{"id":84640,"date":"2018-04-05T10:52:01","date_gmt":"2018-04-05T03:52:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/perennial-and-qingjian-to-jointly-redevelop-goodluck-garden\/"},"modified":"2018-04-06T12:03:08","modified_gmt":"2018-04-06T05:03:08","slug":"perennial-and-qingjian-to-jointly-redevelop-goodluck-garden","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/perennial-and-qingjian-to-jointly-redevelop-goodluck-garden\/","title":{"rendered":"Perennial and Qingjian to jointly redevelop Goodluck Garden"},"content":{"rendered":"


\nThe freehold site off Upper Bukit Timah is close to Beauty World MRT station. (Photo: Knight Frank)
\nPerennial 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 Perennial\u2019s maiden foray into purely residential development.
\nThe 210-unit condominium was sold collectively for $610 million in March. Completed in 1984, it is close to Beauty World MRT station, shopping malls and the upcoming Jurong Lake District.
\nMore: Goodluck Garden Sold To Qingjian For $610m
\nWith a land area of approximately 360,130 sq ft, the freehold site is zoned residential under the 2014 Master Plan with a gross plot ratio of 1.4. It has a maximum permissible gross floor area (GFA) of about 504,182 sq ft.
\nIn an SGX filing on Wednesday (4 Apr), Perennial noted that the acquisition price works out to a land rate of about $1,210 psf per plot ratio (psf ppr).
\nGiven the site\u2019s high development baseline, no development charge is payable for the additional 10 percent bonus balcony GFA, hence, the land price works out to a lower $1,100 psf ppr.
\n\u201cWe are pleased to collaborate with Qingjian Group, one of the leading developers in Singapore with a strong track record in residential real estate, construction and lifestyle smart home applications,\u201d said Perennial CEO Pua Seck Guan.
\nHe added that the relatively large site with \u201cexcellent transport connectivity in prime District 21 provides significant room for the creation of a development with comprehensive offerings and long term investment value\u201d.
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Perennial and Qingjian to jointly redevelop Goodluck Garden<\/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-84640","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-m1a","jetpack-related-posts":[{"id":84564,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/perennial-and-qingjian-to-jointly-develop-goodluck-garden\/","url_meta":{"origin":84640,"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":82336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goodluck-garden-sold-to-qingjian-for-610m\/","url_meta":{"origin":84640,"position":1},"title":"Goodluck Garden sold to Qingjian for $610m","date":"March 9, 2018","format":false,"excerpt":"\r The freehold site off Upper Bukit Timah is close to Beauty World MRT station. (Photo: Knight Frank) Goodluck 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\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":84640,"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":118584,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-third-of-forett-at-bukit-timah-sold-since-launch\/","url_meta":{"origin":84640,"position":3},"title":"One-third of Forett at Bukit Timah sold since launch","date":"September 8, 2020","format":false,"excerpt":"\r Forett at Bukit Timah has sold 212 units in a month.\u00a0 The 633-unit Forett at Bukit Timah has continued to attract keen interest from homebuyers, selling 212 units (as of 31 August 2020) \u2013 or one-third of the total \u2013 since the project\u2019s launch on 8 August. In a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118060,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/forett-at-bukit-timah-to-be-launched-for-sales-this-saturday\/","url_meta":{"origin":84640,"position":4},"title":"Forett At Bukit Timah to be launched for sales this Saturday","date":"August 3, 2020","format":false,"excerpt":"\r The balloting and booking process will be conducted online via teleconference on the Forett At Bukit Timah Facebook page. Photo: Qingjian Realty Forett at Bukit Timah, a 633-unit condominium project along Toh Tuck Road in District 21, will be launched for sales on 8 August (Saturday). To ensure the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31788,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/upper-bukit-timah-shophouses-on-sale-for-20-million\/","url_meta":{"origin":84640,"position":5},"title":"Upper Bukit Timah shophouses on sale for $20 million","date":"October 27, 2016","format":false,"excerpt":"\r The guide price works out to $718 psf per plot ratio on the floor area. (Photo: CBRE) A cluster of five adjoining shophouses along 824-836 Upper Bukit Timah Road have been put up for sale by public tender, said marketing agent CBRE. The guide price for the row of\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\/84640"}],"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=84640"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/84640\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=84640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=84640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=84640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}