Chuan Park condo in Serangoon Gardens up for collective sale at $938m indicative price
SINGAPORE (THE BUSINESS TIMES) – Chuan Park Condominium at 240 to 250 Lorong Chuan has been put up for collective sale via public tender at an indicative price of $938 million, said marketing agent ERA.
Spanning 400,588.7 sq ft, the property has a gross plot ratio of 2.1 and an achievable proposed gross floor area (GFA) of 841,236.3 sq ft. Including the 7 per cent bonus GFA, this amounts to about $1,042 per sq ft per plot ratio.
The 99-year leasehold property could be redeveloped into 900 to 919 units, added ERA.
More than 80 per cent of the owners have consented to the collective sale.
The condominium is located beside Lorong Chuan MRT and about 900m from Serangoon Bus Interchange or NEX mall.
In its vicinity are hawker centres such as Serangoon Garden Market and Food Centre as well as neighbourhood cafes and bars.
Schools in the area also include CHIJ Our Lady of Good Counsel, St Gabriel’s primary and secondary schools, Raffles Girls’ Secondary School, Nanyang Junior College, the Australian International School as well as several others.
The tender will close on Nov 18 at 3.30pm.
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