{"id":95087,"date":"2018-07-31T10:23:47","date_gmt":"2018-07-31T03:23:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-fragrant-gardens-up-for-collective-sale\/"},"modified":"2018-07-31T17:02:55","modified_gmt":"2018-07-31T10:02:55","slug":"freehold-condo-fragrant-gardens-up-for-collective-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-fragrant-gardens-up-for-collective-sale\/","title":{"rendered":"Freehold condo Fragrant Gardens up for collective sale"},"content":{"rendered":"


\nThe low-rise condominium located off Paya Lebar Road has a reserve price of $65 million. (Photo: Knight Frank)
\nFragrant Gardens, a low-rise residential development located off Upper Paya Lebar Road has been put up for en bloc sale with a reserve price of $65 million, revealed marketing agent Knight Frank Singapore.
\nWith no development charge payable, this works out to a land rate of about $1,204 psf per plot ratio (psf ppr). Including a 10 percent bonus balcony gross floor area (GFA), the land rate is a lower $1,094 psf ppr, subject to approval of the relevant authorities.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nFragrant Gardens comprises two adjoining blocks with 37 apartment units. It sits on a 38,576 sq ft site zoned residential under the 2014 Master Plan with a gross plot ratio of 1.4 and a maximum permissible GFA of around 54,005 sq ft. This means the site can be redeveloped into 71 new apartment units averaging about 753 sq ft each.
\nKnight Frank noted that the Land Transport Authority has confirmed that no pre-application feasibility study is required for the site.
\nJust two bus stops away from Serangoon MRT station and NEX Mall, the freehold condo is a short drive to Changi Airport, the central business district and Orchard Road. Nearby schools include Maris Stella High School as well as Paya Lebar Methodist Girls\u2019 Primary and Secondary Schools.
\n\u201cThe reserve price for Fragrant Gardens is very competitive compared to the transaction of Sun Rosier at $1,325 psf ppr ($271 million),\u201d said Knight Frank Singapore executive director and head of investment and capital markets Ian Loh.
\n\u201cDespite recent government cooling measures, the price quantum of $65 million is a palatable, low-risk acquisition to mid-sized developers. Coupled with no possible risk of development charge movements, we believe the site could attract developers with lower risk appetites looking for redevelopment opportunities.\u201d
\nThe tender for Fragrant Gardens closes on 4 September.
\nHome 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…Freehold condo Fragrant Gardens up for collective sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The low-rise condominium located off Paya Lebar Road has a reserve price of $65 million....<\/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-95087","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-oJF","jetpack-related-posts":[{"id":113445,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/green-court-up-for-en-bloc-sale-with-28m-reserve-price\/","url_meta":{"origin":95087,"position":0},"title":"Green Court up for en bloc sale, with $28m reserve price","date":"January 7, 2020","format":false,"excerpt":"\r The three-storey commercial and residential development comprises three ground floor shops as well as six two-storey walk-up apartments on the second level. Green Court, a freehold mixed-use development situated along Geylang Road, is up for en bloc sale. The owners are expecting offers above their $28 million reserve price,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76810,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-gardens-up-for-en-bloc-sale\/","url_meta":{"origin":95087,"position":1},"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. 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Source: Google Maps Baode Building at 8 Lorong 35 Geylang is up again for collective\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/BAODE-BUILDING.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":120521,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/geylang-development-up-for-collective-sale-for-27mil\/","url_meta":{"origin":95087,"position":3},"title":"Geylang development up for collective sale for $27mil","date":"July 14, 2021","format":false,"excerpt":"\r Located at 8 Lorong 35 Geylang, the eight-storey Baode Building is a residential development\u00a0that is going for $27 million. Source: Google Maps Baode Building, an eight-storey residential development at 8 Lorong 35 Geylang, has been put up for collective sale with an indicative price of $27 million, revealed Colliers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/BAODE-BUILDING.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":69748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mayfair-gardens-up-for-en-bloc-sale-at-265m\/","url_meta":{"origin":95087,"position":4},"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":86132,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-gardens-sold-to-el-development-for-468m\/","url_meta":{"origin":95087,"position":5},"title":"Dunearn Gardens sold to EL Development for $468m","date":"April 23, 2018","format":false,"excerpt":"\r The purchase price is lower than the reserve price of $488.8 million. 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