The en bloc sale craze in Singapore refuses to die down and the latest to join this race is Fernhill Court.
The owners of the freehold property located at 60 Fernhill Road have set a reserve price of S$125 million. Colliers International the marketing agents for the sale announced the sale of the property which will be through a public tender.
Taking into account the reserve price the land rate for the 48,768 sq ft property comes to S$1,885 psf ppr (per square foot per plot ratio). This rate also factors S$3.7 million development charges payable for intensifying land use at the site.
The asking price is attractive for the developers considering the fact that Dalvey Road situated Villa D’Este has achieved an S$1,898 psf ppr in a recent en bloc sale.
What would also work to the advantage of the developers is the fact there is an acute scarcity of freehold sites in the area and Fernhill Court can fill that gap in their land bank.
Fernhill Court was built in the year 1981 and has 18 maisonettes that range between 2,271 and sq ft to 2,982 sq ft in their size.
Depending on the size of their individual units each owner is expected to pocket minimum S$6.32 million to S$8.3 million at the current reserve price.
The representative Colliers said that 100% consensus for the en bloc sale has already been collected and the successful buyer do not need to get approval from Strata Titles Board to take possession of the site once the necessary vacant possession period gets over.
The public tender for Fernhill Court shall close on June 21, 3pm 2018.
The Enbloc Site is a Freehold Property in Which the Developers Only interested
This site has 1 Huge Advantage, No need STB approval. Owners had given 100% Consent for this Collective Sale
The site is located in prime District 10 close to Orchard Road shopping area
It is in the close proximity White House Park, Nassim Road and Dalvey Road
Easily accessible by Stevens MRT Station on and shall be connected to Thomson-East Coast Line in 3 years
Many amenities around including Singapore Botanic Gardens, Anglo-Chinese School, UNESCO World Heritage, Nanyang Primary School and Singapore Chinese Girls’ School etc…
Only 10 mins drive to Central Business District and Marina Bay