$800 million reserve price for Leonie Gardens

With 71 years left on its 99-year lease, the Leonie Gardens condominium is now up for collective sale with a reserve price of $800 million. 

District 9 has not had much en bloc activity of late, thus any should be well-received.

Leonie Gardens

Prime district private real estate near Orchard road

Leonie Gardens has a gross floor area of 410, 431.80 sq ft and currently holds 138 units with a plot ratio of 2.8. Depending on the average unit size, the number of new units that can be built on the plot will vary.

For example, with an average size of 70 sq m per unit, 540 units can potentially be built on the site. Should the average size per unit be 100 sq m, the site can yield 380 units.

Somerset MRT Station. Picture: iProperty

The site is in between River Valley road and Orchard road, with the nearest MRT station being Somerset. Situated along a quiet road off the main Orchard road stretch to provide some exclusivity, it is also but just a short drive, walk or bus-ride away from the city-center buzz.

Properties nearby include The Marq and Paterson Suites. The ISS International School and Chatsworth International School are also not far away.

Jurong Lake District condominium up for en bloc sale

In the up-and-coming Jurong Lake District, heralded as the second Central Business District (CBD), the 120-unit Lakeside Apartments is also going up for en bloc sale.

Built in the 1970s, Lakeside Apartments has a reserve price of $120 million. It is near Chinese Garden and Jurong Lake, thus should the new development build up, panoramic views of the area could mean better yields.

The Yuan Ching road site can hold a new development of 24 storeys. It has a 134,176 sq ft land area and a 2.1 gross plot ratio. It does, however, have a $58 million lease top-up quantum and development charge.

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