Kentish Green Condo which located at Oxford Road, has relaunched their Collective Sale in 2019.
Its owners have reduced the reserve price to S$200 million from previously S$230 million for the en bloc site.
The site is a 99-yr leasehold property which has a total 122-unit built in it and the current lease now left 76 years.
Interested buyer needs to pay around S$20 million premium in order to top up the lease to a fresh 99 years. Upon successful sale, each owner stands to receive between S$1.5 million and S$1.8 million.
The Urban Redevelopment Authority (URA) has informed the CSC of Kentish Green that it had potential permission to increase development parameters which includes an increase its plot ratio of the site from the current 2.8 to 3.
The height control could be increase from the current 6 storey to potentially 28 storeys.
Kentish Green Condo is close to Farrer Park MRT which is only 400m away and next to it is the grand new opening Russian Cultural Centre.
Additionally, it is near to many schools such as Anglo-Chinese School (Junior), St Joseph’s Institution Junior and Farrer Park Primary. The site is surrounded by established eateries, famous seafood restaurants, cafes, supermarkets and shopping malls
It only takes a short drive to Novena Medical Hub, Orchard Road Shopping District, Central Business District and Marina Bay Sands.
The public tender for Kentish Green Condo closes on March 28, 2019