Kensington Park Condo En Bloc Sale Relaunched Instagram

Kensington Park Condo En Bloc Sale Relaunched – 999-Yr Leasehold (OCR)

According to the exclusive marketing agency CBRE, on Tuesday (Oct 4), the Kensington Park condominium in District 19 has been offered for en bloc sale through public tender with an unaltered reserve price of S$1.28 billion.

The land price is equivalent to about S$1,444 psf ppr after accounting for a land betterment fee of S$209.8 million.

After taking into account the 7% bonus gross floor area (GFA) allowed for balconies and a land improvement fee of about S$273.1 million, this comes out to S$1,407 psf ppr less.

The 314-unit apartment building is on 491,000 square feet of land and is at 2–12 Kensington Park Drive.

It has a 999-year leasehold tenure and is designated for residential use, with a maximum allowable development height of 24 storeys and a gross plot ratio of 2.1.

The land may be converted into more than 1,000 residential units, according to Michael Tay, head of capital markets at CBRE Singapore, if the Land Transport Authority gives its clearance and a pre-application feasibility assessment on the project’s potential traffic effect is undertaken.

“With selling prices above S$2,100 psf for brand new 99-year outside of central (OCR) projects becoming the new norm, we are confident that the selling prices of S$2,350 to S$2,450 psf for a brand new 999-year leasehold OCR project like Kensington Park will be acceptable to the market,” Tay remarked.

Kensington Park Condo: Nearby Amenities

The redevelopment site of Kensington Park is close to many popular schools and well-known food centres, making it more appealing to potential home buyers who want to live in this area.

Schools that can be found in the vicinity are Nanyang Junior College, St Gabriel’s Secondary, Zhonghua Primary, Australian International, Anderson Serangoon Junior College, CHIJ Our Lady of Good Counsel, Paya Lebar Methodist Girls’ Secondary, Montfort Junior, Lycée Français De Singapour, and Zhong Hua Secondary School.

Chomp Chomp Food Centre, Serangoon Garden Market & Food Centre, Serangoon Garden Circus, and Serangoon Garden Country Club are among the available amenities.

The bid for the Kensington Park enbloc site will conclude on November 18 at 3 p.m.

Kensington Park Condo En Bloc All Details

  • Status: For Sale

  • Tenure: 999-year Leasehold

  • Land Size: 491,000 sq ft

  • Total Units: 316

  • Gross Plot Ratio: 2.1

  • Address: 2 to 12 Kensington Park Drive

  • District: 19

  • Singapore Region: Outside Central Region (OCR)

  • Marketing Agent: CBRE Singapore

  • Reserve Price: S$1.28 billion

  • Tender Close: Nov 18, 2022