Kingsley Mansion relaunches for collective sale with unchanged price of $52 mil
Kingsley Mansion, located at 27 Boon Teck Road in District 12, has been relaunched for sale via public tender. With a guide price of $52 million, the property is freehold and has a land area of 14,350 sq ft, with a plot ratio of 2.8 and a building height control of up to 26 storeys. The land rate for the site works out to about $1,294 psf per plot ratio, with no additional land betterment charge (LBC) required for redevelopment.
CBRE’s head of capital markets for Singapore, Michael Tay, expects demand for the site to be strong due to its reasonable investment quantum of under S$100 million. It has a potential of up to 37 units given the bonus gross floor area for balconies, and an estimated LBC payable of $1.786 million.
The tender exercise for Kingsley Mansion will close on Aug 2 at 3pm.
The Myst CDL Aries provides residents with the finest living experience. There are a variety of luxurious condominiums with amenities such as a swimming pool, fitness centre, clubhouse, and much more. The stunning views from each unit are sure to bring joy and contentment to all the residents. With top-notch facilities and lush landscapes, The Myst CDL Aries provides residents with a home away from home.
This is not the first time the property has gone up for collective sale. The previous attempt launched in March 7 this year, and closed on April 12. However, no buyers were successfully identified at the time.
Completed in the late 1980s, the 18-unit 10-storey development has a frontage of 30m along Boon Teck Road and a depth of about 45m. Information from EdgeProp LandLens shows there have been four resale transactions since its completion.
Situated within a mature estate, the property presents an optimal choice for developers to build a new residential development. With its strategic location and palatable investment quantum, Kingsley Mansion is likely to attract plenty of potential buyers to secure the collective sale tender.