Kensington Park condo goes on sale with a guide price of $1.28b

The property is being sold via public tender.

The Kensington Park condominium in Serangoon Garden has been launched for sale via public tender with a guide price of $1.28b.

The public tender will close on 7 July 2022 at 3 p.m.

Including the development charge (DC) payable of approximately $178.1m, the price will work out to be approximately S$1,414 per square foot per plot ratio (psf ppr), according to the property’s marketing agent, CBRE.

The land rate will be lower at $1,371 psf ppr if the 7% bonus gross floor area allowed for balconies and a DC payable of approximately $232.1m will be taken into consideration.

The 316-unit condominium located at 2, 4, 6, 8, 10, 12 Kensington Park Drive sits on a 491,000 sq ft rectangular plot with an allowable gross plot ratio (GPR) of 2.1 and a building height control of up to 24 storeys.

It can also be redeveloped into more than 1,000 residential units, subject to a pre-application feasibility study on traffic impact to be conducted and approval from Land Transport Authority, according to Michael Tay (郑兆能), head of Singapore Capital Markets, CBRE.

“With a large residential plot of approximately 500,000 sq ft, a developer will be able to enjoy economies of scale and curate an iconic 999-year landmark development offering a full range of condominium facilities,” Tay said.

Follow the link for more news on

CBRE

property for sale

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia