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

Jervois Gardens Sold Collectively to SC Global

Brownstone, a unit of SC Global, has secured the collective sale of Jervois Gardens for $72 million. The tender for the freehold development located in River Valley ended on Tuesday (26 September) and there were a total of 8 bids for the property.

The sale price of $72 million makes out to around $1,373 psf per plot ratio and each owner stands to pocket $3.3 million to $4.5 million. Jervois Gardens sits on 34,038 sq ft of land and is conveniently located in between Redhill MRT station and the upcoming Great World City MRT station. This is their third attempt at an en bloc sale and it has proven that third time is the charm.

SC Global has yet to reveal what their plans for the site is and the sale is subject to approval from the Strata Titles Board.

 

Read more:

Up For Collective Sale: Jervois Gardens

or find out more on the successful collective sale of Jervois Gardens at the Straits Times website.