Park View Mansions launched for collective sale at $260m
The tender will close on 27 July at 2 pm.
Park View Mansions has been launched for collective sale at $260m on 20 June.
The public tender for the property will close on 27 July at 2 pm.
ERA Realty, the marketing agent of the property, said the sale offering translates to a land rate of $1,023 per square foot per plot ratio (psf ppr).
Park View Mansions sits on a sizeable land area of approximately 191,974 square feet and is zoned for residential use with a gross plot ratio of 2.1 under the Master Plan 2019.
The site can also be redeveloped up to a gross floor area of 403,145 square feet, reflecting an equivalent plot ratio of 2.1, subject to the approval of the URA and the JTC. A differential premium will be payable to maximize the plot ratio.
“We expect strong market demand for the new project at the Park View Mansions site, given its prime location and rare land shape which commands unblocked views of Jurong Lake Gardens, Lakeside Garden and Jurong Lake. The future development can potentially be rebuilt into an upscale 20-24 storey condominium project of over 440 units, assuming an average apartment size of 915 square feet," said Jeremy Rikas Chiu, Group Division Director, ERA Realty Network Pte Ltd.