{"id":74512,"date":"2017-12-14T09:49:24","date_gmt":"2017-12-14T02:49:24","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/parkway-mansion-sold-for-146-99mil-to-sustained-land-led-consortium\/"},"modified":"2017-12-14T10:09:52","modified_gmt":"2017-12-14T03:09:52","slug":"parkway-mansion-sold-for-146-99mil-to-sustained-land-led-consortium","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/parkway-mansion-sold-for-146-99mil-to-sustained-land-led-consortium\/","title":{"rendered":"Parkway Mansion sold for $146.99mil to Sustained Land-led consortium"},"content":{"rendered":"


\nAfter 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.
\nColliers International revealed that the sale price was 6.5 percent higher than the owners\u2019 guide price of $138 million during the tender launched on 16 November.
\nThe sale price and development charge of around $120 million works out to a land rate of $1,536 psf per plot ratio (ppr).
\nThe land rate for the prime freehold development at 9 Amber Road far surpassed prices achieved in recent collective sales within the area \u2013 The Albracca (S$1,409 psf ppr), Nanak Mansions (S$1,429 psf ppr) in Meyer Road and Amber Park (S$1,515 psf ppr).
\nSituated just 100 metres from the upcoming Tanjong Katong MRT station at the Thomson-East Coast Line, Parkway Mansion is a 17-storey development with apartment units measuring between 169 sq m and 181 sq m.
\nUpon completion of the sale, each owner will stand to gain between $4.5 million and $4.7 million in gross proceeds depending on the size of their units.
\nThe 3,620.9 sq m site is zoned for residential use with a gross plot ratio of 2.8 under the 214 Master Plan. It has a potential total gross floor area of 10,138.5 sq m.
\nThe site could yield 130 residential units with an average size of 800 sq ft, subject to Urban Redevelopment Authority\u2019s approval.
\n\u201cPotential selling price of units at the future development could range from S$2,550 psf to S$2,600 psf. The site is not subject to the Pre-Application Feasibility Study,\u201d said Colliers.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Parkway Mansion sold for 6.99mil to Sustained Land-led consortium<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

After two failed attempts at a collective sale, Parkway Mansion has finally been sold to...<\/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-74512","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-jnO","jetpack-related-posts":[{"id":71967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-condos-up-for-en-bloc-sale\/","url_meta":{"origin":74512,"position":0},"title":"Four condos up for en bloc sale","date":"November 16, 2017","format":false,"excerpt":"\r Derby Court is a freehold condominium development located at 5, Derbyshire Road in District 11 near Novena MRT station. (Photo: JLL) Four residential developments, including the iconic Pearlbank Apartments in Outram, have been put up in separate tenders for en bloc sale. The others are Parkway Mansion in Katong,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83363,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/olina-lodge-verdun-house-launched-for-collective-sale\/","url_meta":{"origin":74512,"position":1},"title":"Olina Lodge, Verdun House launched for collective sale","date":"March 22, 2018","format":false,"excerpt":"\r Completed in 1990, the freehold Olina Lodge has a reserve price of $220 million. (Photo: SRI) The collective sales fever continues to heat up with the recent launch of two freehold developments \u2013 Olina Lodge and Verdun House, revealed marketing agent Singapore Realtors Inc (SRI). Located at 15 Holland\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83073,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pacific-mansion-sold-for-980m-in-second-largest-ever-collective-sale\/","url_meta":{"origin":74512,"position":2},"title":"Pacific Mansion sold for $980m in second-largest ever collective sale","date":"March 19, 2018","format":false,"excerpt":"\r Completed in 1976, Pacific Mansion in River Valley comprises 288 apartments and two commercial units. (Photo: CBRE) The freehold Pacific Mansion in prime District 9 has been sold collectively to a consortium comprising GuocoLand (Singapore), Intrepid Investments and Hong Realty for a whopping $980 million, marketing agent CBRE said\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68320,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/normanton-park-sold-for-830-1m-or-969-psf-ppr\/","url_meta":{"origin":74512,"position":3},"title":"Normanton Park sold for $830.1m, or $969 psf ppr","date":"October 6, 2017","format":false,"excerpt":"\r This is the highest land rate achieved for a 99-year leasehold collective sale site this year. (Photo: Knight Frank) The Normanton Park condominium located off Ayer Rajah Expressway has been sold collectively to Kingsford Huray Development for $830.1 million, marketing agent Knight Frank said on Thursday (5 October). It\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":74512,"position":4},"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. 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