Park House sold for record $2,910 psf ppr

The sale exceeded the Hampton Court collective sale site which went for $2,526 psf ppr.

Park House at 21 Orchard Boulevard was sold for $375.5m which translates to a record $2,910 psf per plot ratio, according to marketing agent CBRE.

Also read: Freehold Katong Plaza up for collective sale at $188m

“The price is a new benchmark in Singapore and exceeds the previous peak price of $2526 psf per plot ratio which Hong Kong’s Swire Properties paid for the Hampton Court collective sale site at Draycott Park in January 2013,” CBRE said in a statement.

The public tender was awarded to Shun Tak Cuscaden Residential, which is a subsidiary of Hong Kong-listed Shun Tak Holdings Limited.

Also read: House of Tan Yeok Nee up for sale at $93m

Park House is a freehold 60-unit development in Orchard Road, comprising 56 apartments and four shop units. Each apartment unit owner and shop unit owner will stand to receive a gross payout of approximately $6.1m and $8.1m respectively, CBRE added.

“The response from local and foreign developers was overwhelming; we conducted more than 20 site inspections with developers from Hong Kong, Malaysia, Singapore, China and Indonesia. All of them immediately recognized the positive attributes of Park House including its very prominent yet exclusive location on Orchard Boulevard, the accessibility to the Orchard Road shopping belt and the short walking distance to Orchard Boulevard MRT when it is completed in 2021,” said Jeremy Lake, managing director of capital markets at CBRE.

Also Read

Food factory at 30 & 32 Tuas Avenue 12 up for sale for $19.0m

CICT NPI rises 6.3% YoY to $293.7M in 1Q24

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit