One of the Most Attractive Price offers in Prime District
Cavenagh Gardens is one of five residential properties JLL Singapore is currently marketing under collective sale tenders.
While owners of the five properties are collectively asking for S$1.2 billion, those of 43-yr old Cavenagh have set their reserve price at S$480 million, the highest asking price among the five.
The other sites JLL is trying to sell en bloc besides Cavenagh are Flynn Park, Rosalia Park, La Ville and some three detached houses at Lorong H. Telok Kurau that are being sold jointly.
At the Cavenagh Gardens’ reserve price, the land rate for this District 9 site calculates at S$1,640 per sq ft per plot ratio (psf ppr).
The Cavenagh Gardens freehold site measures 128,255 square feet in land size with a gross plot ratio of 2.1.
According to Tan Hong Boon, JLL’s regional director, the Cavenagh Gardens site, just like the other four, is expected to attract the attention of different kinds of developers; local and foreign.
Not only is the 13-storey property within a prime district, but it is also very near the busy Orchard Road. It is also under freehold ownership, which makes it even more attractive.
In prime District 9, there have been many freehold sites launched for collective sales in the recent week. Beside Cavenagh Gardens, Park House, 336 RV, Trendale Tower and Cairnhill Astoria are also put up for sale in the Enbloc market.
The public tender for Cavenagh Gardens shall close on June 27.
This property with its block of two high-rise towers and another one that is low-rise is just a couple of minutes’ walk to the Dhoby Ghaut MRT station, and similarly a short walk to the Newton MRT station. In fact, it is even a shorter walk to the Somerset MRT station.
There are Attractive Amenities Nearby
Beginning with schools, the Cavenagh Garden site has great amenities nearby. The reputable schools close by include Chatsworth International School and Anglo-Chinese School (Junior), both less than ½km away, and the Anglo-Chinese Junior School (Newton), which is just slightly more than ½km away.
Area residents are also well served by big supermarkets and shopping centres, in addition to exclusive country clubs.
The famous Newton Food Centre is located very near to the freehold site.