Queen Astrid Gardens Relaunched For En Bloc Sale For $123.8mil
Queen Astrid Gardens, a four storey domestic property development, has been relaunched for collective sale, by having the owners looking for tenders above the $123.8 million reserve rate or approximately $1.989K psf on the acreage, reported privileged advertising agent Knight Frank Singapore.
Placed inside the Queen Astrid Park Good Class Bungalow Area, the Nine hundred Ninety Nine yrs lease condo covers a 5,782.6 square m location and was prior offered for $126.8 mil in Sept 2020.
The property contains sixteen domestic homes measuring within 2411.12 square foot and 2572.57 sq foot. Nestled on accelerated lands, the development experiences in excess of a hundred metres frontal onto Queen Astrid Gardens.
“Queen Astrid Gardens presents options for interested buyers looking to construct a large household landed estate in order to leave an enduring heritage. The different rebuilding options provide a desirable plan for investors and also home owners searching for future wealth preservation potential,” claimed Ian Loh, Head of Capital Markets for L&B, Collective & Strata Sales, Knight Frank SGP.
Knight Frank considered that the prospective buyer is able to preserve its current usage as apartments, reconstruct it in to a single mansion or redivide it in to as much as four GCB parcels, subject to the pertinent officials’ approval.
Ian indicated a “flurry of GCB action since Dec20, by having at minimum fifteen GCBs clinched at a total of beyond $532 mil”.
“Several prominent good class bungalow dealings in the past 2 calendar months consist of 5 Swettenham Close at S$ 2,893 per square ft on land, Fourteen Cluny Hill at S$ 2.315K psf on land, including One Chatsworth Park at S$ 2.082K per square foot on land,” he said.
The tender for Queen Astrid Gardens concludes on 31 March.