{"id":80330,"date":"2018-02-19T10:29:57","date_gmt":"2018-02-19T03:29:57","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/brookvale-park-sold-en-bloc-for-530m\/"},"modified":"2018-02-19T11:05:16","modified_gmt":"2018-02-19T04:05:16","slug":"brookvale-park-sold-en-bloc-for-530m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/brookvale-park-sold-en-bloc-for-530m\/","title":{"rendered":"Brookvale Park sold en bloc for $530m"},"content":{"rendered":"


\nAerial view of Brookvale Park in Sunset Way. (Photo: JLL)
\nThe 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.
\nIncluding an estimated development charge of around $26 million, the sale price translates to a land rate of about $932 psf per plot ratio.
\nSEE ALSO: Jervois Green sold for $52.9mil, Brookvale Park up for en bloc sale
\nJLL regional director Tan Hong Boon said the owners could expect to receive gross sales proceeds of between $2.5 million to $4.4 million per unit.
\n\u201cThis is the largest investment in our 11 years of partnership with Sunway Group,\u201d noted Hoi Hup Realty chairman Wong Swee Chun.
\n\u201cThe sprawling 999-year leasehold land is in a centralised but yet lush and green location and setting. We believe this provides a great opportunity to create a unique residential product.\u201d
\nLocated in the Sunset Way enclave designated for two-storey bungalows and private residential developments, the site is zoned for residential use under the 2014 Master Plan with a gross plot ratio of 1.6.
\nThis means that the site could be redeveloped into a condominium development with a total gross floor area of about 656,494 sq ft, including a 10 percent bonus balcony area.
\nIt is also a short drive away from Bukit Timah Nature Reserve, Holland Village and near to reputable tertiary and international schools, such as Singapore Polytechnic, Ngee Ann Polytechnic, Singapore University of Social Sciences, National University of Singapore and the Canadian International School.
\n\u201cThe sale of Brookvale Park brings the tally of successful en bloc sales to $3.17 billion, arising from nine deals over the last seven weeks of this year. The tally for the entire 2017 was $8.78 billion from 32 deals,\u201d said JLL senior consultant Karamjit Singh.
\n\u201cOur view is that the market is on track for last year\u2019s tally to be surpassed by middle of 2018, as the strong momentum driven by the positive outlook of the residential market sustains.\u201d
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Brookvale Park sold en bloc for 0m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of Brookvale Park in Sunset Way. (Photo: JLL) The 160-unit development Brookvale Park...<\/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-80330","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-kTE","jetpack-related-posts":[{"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":80330,"position":0},"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":121961,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/flynn-park-sold-en-bloc-for-371mil\/","url_meta":{"origin":80330,"position":1},"title":"Flynn Park sold en bloc for $371mil","date":"September 13, 2021","format":false,"excerpt":"\r Flynn Park sold en bloc for $371milThe deal marked the largest collective sale site sold this year. Photo: Savills Singapore Flynn Park at 18-22 Yew Siang Road has been sold via en bloc sale for $371 million to a joint venture between Hoi Hup Realty and Sunway Developments. 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Photo: Hoi Hup Sunway Parc Canberra, a 496-unit executive condominium (EC) project along Canberra Link, opened its sales gallery on 31 January, with average unit price pegged at about $1,080 per square foot\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114323,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/parc-canberra-sold-316-units-over-launch-weekend\/","url_meta":{"origin":80330,"position":4},"title":"Parc Canberra sold 316 units over launch weekend","date":"February 17, 2020","format":false,"excerpt":"\r The Hoi Hup Sunway project sold 64% of its total available units.\u00a0 Executive condominium Parc Canberra received robust interest during its sales launch over the weekend, with 64% or 316 out of its 496 total units sold. 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