{"id":83073,"date":"2018-03-19T09:44:45","date_gmt":"2018-03-19T02:44:45","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/pacific-mansion-sold-for-980m-in-second-largest-ever-collective-sale\/"},"modified":"2018-03-19T10:04:36","modified_gmt":"2018-03-19T03:04:36","slug":"pacific-mansion-sold-for-980m-in-second-largest-ever-collective-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pacific-mansion-sold-for-980m-in-second-largest-ever-collective-sale\/","title":{"rendered":"Pacific Mansion sold for $980m in second-largest ever collective sale"},"content":{"rendered":"


\nCompleted in 1976, Pacific Mansion in River Valley comprises 288 apartments and two commercial units. (Photo: CBRE)
\nThe 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 on Monday (19 Mar).
\nThis marks the largest transaction in the current en bloc cycle, exceeding Tampines Court which was sold for $970 million and Amber Park ($907 million), and is only surpassed by the sale of Farrer Court for $1.338 billion more than a decade ago.
\nMore: Mandarin Gardens eyeing $2.5 billion collective sale
\nPacific Mansion\u2019s sale price is about four percent above the reserve price of $938 million, and works out to around $1,987 psf per plot ratio (psf ppr) based on the existing gross floor area (GFA) of 493,222 sq ft.
\nInclusive of the 10 percent bonus balconies GFA, the price works out to a lower $1,806 psf ppr. No development charge is payable.
\nLocated along River Valley Close, the sprawling 128,352 sq ft site is close to Orchard Road and the upcoming Great World City MRT station.
\nCompleted in 1976, the 290-unit development comprises 288 apartments and two commercial units. More than 80 percent of the owners consented to the collective sale.
\nEach homeowner could receive a gross payout of $3.26 million to $3.48 million, while the shop units could get between $2.2 million and $4.5 million.
\n\u201cThe tender drew keen interest from local and foreign developers,\u201d said Galven Tan, director, capital markets at CBRE.
\n\u201cWe look forward to an exciting iconic landmark to be developed on the site,\u201d he added.
\nCheck out our project reviews in District 9.
\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…Pacific Mansion sold for 0m in second-largest ever collective sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Completed in 1976, Pacific Mansion in River Valley comprises 288 apartments and two commercial units....<\/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-83073","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-lBT","jetpack-related-posts":[{"id":79190,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pacific-mansion-up-for-en-bloc-sale-for-938m\/","url_meta":{"origin":83073,"position":0},"title":"Pacific Mansion up for en bloc sale for $938m","date":"February 7, 2018","format":false,"excerpt":"\r The prime freehold site in District 9 is located next to the upcoming Great World MRT station. (Photo: CBRE) Pacific Mansion, a freehold residential development along River Valley Close, has been put up for collective sale at a reserve price of $938 million, or $1,728 psf per plot ratio\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85640,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/faber-garden-up-for-en-bloc-sale-with-1-18b-reserve-price\/","url_meta":{"origin":83073,"position":1},"title":"Faber Garden up for en bloc sale with $1.18b reserve price","date":"April 17, 2018","format":false,"excerpt":"\r Faber Garden could become the largest en bloc deal this year if the sale goes through. (Photo: CBRE) Faber Garden, a 236-unit freehold development at Angklong Lane off Upper Thomson Road, has been launched for en bloc sale with a reserve price of $1.18 billion, marketing agent CBRE said\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87283,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-investment-sales-to-hit-46-billion-in-2018\/","url_meta":{"origin":83073,"position":2},"title":"Property investment sales to hit $46 billion in 2018","date":"May 7, 2018","format":false,"excerpt":"\r \u00a0 Real estate investment sales in Singapore is expected to grow 15 percent year-on-year to $46 billion in 2018, and climb a further 5.0 to 10 percent in 2019, according to a Colliers International report. In the first quarter of 2018, total property investment sales surged 89 percent to\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":83073,"position":3},"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. Located at 95 & 97 Holland Road, The Estoril carries a guide price of $220 million, or around $1,625 psf\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85150,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tulip-garden-sold-for-906-9m-in-2018s-second-largest-collective-sale\/","url_meta":{"origin":83073,"position":4},"title":"Tulip Garden sold for $906.9m in 2018\u2019s second largest collective sale","date":"April 13, 2018","format":false,"excerpt":"\r Tulip Garden\u2019s purchase price is 20.4 percent higher than the reserve price of $753 million. (Photo: Colliers International) The Tulip Garden condominium at Farrer Road has made headlines for being the second biggest collective sale to date this year, following the $980 million en bloc sale of Pacific Mansion\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85154,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tulip-garden-sold-for-906-9m-in-second-largest-collective-sale-this-year\/","url_meta":{"origin":83073,"position":5},"title":"Tulip Garden sold for $906.9m in second largest collective sale this year","date":"April 13, 2018","format":false,"excerpt":"\r Tulip Garden\u2019s purchase price is 20.4 percent higher than the reserve price of $753 million. (Photo: Colliers International) The Tulip Garden condominium at Farrer Road has made headlines for being the second biggest collective sale to date this year, following the $980 million en bloc sale of Pacific Mansion\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\/83073"}],"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=83073"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/83073\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=83073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=83073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=83073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}