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Mayfair Gardens Has Benn Sold $52 Million By Citrine Property

Singapore Knight Frank is pleased to announce that Mayfair Gardens, a 124 systems residential growth located off Dunearn Highway, has been offered collectively to Citrine Property Pte Ltd, a subsidiary of Oxley Holdings Ltd, for S$ 311 million. The price, with an additional lease top-up costs estimated at S$ 52 million payable to the state to cover up the lease to a fresh 99 years, converts to a land cost of around S$ 1,244 per square foot each tale proportion (psf ppr). Over 80% of the owners have actually consented to the en bloc sale within much less contrasted to a month from the really first trademark. A public tender wanted that released on 23 October 2017 in addition to closed on 16 November 2017.

Each owner will definitely stand to get a gross price of about S$ 1.7 million to S$ 2.89 million after an efficient sale, to a variety of issues being completely satisfied, consisting of an order of sale by the Strata Titles Board or High Court. Mayfair Gardens is a personal family estate making up 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 Dairy Farm Residences is a various with Mayfair Gardens, Dairy Farm Residences location is excellent, the buidling is modern and also has modern exterior. It has a total of 4 blocks each 22 floor high. Nested in a searched for residential area, the growth is close to trustworthy institutions, a wide range of facilities, and likewise an easy 300 metre stroll from King Albert Park MRT Station.