{"id":82336,"date":"2018-03-09T22:00:16","date_gmt":"2018-03-09T15:00:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/goodluck-garden-sold-to-qingjian-for-610m\/"},"modified":"2018-03-10T00:02:55","modified_gmt":"2018-03-09T17:02:55","slug":"goodluck-garden-sold-to-qingjian-for-610m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goodluck-garden-sold-to-qingjian-for-610m\/","title":{"rendered":"Goodluck Garden sold to Qingjian for $610m"},"content":{"rendered":"


\nThe freehold site off Upper Bukit Timah is close to Beauty World MRT station. (Photo: Knight Frank)
\nGoodluck Garden, a 210-unit freehold condominium along Toh Tuck Road, has been sold through a collective sale to Chinese developer Qingjian Group for $610 million, which is about 10 percent above the $550 million reserve price.
\nThe approximately 360,130 sq ft site comprises eight blocks of 208 apartments and two commercial shops. Apartment sizes range from 1,023 sq ft to 1,959 sq ft, and the shops measure 323 sq ft and 980 sq ft respectively.
\nThe sale price translates to a land rate of approximately $1,210 psf per plot ratio (psf ppr) based on a potential gross floor area of 504,182 sq ft. Since there is no development charge payable for the 10 percent bonus balcony space, the land price works out to a lower $1,100 psf ppr.
\nSubject to several conditions, each owner could receive between $924,000 and $3.51 million if the sale goes through.
\nCompleted in 1984, the development off Upper Bukit Timah is close to Beauty World MRT station and various schools.\u00a0\u00a0
\n\u201cWith the site not subjected to the rising development charge rates, the site attracted strong competitive bids,\u201d said Ian Loh, executive director and head of investment and capital markets at Knight Frank which brokered the deal.
\nLim Hun Joo, chairman of the collective sale committee, said: \u201cWe have been fortunate to be able to catch the collective sale wave and launched the project for sale at the right time.\u201d
\nKnight Frank also recently launched Windy Heights in Kembangan for en bloc sale at a reserve price of $806.2 million.
\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…Goodluck Garden sold to Qingjian for 0m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The freehold site off Upper Bukit Timah is close to Beauty World MRT station. (Photo:...<\/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-82336","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-lq0","jetpack-related-posts":[{"id":84564,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/perennial-and-qingjian-to-jointly-develop-goodluck-garden\/","url_meta":{"origin":82336,"position":0},"title":"Perennial and Qingjian to jointly develop Goodluck Garden","date":"April 5, 2018","format":false,"excerpt":"\r The freehold site off Upper Bukit Timah is close to Beauty World MRT station. (Photo: Knight Frank) Perennial Real Estate Holdings has formed a 40-60 joint venture with China-based Qingjian Group to jointly develop the Goodluck Garden residential site at Toh Tuck Road off Upper Bukit Timah. This marks\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84640,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/perennial-and-qingjian-to-jointly-redevelop-goodluck-garden\/","url_meta":{"origin":82336,"position":1},"title":"Perennial and Qingjian to jointly redevelop Goodluck Garden","date":"April 5, 2018","format":false,"excerpt":"\r The freehold site off Upper Bukit Timah is close to Beauty World MRT station. (Photo: Knight Frank) Perennial Real Estate Holdings has formed a 40-60 joint venture with China-based Qingjian Group to jointly redevelop the Goodluck Garden residential site at Toh Tuck Road off Upper Bukit Timah. This marks\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78035,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goodluck-garden-up-for-en-bloc-sale-owners-expect-offers-above-550mil\/","url_meta":{"origin":82336,"position":2},"title":"Goodluck Garden up for en bloc sale, owners expect offers above $550mil","date":"January 26, 2018","format":false,"excerpt":"\r Goodluck Garden, a freehold condominium site along Toh Tuck Road, has been put up for collective sale, with the owners expecting offers above their $550 million reserve price, revealed marketing agent Knight Frank Singapore. \u201cIncluding an additional estimated development charge of approximately $63.2 million (subject to verification and confirmation\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":82336,"position":3},"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":80679,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-sites-launched-for-sale-including-fairhaven-and-pomex-court\/","url_meta":{"origin":82336,"position":4},"title":"3 sites launched for sale, including Fairhaven and Pomex Court","date":"February 22, 2018","format":false,"excerpt":"\r The owners of Fairhaven (pictured) are expecting bids in excess of $45 million. (Photo: JLL) Three private residential sites have been put up for sale by different marketing agents for a total of more than $181 million. On Wednesday (21 February), a rare 9,999-year leasehold housing site in 1\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110315,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condominium-at-nassim-road-up-for-en-bloc-sale\/","url_meta":{"origin":82336,"position":5},"title":"Freehold condominium at Nassim Road up for en bloc sale","date":"August 29, 2019","format":false,"excerpt":"\r The four-storey condominium was completed in 2008, featuring two- and three-bedroom units as well as penthouses that range from 115 sq m to 343 sq m. The owners are asking for a reserve price of\u00a0$222.68 million or $3,508 per sq ft per plot ratio (psf ppr). Beaufort On Nassim,\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\/82336"}],"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=82336"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/82336\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=82336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=82336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=82336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}