{"id":73900,"date":"2017-12-07T10:05:32","date_gmt":"2017-12-07T03:05:32","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/jervois-green-sold-for-52-9mil-brookvale-park-up-for-en-bloc-sale\/"},"modified":"2017-12-07T10:10:43","modified_gmt":"2017-12-07T03:10:43","slug":"jervois-green-sold-for-52-9mil-brookvale-park-up-for-en-bloc-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jervois-green-sold-for-52-9mil-brookvale-park-up-for-en-bloc-sale\/","title":{"rendered":"Jervois Green sold for $52.9mil, Brookvale Park up for en bloc sale"},"content":{"rendered":"


\nSingapore\u2019s collective sale market continued to heat up with the sale of\u00a0 Jervois Green and the launch of Brookvale Park.
\nA 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 the oldest Chinese restaurants in Singapore.
\nThe sale price \u2013 which was 10 percent higher than the $48 million asking price of the owner \u2013 translates to a land rate of $1,601 psf per plot ratio (ppr) inclusive of a development charge of around $6.95 million, noted Colliers International, which brokered the deal.
\nWith a site area of around 26,700 sq ft, Jervois Green comprises eight apartments and was held under single-ownership. As such, the sale is not subject to the approval of the Strata Titles Board\/High Court.
\nThe site is zoned for residential use under the 2014 Master Plan with a plot ratio of 1.4. Not subject to the Pre-Application Feasibility Study, it can be redeveloped into a five-storey development comprising 42 units of around 850 sq ft each, subject to approval by the relevant authorities, said Colliers.
\n\u201cThe future selling price for the new development is envisaged to be above $2,500 psf or from $2.1 million per unit,\u201d it added.
\nClosing on 5 December, the tender for Jervois Green \u201cdrew strong interest with six bids received from a wide spectrum of investors and developers\u201d, said Tang Wei Leng, managing director at Colliers International.
\n\u201cThe tight bids not only reflect the market consensus on the pricing in the locale, but also signal the positive sentiment among bidders on the back of a comeback in the residential property market.\u201d
\nMeanwhile, Brookvale Park in the Sunset Way estate, off Clementi, has been put up for en bloc sale, with a minimum price of S$530 million, said marketing agent JLL.
\nComprising 160 units, Brookvale Park was built in the early 1980\u2019s on a 999-year leasehold site.
\nJLL said the 373,008 sq ft site may be \u201credeveloped into a residential development of up to 12 storeys, with a total gross floor area of about 656,494 sq ft, including a 10 percent bonus balcony area\u201d. The new development could yield 550 units with an average size of 1,100 sq ft.
\nInclusive of an estimated development charge of around $26 million, the minimum price works out to a land cost of $932 psf ppr, with the breakeven price at around $1,480 to $1,500 psf.
\n\u201cThis compares favourably with recent land sales in the vicinity, such as Royalville at $1,960 psf ppr, Mayfair Gardens at $1,244 psf ppr and the Government Land Sales sites at $939 and $1,540 psf ppr for Toh Tuck Road and Fourth Avenue respectively,\u201d added JLL.
\nThe tender for Brookvale Park will close on 25 January 2018.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Jervois Green sold for .9mil, Brookvale Park up for en bloc sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore\u2019s collective sale market continued to heat up with the sale of\u00a0 Jervois Green and...<\/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-73900","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-jdW","jetpack-related-posts":[{"id":80330,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/brookvale-park-sold-en-bloc-for-530m\/","url_meta":{"origin":73900,"position":0},"title":"Brookvale Park sold en bloc for $530m","date":"February 19, 2018","format":false,"excerpt":"\r Aerial view of Brookvale Park in Sunset Way. (Photo: JLL) The 160-unit development Brookvale Park has been sold to Hoi Hup Sunway \u2013 a joint venture between Hoi Hup Realty and Sunway \u2013 for $530 million, revealed marketing agent JLL. Including an estimated development charge of around $26 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122698,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jervois-mansion-sells-99-of-units-launched\/","url_meta":{"origin":73900,"position":1},"title":"Jervois Mansion sells 99% of units launched","date":"October 20, 2021","format":false,"excerpt":"\r 104 of the 105 units of the Jervois Mansion condominium project has been sold, with Singaporeans forming the majority of buyers. Source: Jervois Mansions Jervois Mansion, Kimen Group\u2019s condominium project in Jervois Close within the River Valley area, sold 99% or 104 of the 105 units launched, reported The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/jervois-mansions.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":64818,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/amber-park-and-jervois-gardens-launched-for-sale\/","url_meta":{"origin":73900,"position":2},"title":"Amber Park and Jervois Gardens launched for sale","date":"August 29, 2017","format":false,"excerpt":"\r View of Amber Park, which is expected to be redeveloped into a high-rise project with sea views. (Photo: JLL) The collective sales market continues to roll on with two freehold residential developments \u2013 Amber Park and Jervois Gardens \u2013 launched for tender. Located along Amber Road in Katong, Amber\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":73900,"position":3},"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":110693,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jervois-road-good-class-bungalow-for-sale-at-38-8m\/","url_meta":{"origin":73900,"position":4},"title":"Jervois Road Good Class Bungalow for sale at $38.8m","date":"September 12, 2019","format":false,"excerpt":"\r This District 10 property is situated within the Chatsworth Park Good Class Bungalow area. It is also within the embassy enclave, and is minutes from the central business district A good class bungalow (GCB) along Jervois Road has been put up for sale via tender, carrying a guide price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107511,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jervois-prive-opened-for-preview-at-early-bird-price-of-2816-psf\/","url_meta":{"origin":73900,"position":5},"title":"Jervois Priv\u00e9 opened for preview at early bird price of $2,816 psf","date":"May 27, 2019","format":false,"excerpt":"\r The luxury condominium is expected to be ready for occupancy in early 2023. Jervois Priv\u00e9, a 45-unit luxury condominium project at Tanglin, opened for preview last Saturday (25 May), with early bird prices starting from $2,816 per sq ft (psf). Located at 100A Jervois Road in prime District 10,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/05\/image009.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/73900"}],"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=73900"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/73900\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=73900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=73900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=73900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}