The former Park View Mansions Condo at Lakeside Garden Jurong Enbloc is up for sale, with prices starting at $862 psf. The condo is a 99-year leasehold development by KSH Holdings, Chip Eng Seng and SingHaiyi. It is well-connected by public transportation.
Park View Mansions has a 99-year leasehold tenure
Park View Mansions is a relaunched condominium in District 20. Its 99-year lease began on October 1, 1976. The developer, ERA Realty, has estimated that the property’s sale price would be about S$1,023 psf ppr. It is on a 191,974 square-foot piece of land, which could yield 440 units. The developers hope to raise up to $320 million from collective sales. They will also spend $157 million on land intensification. The remaining S$65 million will go towards topping up the 99-year lease.
The joint tenderers plan to develop the property as a joint venture. Each of them will own 40% of the property. In exchange for this 40-percent stake in the project, each joint tenderer will have to pay a S$100,000 tender fee. The rest will be used for the development of the project. The site is near the Jurong Lake District and Lakeside MRT station. It is zoned for residential use and is expected to reach a gross floor area of 403,145 sq ft.
It is a joint venture between Chip Eng Seng, SingHaiyi and KSH Holdings
While the recent strong performance of private new homes has helped buoy the en bloc market, concerns about inflation, rising costs and slowing sales are weighing on the outlook. With this in mind, the joint venture between Chip Eng Seng, SINGHaiyi and KSH Holdngs is taking a cautious approach and is working with experienced co-investors.
The three property players have previously worked together in joint projects. Last December, they jointly acquired the Peace Centre/Peace Mansion for $650 million. They are also partners in the TK 189 Development, a mixed-use project with 440 units. The combined project site is 17834.8 square feet and has a plot ratio of 2.1. It is located near the Lakeside MRT station and will have unobstructed views of Jurong Lake.
It is expected to fetch $320 million in a collective sale
Owners of the former Park View Mansions Condo at Lakeside Garden Enbloc are hoping for a higher collective sale price after the failed sale of the development last year. The development is located near Lakeside MRT station, and is zoned for residential use. It has a gross plot ratio of 2.1, allowing for up to 440 dwelling units. Its land rate is currently $1,023/sq-ft ppr. In addition to a good price, owners will also get fresh 99-year leases on the property.
The EC will feature two luxury residential communities, including a midwood condominium and freehold residence. The development will eventually have over 4,000 units. The prices for these units are expected to be higher than other similar properties in the market. In a collective sale, the price of an EC plot is estimated to be between $331.8 million and $352 million, with a price per sq ft of $530.
It is easily accessible via public transportation
Located near Jurong Lake District, the former Park View Mansions Condo at Lakeside Garden Jurong Enbloc is easily accessible via bus, MRT and taxi. It is on a 191,974-square-foot site with future development potential of 403,145 sq ft.
The former Park View Mansions Condo at Lakeside Garden Jurong Enbloc is located near the Central Expressway and is accessible via public transport. The condo is near the future terminus of the RM110 billion high-speed rail project.
It is near to the Jurong Regional Line MRT Station. It is located at a strategic location near the Jurong Town Centre. It is also near the Jurong Industrial Estate and Jurong Innovation District.
It is a decent place for a decent price
If you’re looking for a good deal on a condo, the former Park View Mansions Condo at Lakeside Garden Jurong Enbloc might be the place for you. For a low price of S$1,023 psf ppr, the former Park View Mansions can be a decent place to start. It has unobstructed views of Jurong Lake and is located within walking distance to the Lakeside MRT station.
The property is also close to the lakeside park and is in close proximity to the Second CBD of Jurong. The area is expected to see significant capital appreciation in the future. The property also has a nice, no-fuss design. Visitors will easily find their way to the units once they enter the compound through the main gate.