If you are looking for a new home in the heart of Singapore, you may be interested in Yuan Ching Road Condo Former Park View enbloc. This project offers a mix of services and amenities. A wide variety of food spots are located nearby. You can even enjoy home-stays at this development.
Yuan Ching Road
Chip Eng Seng has acquired 50 percent of KSH Holdings and plans to redevelop the former Park View Mansions. The total project costs are expected to exceed SG$260 million. The joint venture will use both internal funds and external borrowings to finance the acquisition.
The redevelopment plans will see the former estate transformed into a residential complex. Although some units will be sold off, the new owners plan to retain the majority of the property value. The redevelopment project is expected to start in Q3 2019.
Yuan Ching Road is home to numerous new projects. Parkview Mansions is the most recent. The Lakeside Towers and Lakeside Apartments are also nearby. In terms of location, they’re only a short drive away from Jurong Lake District.
Former Park View Mansions
The Yuan Ching Road Condo Former Park View Mensions Enbloc is one of the latest enblocs in Jurong. Located at Yuan Ching Road, it has a permissible plot ratio of 2.1 and a land area of 17,834 square metres. It was listed for collective sale last month, but the developers were unable to raise the required funds. The price has fallen by 30% since then, but it still represents a high premium over selling the units individually.
The former Park View Mansions site is set to be redeveloped into a mid-sized new development of 440 units. The project is located next to the Jurong Lake Gardens. The surrounding area is expected to become the largest business district outside of the CBD. The Singapore Tourism Board has also announced plans to develop a tourism district next to Jurong Lake.
Price per sq ft
Yuan Ching Road Condo is a new development in the area near the Lake Side MRT Station. A brochure for the project is now available online, featuring a floorplan, video and gallery. A showflat is also available to view.
The former Park View Mansions is under a 99-year lease. The lease started on October 1, 1976, and will run till 2029. The price of the property, which includes the difference premium based on the plot ratio, is S$1,023 psf. Buyers must obtain JTC and Urban Redevelopment Authority approvals before acquiring the property. The enbloc market is experiencing a boom with over 10 developments being completed since the beginning of the year. The rising prices of new private houses and robust performance of recent condo launches have also helped boost the market.
Park View Mansions has a gross plot ratio of 2.1, allowing it to yield up to 440 units. The site is approximately 191,974 square feet in size. The developers expect to gain a total of $320 million from the collective sale. In addition, they will invest $157 million for land intensification, and top up the 99-year lease of the site.
Joint venture between KSH
Recently, KSH and Yuan Ching Road Condo sold off a piece of land called the former Park View Mansions Enbloc to a group of investors led by Chip Eng Seng. The property consists of four 10-storey residential blocks with around 160 units. The new owners plan to redevelop the site, offering residents unobstructed views of Jurong Lake. In addition, the project is slated to be near Lakeside MRT station.
The development company plans to spend at least SG$260 million on the project. This includes the purchase price of the former Park View Mansions. The development will be funded by internal funds and external borrowing.
Chip Eng Seng
Developers in Singapore have stepped up land banking through the collective sale market. Park View Mansions, a former private housing project located in Yuan Ching Road, was acquired by three developers for $260 million. Developers plan to redevelop the site and will build 440 residential units on the land. The site is 99-year leasehold with a gross plot ratio of 2.1. Its price is expected to launch at $2,400 psf.
Yuan Ching Road Condo is a new development that is located near Lakeside MRT station. It has a brochure that has several images and videos of the units. It also has a floorplan and VVIP dates. To know more, you can visit the showflat or visit the website.