Balestier Kingsley Mansion Condo Launch En Bloc Sale

//Balestier Kingsley Mansion Condo Launch En Bloc Sale
Balestier Kingsley Mansion Condo Launch En Bloc Sale at $45.5m

Balestier Kingsley Mansion Condo Launch En Bloc Sale at $45.5m

The owners of Balestier Condo Kingsley Mansion, the 18-unit development have launched for en bloc sale on August 14 setting $45.5 million as the reserve price.

According to the asking price the land rate would translate to $1,132 psf ppr for the 14,350 sq ft freehold property.

There is no development charges payable on this site which has 2.8 plot ratio with maximum permissible GFA of nearly 40,180 sq ft.

Taking into consideration the 10% balcony area the land rate would falls to $1,086 psf ppr but in this case development charge of $2.5 million is payable for the site.

The site won’t require any pre-application feasibility study.

District 12 has seen 2 en bloc sites sold recently with Ampas Apartments pick up by Oxley Holdings in March for S$95 million and Kemaman Point En Bloc sold for $143.88 million in June.

Upon redevelopment the site could be turned into a 36-storeys structure and yield 53 apartment units with 753 sq ft average side according to Century 21 who have been hired as the marketing agents for this sale.

The site is located in the close vicinity of Novena Precinct. It is located near Toa Payoh MRT Station and is short distance from educational institutions such as Curtin University of Technology and East Asia Institute of Management.

If the site finds a buyer, the owners would receive between $2.36 million between $2.57 million for their units.

The tender for Kingsley Mansion shall close on 13th of September at 3:00 PM

 Kingsley Mansion En Bloc Details

Marketing Agent: Century 21

Tenure: Freehold

Status: For Sale

Reserve Price: S$45.5 million

Tender Close:  Sept 13

Land Size Sq.Ft.: 14,350 

Total Units: 18

Plot Ratio: 2.8

Zone: District 12

En Bloc 2018
En Bloc List
En bloc Process
En Bloc Sales Database
En Bloc 2017
PropNex En Bloc Services
City Gate Singapore
2018-08-15T13:40:40+00:00August 15th, 2018|2018|