Charming Garden relaunches for collective sale at guide price of $175 mil

CDL Aries acquisition of The Myst two adjoining plots in Upper Bukit Timah to create a residential project with easy access to public transport, green spaces and amenities.

Charming Garden, an exclusive 999-year leasehold residential development in District 10, has been put up for public tender sale with a guide price of $175 million. Situated at 138 & 140 King’s Road, the development occupies a 7,837 sqm (approximately 84,357 sq ft) elevated site amid a low-rise neighbourhood. The 32-unit, four-storey development is within the vicinity of Farrer Road MRT Station, Empress Road Market and Food Centre, Singapore Botanic Gardens and schools such as Raffles Girls’ Primary School and Hwa Chong Institution.

URA has advised that with necessary prerequisites, the redevelopment plan for the area may be reverted back to the approved flats’ building form. Together with no land betterment charge and no bonus GFA scheme, the total gross floor area (GFA) shall not exceed the existing 7,898.63 sq m (85,020 sq ft).

Tang Wei Leng, managing director and head of capital markets and investment services, Singapore at Colliers, believes this could be a great opportunity for ultra-high-net-worth individuals and developers. She mentions that with upcoming unit launches in the core central region (CCR) estimated to only a 22% for this year, prime leasehold projects such as this are rare and sought after.

The public tender for Charming Garden closes on April 14 at 12pm. With Transactional and nearby property information available on EdgeProp’s Landlens tool and a successful collective sale of Holland Tower recently, it’s sure to be a spectacular bidding war.

For those looking for a long-term investment in a prime district within a great locale, Charming Garden could be the perfect find.