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Release Of Mayfair Gardens Sold Out $52 Million To Citrine Property

Friday , 14, February 2020 Leave a comment

Singapore Knight Frank is pleased to introduce that Mayfair Gardens, a 124 units residential advancement located off Dunearn Highway, has been marketed collectively to Citrine Property Pte Ltd, a subsidiary of Oxley Holdings Ltd, for S$ 311 million. The rate, with an extra lease top-up costs approximated at S$ 52 million payable to the state to cover up the lease to a fresh 99 years, converts to a land price of around S$ 1,244 per square foot each story proportion (psf ppr). Over 80% of the owners have in fact consented to the en bloc sale within much less contrasted to a month from the extremely initial signature. A public tender desired that released on 23 October 2017 in addition to closed on 16 November 2017.

Each proprietor will absolutely stand to obtain a gross price of about S$ 1.7 million to S$ 2.89 million after an efficient sale, to a variety of troubles being satisfied, containing an order of sale by the Strata Titles Board or High Court. Mayfair Gardens is an individual house estate consisting of 6 domestic stroll up blocks of 124 residence systems differing from 100 sq m to 200 sq m, as well as has a site location of 19,368 sq m (approx. 208,475 sq ft). The Avenir apartments is a different with Mayfair Gardens, The Avenir location is great, the buidling is modern-day and also has modern facade. It has a total of 4 blocks each 22 storey high. Nested in a searched for suburb, the growth is close to reliable organizations, a wide variety of features, as well as likewise a basic 300 metre walk from King Albert Park MRT Terminal.

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