Mar Thoma Mansions En Bloc Sale 2024 - 999-year leasehold

Mar Thoma Mansions En Bloc Sale 2024 – 999-year Leasehold

Mar Thoma Mansions, a distinguished 999-year leasehold condominium situated along Mar Thoma Road in Bendemeer, has officially been launched for collective sale.

Priced at an indicative S$54.7 million, the sale is managed by ERA Realty Network.

This valuation pegs the land cost at approximately $1,455 per square foot per plot ratio (psf ppr), inclusive of a 7% bonus gross floor area dedicated for balconies.

This notable sale demands an additional estimated land betterment charge of $2.438 million, adding a layer of investment for potential developers.

Constructed in 1995, Mar Thoma Mansions currently comprises a 10-storey block with just 18 units nestled on a 13,107 sq ft site.

The Master Plan 2019 designates the site with a plot ratio of 2.8, allowing for a maximum permissible gross floor area of 36,699 sq ft.

Mar Thoma Mansions Site Redevelopment and Nearby Amenities

ERA’s projections suggest the possibility of redeveloping the site into a new 40-unit condominium, averaging 914 sq ft per unit, pending relevant approvals.

“This is a unique opportunity for developers looking for boutique redevelopment sites,” commented Tay Liam Hiap, ERA Singapore’s Managing Director of Investment Sales.

The locale’s appeal is enhanced by its proximity to esteemed educational institutions such as St Andrew’s Junior School, Bendemeer Primary School, and Hong Wen School, and lifestyle amenities including the Kallang River, neighbourhood parks, Woodleigh Mall, and City Square Mall.

Strata unit holders at Mar Thoma Mansions could see substantial returns, with gross proceeds ranging from $3 million to $3.077 million each if the sale concludes successfully.

The tender for this coveted Bendemeer property is slated to close on June 24, marking a significant opportunity in the city’s bustling real estate landscape.

Mar Thoma Mansions En Bloc Details

  • Status: For Sale

  • Tenure: 999-year Leasehold

  • Land Size: 13,107 sq ft

  • Total Units: 18

  • Plot Ratio: 2.8

  • Gross Floor Area: 36,699 sq ft

  • Address: 28 Mar Thoma Road

  • Nearby MRTs: Potong Pasir, Boon Keng and Geylang Bahru

  • District: 12

  • Marketing Agent: ERA Realty Network

  • Reserve Price: S$54.7 million

  • Tender Close: June 24, 2024

Recent En Bloc Properties Sold

  1. Delfi Orchard (Record Price)
  2. Noel Building
  3. Shenton House
  4. Kew Lodge 
  5. GSM Building 
  6. GS Building