{"id":85660,"date":"2018-04-17T16:39:41","date_gmt":"2018-04-17T09:39:41","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/asia-gardens-in-everton-road-sold-en-bloc-for-343m\/"},"modified":"2018-04-17T17:02:58","modified_gmt":"2018-04-17T10:02:58","slug":"asia-gardens-in-everton-road-sold-en-bloc-for-343m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/asia-gardens-in-everton-road-sold-en-bloc-for-343m\/","title":{"rendered":"Asia Gardens in Everton Road sold en bloc for $343m"},"content":{"rendered":"


\nThe purchase price is higher than the asking price of $338 million. (Photo: Edmund Tie & Co)
\nAsia Gardens along Everton Road in the Spottiswoode area has been sold en bloc for $343 million to a consortium comprising Sustained Land, Ho Lee Group and other partners, revealed marketing agent Edmund Tie & Co on Tuesday (17 Apr).
\nThe purchase price is higher than the asking price of $338 million.
\nMore: Faber Garden Up For En Bloc Sale With $1.18b Reserve Price
\nCompleted in the late 1980s, the freehold 23-storey development comprises 80 apartment units and four penthouses.
\nThere is no development charge payable due to the high development baseline, hence, the sale price works out to a land rate of $1,565 psf per plot ratio, including the 10 percent bonus balcony area.
\nThe owners are expected to receive between $3.476 million and $7.73 million per unit.
\nThe 72,059 sq ft site could be redeveloped into a 36-storey condominium with about 264 units, subject to authorities\u2019 approvals.
\nThe Central Business District is located at the doorstep of the site, while the nearby Everton Park, Tanjong Pagar and Bukit Pasoh precincts offer a range of amenities and lifestyle options.
\n\u201cAsia Gardens represents probably the last freehold residential redevelopment site in the precinct,\u201d said ET&Co senior director of investment advisory Swee Shou Fern.
\n\u201cIt is ideally oriented with north-south facing and units in the new development will be able to enjoy unobstructed panoramic views of the city skyline and sea beyond the Tanjong Pagar port area.\u201d
\nIn December 2017, a consortium led by Sustained Land purchased Parkway Mansion at Amber Road for $146.99 million.
\nThe Albracca in Meyer Road was also sold to Sustained Land for $69.119 million in July of that same year.
\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, 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…Asia Gardens in Everton Road sold en bloc for 3m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The purchase price is higher than the asking price of $338 million. (Photo: Edmund Tie...<\/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-85660","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-mhC","jetpack-related-posts":[{"id":82192,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-fever-hits-asia-gardens-novena-site-up-for-sale\/","url_meta":{"origin":85660,"position":0},"title":"En bloc fever hits Asia Gardens, Novena site up for sale","date":"March 8, 2018","format":false,"excerpt":"\r \u00a0 Asia Gardens, a freehold residential site in the exclusive Spottiswoode enclave, has been put up for collective sale for $338 million on Wednesday (7 March), according to sole marketing agent Edmund Tie & Company. Given the plot\u2019s area of 72,059 sq ft, the asking price translates to a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88041,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/peak-court-sold-en-bloc-for-118-88m\/","url_meta":{"origin":85660,"position":1},"title":"Peak Court sold en bloc for $118.88m","date":"May 14, 2018","format":false,"excerpt":"\r The purchase price is higher than the asking price of $106 million. (Photo: ET&Co) Peak Court, a four-storey residential project at Thomson Road, has been sold via collective sale for $118.88 million, higher than the asking price of $106 million, marketing agent Edmund Tie & Company (ET&Co) said on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73625,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-projects-sold-en-bloc-for-over-658mil\/","url_meta":{"origin":85660,"position":2},"title":"2 projects sold en bloc for over $658mil","date":"December 4, 2017","format":false,"excerpt":"\r Royalville attracted a total of nine bids which surpassed the $368m asking price. (Photo: Edmund Tie & Co) Marketing agent Edmund Tie & Co announced on Friday (1 December) that it successfully sold two existing developments via collective sale for a total of $658.59 million. In particular, Royalville in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/12\/Crystal-Tower-e1512356063925.jpg?fit=620%2C310&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":88823,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinatown-plaza-sold-en-bloc-for-260-million\/","url_meta":{"origin":85660,"position":3},"title":"Chinatown Plaza sold en bloc for $260 million","date":"May 21, 2018","format":false,"excerpt":"\r The purchase price is lower than the $270 million asking price, and works out to a land rate of $1,915 psf per plot ratio. (Photo: ET&Co) Chinatown Plaza along Craig Road in District 2 has been sold for $260 million to a property unit affiliated with Singapore-based Royal Golden\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70106,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/crystal-tower-relaunched-for-collective-sale-at-lower-price\/","url_meta":{"origin":85660,"position":4},"title":"Crystal Tower relaunched for collective sale at lower price","date":"October 26, 2017","format":false,"excerpt":"\r Built in the 1970s, the 28-unit Crystal Tower is now going for $138 million. (Photo: Edmund Tie) Crystal Tower, a freehold residential site at Ewe Boon Road, has been put up for en bloc sale again at $138 million, marketing agent Edmund Tie & Co. said on Thursday (26\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85780,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/choon-kim-house-in-upper-serangoon-up-for-en-bloc-sale-with-over-55m-guide-price\/","url_meta":{"origin":85660,"position":5},"title":"Choon Kim House in Upper Serangoon up for en bloc sale with over $55m guide price","date":"April 18, 2018","format":false,"excerpt":"\r Completed in the early 2000\u2019s, the four-storey mixed-use building comprises 20 commercial units and 10 apartments. (Photo: JLL) The freehold Choon Kim House along Upper Serangoon Road has been launched for collective sale at an indicative price of over $55 million, marketing agent JLL said on Wednesday (18 Apr).\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\/85660"}],"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=85660"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/85660\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=85660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=85660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=85660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}