The owners of Phoenix Heights at Bukit Panjang with 32 units are contemplating to launch the property on collective sale. According to Anna Tan, of ERA Realty Network, the marketing agents for the 48-yr old property.
The tender for collective sale of the property is to be launched on 7th June and is slated to close on 10th July.
The condo with a 99-year leasehold is comprised of 42,764 sq ft site area. Asking price for the development is S$36 million translating to land rate of approximately S$668 psf ppr which includes the premium payable for the lease top-up and 10% towards bonus balcony area.
The site is earmarked under residential zone as per the Master Plan of 2014 with a plot ratio of 1.4
Phoenix Heights is located at 71 Phoenix Avenue in the District 23 and 600m away from Bukit Panjang MRT Station with Brand new Hillion mall attach to it. Several schools can be found within 1 km range.
Nicon Gardens which is another 99-yr leasehold property that was put up for collective sale in March 2018.
The asking price for this property was S$110 million (S$800 psf ppr). However, after closure of the tender on 18th April, the site is now under private treaty sale.
Parkview Mansions which tender close on April 20 met the same fate as there are no bidders for the 99-yr leasehold site.
Teck Guan Ville comprising 14 units, is another property taking the private treaty sale route. This freehold condominium on the Upper East Coast Road was launched for en-bloc sale with the land rate put at S$1,075 psf ppr including the 10% bonus for balcony space. The private treaty for this property ends on 6th June.