The collective sale market in Singapore is rapidly heating up with more properties being placed for en bloc sale

Up For Collective Sale: Mayfair Gardens

A 99-year leasehold condominium located along Dunearn Road has been placed for collective sale with an asking price of $265 million. This makes out to about $1,058 psf per plot ratio for Mayfair Gardens which sits on 208,475 sq ft of land. An additional top-up charge of $43.7 million will be payable in order to extend the lease.

Built in the late eighties’, Mayfair Gardens is comprised of six walk-up apartment blocks housing 124 units ranging from 1,076 to 2,153 sq ft in size. It is zoned for residential use with a gross plot ratio of 1.4.

Mayfair Gardens is in close proximity to prestigious schools such as Hwa Chong Institution, Ngee Ann Polytechnic and Methodist Girls’ School, and there are many eateries and bistros in the area as well. It is also within walking distance to the King Albert Park MRT Station on the Downtown Line.

The tender exercise will close on 16 November.

 

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