Fortune Park, a freehold residential development in Kovan Area has launched for en bloc sale again in 2021 with an asking price at S$115 million.
According to ERA Realty Network, their sole marketing agent, this is the owners third attempt at collective sale.
The Tampines Road freehold property was previously put up for sale in March this year with a guide price of between S$115m and S$118 million.
No buyers pick up their site and the owners decided to go again.
The development is a 10-storey block comprises of 68 apartments covers an area of 44,878 sq ft and has a gross plot ratio of 2.1.
Base on the asking price with 7% of GFA scheme incentive factored in, the land rate would translate to around S$1,140 psf ppr.
Development charges aren’t payable for the site as it already has a high development baseline.
The new development would yield 103 apartment units with gross floor area of 94,245 sq ft.
During the en bloc process, the Collective Sales Committee has been able to garner over 80% consensus among owners.
The public tender of Fortune Park freehold site closes on Sept 30, at 3.30pm.