{"id":86132,"date":"2018-04-23T09:02:47","date_gmt":"2018-04-23T02:02:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-gardens-sold-to-el-development-for-468m\/"},"modified":"2018-04-23T09:03:42","modified_gmt":"2018-04-23T02:03:42","slug":"dunearn-gardens-sold-to-el-development-for-468m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-gardens-sold-to-el-development-for-468m\/","title":{"rendered":"Dunearn Gardens sold to EL Development for $468m"},"content":{"rendered":"


\nThe purchase price is lower than the reserve price of $488.8 million. (Photo: Knight Frank)
\nDunearn Gardens, a freehold condominium located off Newton Road, has been sold collectively to a wholly-owned subsidiary of EL Development for $468 million following its third en bloc attempt, marketing agent Knight Frank said on Monday (23 Apr).\u00a0
\nThe purchase price is lower than the reserve price of $488.8 million.
\nMore: Dunearn Gardens Up For En Bloc Sale
\nIncluding a development charge of about $43.6 million to redevelop the site to a gross plot ratio (GPR) of 2.8 based on the maximum gross floor area of approximately 267,239 sq ft, the land rate stands at $1,914 psf per plot ratio (psf ppr).
\nWith the inclusion of a 10 percent bonus balcony space and a proposed GPR of 3.08, the land rate works out to $1,841 psf ppr, subject to the authorities\u2019 approval.
\nEach owner could walk away with between $2.69 million and $7.98 million from the successful sale.
\nWith a site area of approximately 95,442 sq ft, Dunearn Gardens is located close to Newton MRT interchange and various established schools. Completed in 1992, it comprises 114 units.
\nEL Development plans to redevelop the site into a 34-storey luxury condominium comprising 348 one- to four-bedroom units.
\n\u201cThe new high-rise development will enjoy unobstructed views towards the city. We believe the new development will appeal to owner-occupiers and investors given its choice location right at the city fringe,\u201d said Ian Loh, executive director and head of investment and capital markets at Knight Frank Singapore.
\nKnight Frank is also set to launch Kemaman Point for collective sale in early May. Completed in 1993, the freehold condo in Balestier comprises 89 units.
\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…Dunearn Gardens sold to EL Development for 8m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The purchase price is lower than the reserve price of $488.8 million. (Photo: Knight Frank)...<\/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-86132","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-mpe","jetpack-related-posts":[{"id":76810,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-gardens-up-for-en-bloc-sale\/","url_meta":{"origin":86132,"position":0},"title":"Dunearn Gardens up for en bloc sale","date":"January 16, 2018","format":false,"excerpt":"\r The freehold site is located close to Newton MRT station. (Photo: Knight Frank) Dunearn Gardens, a freehold high-rise residential redevelopment site off Newton Road, has been put up for en bloc sale, with the owners expecting offers above their reserve price of $488.8 million, revealed marketing agent Knight Frank\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61948,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-court-put-up-for-en-bloc-sale\/","url_meta":{"origin":86132,"position":1},"title":"Dunearn Court put up for en bloc sale","date":"July 27, 2017","format":false,"excerpt":"\r The guide price for the freehold site is $38.8 million, or about $1,443 psf per plot ratio. (Photo: Knight Frank) A 12-unit apartment complex along Dunearn Road in District 11 is the latest in a string of residential properties to attempt a collective sale. The freehold Dunearn Court sits\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mayfair-gardens-up-for-en-bloc-sale-at-265m\/","url_meta":{"origin":86132,"position":2},"title":"Mayfair Gardens up for en bloc sale at $265m","date":"October 23, 2017","format":false,"excerpt":"\r The asking price works out to a land rate of around $1,058 psf per plot ratio. (Photo: Knight Frank) Mayfair Gardens off Dunearn Road has been launched for collective sale, with the owners expecting offers above the reserve price of $265 million, according to marketing agent Knight Frank. Built\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69798,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-court-sold-to-roxy-pacific-for-36-3m\/","url_meta":{"origin":86132,"position":3},"title":"Dunearn Court sold to Roxy-Pacific for $36.3m","date":"October 23, 2017","format":false,"excerpt":"\r Each owner will receive about $2.91 million to $3.12 million from the sale. (Photo: Knight Frank) The en bloc market continues to roll with the sale of Dunearn Court to RH Central, a subsidiary of Roxy-Pacific Holdings, for $36.3 million. This is slightly lower than the guide price of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109476,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/watten-estate-condominium-up-for-en-bloc-sale-for-536m\/","url_meta":{"origin":86132,"position":4},"title":"Watten Estate Condominium up for en bloc sale for $536m","date":"July 30, 2019","format":false,"excerpt":"\r Located at Shelford Road, the condominium is nestled on a sprawling 220,234 sq ft site, which is zoned residential with a gross plot ratio of 1.4 and a total allowable gross floor area of 308,341 sq ft.\u00a0After factoring in the additional buyer\u2019s stamp duty, the development is \u201cattractively priced\u201d\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101802,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/beauty-world-plaza-up-for-sale-at-165m\/","url_meta":{"origin":86132,"position":5},"title":"Beauty World Plaza up for sale at $165m","date":"November 29, 2018","format":false,"excerpt":"\r Located right next to Beauty World MRT station, the asking price of the development works out to $2,189 psf ppr. (Photo: Knight Frank) Two redevelopment sites \u2013 Beauty World Plaza and 409-419 Upper East Coast Road \u2013 have been launched for sale by tender, revealed marketing agent Knight Frank\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\/86132"}],"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=86132"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86132\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=86132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=86132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=86132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}