Queen Astrid Gardens, a 4 level household development, has been rolled out once more for collective sale, with the home owners expecting tenders greater than the $123.8 mil reserve figure or close to $1,989 psf on the property measurement, communicated exclusive advertising and marketing professional Knight Frank S’pore.
Located inside the Queen Astrid Park GCBA, the 999-year rental condo sits a 5,782.6 square meter plot and was earlier sold for $126.8 million in September 2K20.
The property constitutes sixteen domestic suites computing between 2411.12 square ft and 2hundred 39 sq meter. Settled on heightened grounds, it experiences greater than hundred metres frontage onto Queen Astrid Gardens.
“Queen Astrid Gardens presents opportunities for interested home buyers wanting to develop a large family group landed estate and also make an everlasting legacy. The different redevelopment choices provide an alluring project for entrepreneurs including home owners finding more assets preservation opportunity,” mentioned Ian Loh, Head of Capital Markets for Land & Building, Collective & Strata Sales, Knight Frank SGP.
Knight Frank noticed that the prospective buyer can easily retain its existent use as apartments, redevelop it in to an individual manor or subdivide it in to up to four GCB piece of lands, dependent on the relevant authorities’ approval.
Ian indicated a “spurt of GCB activity ever since December’20, by having at the very least 15 GCBs transacted at a total of beyond $Five hundred Thirty Two mil”.
“A number of prominent GCB sales within the last two months feature Five Swettenham Close at S$ 2,893 psf on ground area, 14 Cluny Hill at S$ 2,315 per sq foot on land, and even One Chatsworth Park at S$ 2,082 per square foot on ground area,” Loh shared.
The tender for Queen Astrid Gardens wraps up on 31 Mar.