Owners of the 43-yr old Parkview Mansions apartment have put it up for collective sale, and the public tender closes at midday, April 20, 2018.
This property, which sits within a site 191,974 sq ft, is located in a very prime area – Singapore’s second Central Business District, precisely within Jurong Lake District.
This district is considered District of the Future by the Urban Redevelopment Authority (URA).
Information on this sale was first released by Huttons Asia Pte Ltd, who also said this is the first collective sale tender to be launched in this Hot district.
The site has been zoned residential, and its gross plot ratio is 2.1. This means the successful bidder can construct a development with a gross floor area of 403,145 sq ft.
If the average size of the new housing units ranges between 860 and 1,200 square feet, the site could hold between 325 and 455 units. Mr.
Terence Lian, Huttons Asia’s Head of Investment Sales, notes the excellent opportunity the site offers for redevelopment, since it is at a strategic location where growth rate is high.
It is anticipated that Jurong Lake District, which is 360 hectares in size, will soon create more than 100,000 jobs across different sectors, including maritime, technology and infrastructure development. It is envisaged that the area will accommodate mixed use businesses of high quality.
As Ms Angela Lim of Huttons Asia explains, the planned Singapore-Kuala Lumpur High Speed Rail (HSR) terminus is bound to provide a new significant gateway into the country, and the subsequent accelerate growth in the region will increase demand for decent accommodation by locals as well as expatriates.
Besides the site being within a prime district, it also provides a great view of the expansive Jurong Lake Gardens, which is 90 hectares in size and the second largest among Singapore’s national gardens.
The site also has a whole 300m frontage of the Jurong Lake Gardens, thus providing a scenic view and feel of the tranquil lake.
Accessibility to Parkview Mansions is also great as the area is well served by Jurong East’s Integrated Transport Hub, and it is just 20 minutes’ drive away from the city centre using the Ayer Rajah Expressway.
It is also anticipated that the new Jurong Regional Line will begin operation in 2025.
Residents also enjoy being within an established estate and in close proximity to social amenities. Nearby mega malls include Jem, IMM, Westgate, JCube and Big Box. Another attraction for the site is nearness to good schools.
Accessibility to a location is very important because it means residents are not closed from the rest of the country, and movement in and out of the place is convenient.
With Bukit Batok MRT station and a couple of bus stops within close proximity to Parkview Mansions, the place can be said to be easily accessible.
NS2 Bukit Batok MRT is the nearest station which is 10 to 15 mins walk away
Many Bus services just outside the condo
Travel in and out of Park View is also enhanced by the Pan Island Expressway (PIE) as well as the Ayer Rajah Expressway (AYE) that connect the location to Jurong, the Central Business District (CBD), and other Singapore locations.
Primary schools, secondary schools and other educational institutions signify vibrancy in a location, and it is also an indicator that the place is likeable.
This means any property someone buys is bound to keep appreciating in value, and whenever one feels like selling it in the future it will normally fetch a significantly high price.
In short, buying property in a place with schools around is a worthwhile investment and developers know it.
Current residents of District 23 and prospective ones are no different from parents who place a high premium on reputable schools. They are glad to reside within a location where educational needs of children are easily met.
The schools around Parkview Mansions include:
- Yusof Ishak Secondary School, just 0.16km away.
- Keming Primary School, 0.6km away.
- Bukit Timah Primary School, 0.83km away.
- Wheeling High School also within easy reach.
- John Hersey High School also within the district and easily accessible.
Parkview Mansions is located within Jurong Lake District. Many new developments are going around here which makes this En Bloc site very attractive.
Not only that, there are many attractions to be found here. After Park West was sold, developers are looking similar sites that are near to Jurong Lake District Hot Zone.
Jurong Lake District is going to be transform to Singapore’s 2nd Central Business District
Many exciting new developments includes New World Class Singapore Science Center, Jurong Lake Gardens, Lakeside Village and much more
Shopping and Dining, makes it easy as Parkview Mansions is near to several Mega Malls Namely Big Box, Westgate, Jem, IMM and JCube
For leisure and relaxation, one can go to Chinese Garden and Japanese Garden. Other choice will be Bukit Timah Nature Reserve which is close to the condo