The 999-year leasehold site spans 5,783 sq m or 62,243 sq ft.

Queen Astrid Gardens launches collective sale, $126.8m guide price

SINGAPORE – The proprietors of Queen Astrid Gardens have released their residential property for cumulative sale – putting on the market a land parcel in the right location and also dimension to potentially develop four excellent course bungalows (GCBs).

The site lies within the special Queen Astrid Park GCB location and includes an overview price of $126.8 million, which converts to around $2,037 per square foot of acreage, special marketing agent Knight Frank Singapore said on Wednesday (Sept 2).

Mr Ian Loh, Knight Frank Singapore’s head of funding markets for land as well as building, cumulative and strata sales, said the website “postures opportunities for possible buyers aiming to create a family estate and also leave a long-lasting heritage”.

The 999-year leasehold website extends 5,783 sq m or 62,243 sq ft. The ultimate buyer can develop a single manor or partition it for as much as four GCB parcels, subject to approval by the pertinent authorities, claimed Knight Frank Singapore.

Mr Loh kept in mind that there are just about 2,800 GCBs in the 39 GCB Areas in Singapore and the last GCB sale of land over 60,000 sq ft in Area 10, where Queen Astrid Gardens website is located, was in 2015.

The home sits on elevated premises as well as is possibly the highest point in the locality, stated the agency, adding that it likewise has a generous frontage of more than 100m onto Queen Astrid Gardens road.

” With an extremely limited supply, GCBs with beneficial features such as regular-shaped land and raised grounds usually regulate good costs over various other GCBs,” claimed Mr Loh.

” With the option for subdivision right into numerous GCBs, the property is a specifically eye-catching proposal for home applicants or capitalists trying to find more wide range conservation capacity over the long-term.”

Built in 1989, Queen Astrid Gardens condo is a four-storey growth consisting of 16 apartments varying from 224 sq m to 239 sq m.

The proprietors stand to pocket $7.8 million to $8.06 million each, based on the guide cost for the residential or commercial properties like Affinity at Serangoon and Amber Park.

The tender for Queen Astrid Gardens will certainly close on Oct 7 at 3pm.