Singapore Knight Frank is pleased to announce that Mayfair Gardens, a 124 units residential development located off Dunearn Roadway, has been sold collectively to Citrine Residential property Pte Ltd, a subsidiary of Oxley Holdings Ltd, for S$ 311 million. The price, with an extra lease top-up premium approximated at S$ 52 million payable to the state to top up the lease to a fresh 99 years, translates to a land price of around S$ 1,244 per square foot each story proportion (psf ppr). Over 80% of the proprietors have actually consented to the en bloc sale within less compared to a month from the very first signature. A public tender was after that released on 23 October 2017 as well as closed on 16 November 2017.
Each proprietor will certainly stand to get a gross price of about S$ 1.7 million to S$ 2.89 million after an effective sale, to a number of problems being satisfied, consisting of an order of sale by the Strata Titles Board or High Court. Mayfair Gardens is a personal household estate comprising 6 domestic walk up blocks of 124 house systems varying from 100 sq m to 200 sq m, and has a site location of 19,368 sq m (approx. 208,475 sq ft). The Parc Botannia condos is a different with Mayfair Gardens, Parc Botannia Location is good, the buidling is modern and has contemporary facade. It has a total of 4 blocks each 22 storey high. Nested in a sought after suburb, the growth is close to credible institutions, a wide array of amenities, and also a simple 300 metre stroll from King Albert Park MRT Station.