It’s third time lucky for the collective sale attempts by two private residential developments, Derby Court and Parkway Mansion.
Both properties have been sold after two earlier unsuccessful forays into the collective sale market.
RH Developments, a subsidiary of Roxy-Pacific Holdings, won the tender for Derby Court with a bid of $73.88 million, well above the reserve of $62 million. Continue reading
Iconic condominium Pearlbank Apartments is among four residential developments put up in separate tenders for collective sale yesterday.
Its reserve price is $728 million. The other three are Parkway Mansion in Katong, Derby Court near Novena, and Riviera Point along River Valley Road.
Pearlbank, a horse shoe-shaped development in Outram sited near the Central Business District, is 37 storeys high. With its reserve price, the land cost amounts to about $1,505 per sq ft per plot ratio (psf ppr), after factoring in about $195 million for the lease top-up. Continue reading
SINGAPORE – Owners of the Derby Court condominium near the Novena neighbourhood have launched a public tender for collective sale, with a reserve price of S$62 million.
The reserve price works out to S$1,168 per square foot (psf) per plot ratio (ppr). This is based on an 18,506 square foot site with a gross floor area of 53,094 sq ft, representing an equivalent plot ratio of 2.869 times, more than the 2.8-times gross plot ratio allowed under the 2014 zoning Master Plan.
There is a further 10 per cent bonus balcony plot ratio, which would yield an effective land rate of S$1,062 psf ppr. There is no development charge payable. Continue reading