low Keng Huat, has agreed to purchase several pieces of freehold residential land adjacent to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99342,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-mansions-collective-sale-finally-gets-green-light\/","url_meta":{"origin":68318,"position":3},"title":"Cairnhill Mansions collective sale finally gets green light","date":"October 8, 2018","format":false,"excerpt":"\r The penthouse owner who opposed the sale will receive $16 million for her 8,525 sq ft unit, up from the $15.2 million that she was supposed to get. (Photo: CBRE) The en bloc sale of Cairnhill Mansions will finally proceed at $362 million, following a settlement with the penthouse\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98050,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-condos-in-district-9-up-for-en-bloc-sale-again\/","url_meta":{"origin":68318,"position":4},"title":"Two freehold condos in District 9 up for en bloc sale again","date":"September 18, 2018","format":false,"excerpt":"\r Located near Orchard Road, Grange Heights is making a second attempt at a collective sale. (Photo: Colliers International) Undeterred by the government\u2019s property cooling measures, two freehold condos in District 9 near the Orchard Road shopping district are making another try at an en bloc sale. Grange Heights along\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81171,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-estoril-tulip-garden-up-for-collective-sale\/","url_meta":{"origin":68318,"position":5},"title":"The Estoril, Tulip Garden up for collective sale","date":"February 27, 2018","format":false,"excerpt":"\r Aerial view of Tulip Garden. (Photo: Colliers International) Two residential developments in prime district 10 \u2013 The Estoril and Tulip Garden \u2013 recently joined the en bloc sale bandwagon. Located at 95 & 97 Holland Road, The Estoril carries a guide price of $220 million, or around $1,625 psf\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\/68318"}],"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=68318"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/68318\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=68318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=68318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=68318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}