Two prime developments to be launched for en bloc sale

Reserve price for Pearlbank Apartments and Parkway Mansion hit $728m and $138m, respectively.

Two prime development sites, Pearlbank Apartments and Parkway Mansion, will be separately launched for en bloc sale on November 16.

According to Colliers International, the owners of Pearlbank Apartments in 1 Pearl Bank Road set a reserve price of $728m or $1,505 psf ppr.

It has a land area of around 82,376 sqft. The 37-storey building has a total of 288 units, composed of 280 apartments and eight commercial units, with a 99-year leasehold tenure.

It is near the Outram Park MRT Interchange and the Central Expressway (CTE).

The tender for the property will close on 19 December 2017 at 3 p.m.

Meanwhile, Parkway Mansion in 9 Amber Road has been priced $138m, excluding the $21m estimated development charge. The combined prices could translate to a land rate of $1,454 psf ppr.

This is the owners' third attempt at a collective sale.

The 32-unit freehold development looks set to undergo an urban renewal with a spate of collective sales in recent months, including The Albracca and Nanak Mansions in Meyer Road as well as Amber Park. Apartment sizes at the 17-storey development range from 1,819-1,948 sqft.

The tender for the property will close on 13 December 2017 at 3 p.m.

Also Read

The Hill @one-north sells 44 units, draws a strong investor-owner mix

The Hillshore sells three units on launch day

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