{"id":72291,"date":"2017-11-20T10:37:43","date_gmt":"2017-11-20T03:37:43","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-acquires-mayfair-gardens-for-311mil\/"},"modified":"2017-11-20T11:03:44","modified_gmt":"2017-11-20T04:03:44","slug":"oxley-acquires-mayfair-gardens-for-311mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-acquires-mayfair-gardens-for-311mil\/","title":{"rendered":"Oxley acquires Mayfair Gardens for $311mil"},"content":{"rendered":"


\nMayfair Gardens is a 99-years leasehold development located at 2 Rifle Range Road, a 4-storeys development that comprises 124 units. (Photo: Knight Frank)
\nOxley Holdings Ltd, via its subsidiary Citrine Property Pte Ltd, has acquired Mayfair Gardens for $311 million, said marketing agent Knight Frank.
\nWith an additional lease top-up premium of around $52 million, the sale price translates to a land rate of around $1,244 psf per plot ratio (ppr).
\nKnight Frank noted that each owner stands to gain a gross sale price of about $1.7 million to $2.89 million \u201cupon a successful sale, to several conditions being met, including an order of sale by the Strata Titles Board or High Court\u201d.
\nFeaturing six walk-up blocks of 124 apartment units, Mayfair Gardens has a site area of 19,368 sq m or around 208,475 sq ft. It is situated within a coveted residential area, with the development near various amenities, reputable schools and King Albert Park MRT Station.
\n\u201cThe new development could potentially house 387 residential units, assuming 70 sq m on average given its desirable location. At the sale price of $311 million, the breakeven price for the new project is estimated at $1,780 psf,\u201d said Knight Frank executive director and head of investment & capital markets Ian Loh.
\nIn an SGX filing, Oxley revealed that the purchase price will be funded by bank borrowings and internal resources.
\nOxley does not expect the purchase to materially affect the company\u2019s earnings per share or net tangible assets per share for the current financial year ending 30 June 2018.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Oxley acquires Mayfair Gardens for 1mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mayfair Gardens is a 99-years leasehold development located at 2 Rifle Range Road, a 4-storeys...<\/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-72291","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-iNZ","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":72291,"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. (Photo: Knight Frank) Mayfair Gardens off Dunearn Road has been launched for collective sale, with the owners expecting offers above the reserve price of $265 million, according to marketing agent Knight Frank. Built\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97776,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxleys-mayfair-gardens-to-preview-this-weekend\/","url_meta":{"origin":72291,"position":1},"title":"Oxley\u2019s Mayfair Gardens to preview this weekend","date":"September 13, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Mayfair Gardens, an upcoming high-end condo in Bukit Timah. Mayfair Gardens, a high-end private condominium with 215 units along Rifle Range Road in Bukit Timah, is set to open for preview this weekend (15-16 Sept), according to its developer Oxley Holdings. Inspired by the buildings in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98964,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/40-percent-of-mayfair-gardens-sold-over-launch-weekend\/","url_meta":{"origin":72291,"position":2},"title":"40 percent of Mayfair Gardens sold over launch weekend","date":"October 2, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Mayfair Gardens, a high-end condo in Bukit Timah. Mayfair Gardens, Oxley Holdings\u2019 latest luxury condominium project in Bukit Timah, moved 40 percent or 87 of its 215 units during its launch weekend on 29 to 30 September. With an average price of $1,900 psf, the units\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69798,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-court-sold-to-roxy-pacific-for-36-3m\/","url_meta":{"origin":72291,"position":3},"title":"Dunearn Court sold to Roxy-Pacific for $36.3m","date":"October 23, 2017","format":false,"excerpt":"\r Each owner will receive about $2.91 million to $3.12 million from the sale. (Photo: Knight Frank) The en bloc market continues to roll with the sale of Dunearn Court to RH Central, a subsidiary of Roxy-Pacific Holdings, for $36.3 million. This is slightly lower than the guide price of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101566,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-condo-showflats-to-visit-this-weekend\/","url_meta":{"origin":72291,"position":4},"title":"5 condo showflats to visit this weekend","date":"November 23, 2018","format":false,"excerpt":"\r A crowd of potential buyers checking out Parc Esta\u2019s showflat. (Photo: MCL Land) Thinking of buying a new home soon?\u00a0 Well, to help you with your house hunting, we have come up with a list of recently opened condo showflats that you can visit this weekend. 1. Parc Esta\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118463,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/queen-astrid-gardens-up-for-en-bloc-sale-owners-expect-126-8mil-for-gcba-site\/","url_meta":{"origin":72291,"position":5},"title":"Queen Astrid Gardens up for en bloc sale, owners expect $126.8mil for GCBA site","date":"September 3, 2020","format":false,"excerpt":"\r 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\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\/72291"}],"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=72291"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/72291\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=72291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=72291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=72291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}