Bishan Park condo owners expect up to $688m in collective sale

Intensification of the site and lease top-up will require $70m-75m.

Bishan Park Condominium has been put up for collective sale with the owners expecting $680m-688m, according to Era Realty Network.

Located at 14 Sin Ming Walk in District 20, the estate is made up of five blocks of 10-storey apartments totalling 320 units. Its price is estimated at $1,122 psf per plot ratio, and each unit could receive sales proceeds from $1.9m to $2.3m from the sale. About $70m-75m is also needed for the intensification of the site and to top the lease up to 99 years.

About 80% of its subsidiary proprietors by share value and strata area signed the collective sale agreement, ERA Realty Network division director and marketing agent Stanley Koo confirmed.

With 71 years left on its 99-year lease, the condo sits on a land area of 269,796.43 sqft with a plot ratio of 2.1, and comprises 5 blocks of 10-storey apartments totalling 320 units.

It is located near Bright Hill MRT Station on Thomson-East Coast MRT Line, and it takes a 15-20 minute drive to CBD and Orchard Road.

Primary schools within a 1 km radius include Ai Tong School, CHIJ St Nicholas Girls’ School and Ang Mo Kio Primary School, and nearby secondary schools include Raffles Institution, CHIJ St Nicholas Girls’ School, and Catholic High School.

The site also has access to Bishan Park & Gardens, and is near Upper Thomson Road where there is a string of restaurants and eating establishments. Recreational facilities nearby include the Singapore Island Country Club and the Lower Peirce Reservoir Park.