{"id":89680,"date":"2018-05-28T09:48:27","date_gmt":"2018-05-28T02:48:27","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/leonie-gardens-in-district-9-up-for-sale-at-800m\/"},"modified":"2018-05-28T10:02:50","modified_gmt":"2018-05-28T03:02:50","slug":"leonie-gardens-in-district-9-up-for-sale-at-800m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/leonie-gardens-in-district-9-up-for-sale-at-800m\/","title":{"rendered":"Leonie Gardens in District 9 up for sale at $800m"},"content":{"rendered":"


\nLeonie Gardens is located close to the Orchard and Somerset MRT stations, as well as the upcoming Great World station in River Valley Road.
\nLeonie Gardens, a 138-unit condominium in prime District 9, was launched for collective sale on Saturday (26 May) with a reserve price of $800 million, according to marketing agent Huttons Asia.
\nThis translates to $2,104 psf based on the property\u2019s existing gross floor area (GFA) of 410,431.80 sq ft, or a lower $2,021 psf if the 10 percent bonus balcony space is taken into account to increase its GFA to 449,031.63 sq ft, subject to approval.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nThe 145,789.49 sq ft residential site has a plot ratio of 2.8 under the 2014 Master Plan. No development charge is payable as the existing baseline (2.8152) is above the aforementioned plot ratio. But if the bonus balcony space is factored in, the buyer will need to fork out a development charge of around $44 million.
\nThe winning bidder also needs to pay a differential premium of about $63 million to top-up the site\u2019s leasehold tenure to a full 99 years given its remaining term of 71 years.
\nThe existing project can be redeveloped into a new condominium of about 380 units averaging about 1,076 sq ft, or 544 units averaging around 753 sq ft.
\nSituated at Leonie Hill, the site is a short distance from the Orchard and Somerset MRT stations, as well as the upcoming Great World station in River Valley Road.
\nThe tender exercise for Leonie Gardens will close on 21 June.
\nLearn more about the Orchard\/River Valley area and\u00a0search for properties to buy or rent.\u00a0
\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…Leonie Gardens in District 9 up for sale at 0m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Leonie Gardens is located close to the Orchard and Somerset MRT stations, as well as...<\/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-89680","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-nks","jetpack-related-posts":[{"id":102684,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cavenagh-gardens-up-for-en-bloc-sale-at-480m\/","url_meta":{"origin":89680,"position":0},"title":"Cavenagh Gardens up for en bloc sale at $480m","date":"January 4, 2019","format":false,"excerpt":"\r The reserve price for the freehold development in District 9 works out to a land rate of $1,695 psf ppr. 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