Bukit Timah sites gain traction in collective sale market

Just when one site is sold en bloc, another goes on sale. All in the prime districts 10 and 11  where Bukit Timah sits.

Bukit Timah even more popular now with Downtown Line. 

The district has become even more popular with the downtown line. It has made travelling via public transport in the area more conducive. And with the number of schools along the Bukit Timah, properties here are in increasing demand.

The 19,203 sq ft Dunearn Court has just been sold for $36.3 million. That works out to be approximately $2.91 million to $3.12 million for each of the 12 apartment unit owners. The winning bid came from Roxy-Pacific Holdings unit RH Central.

The site has a gross plot ratio of 1.4 and comes with a development charge of $550,000. The land price comes up to about $1,371 psf per plot ratio. Location and it’s freehold status are the site’s calling cards. It is just 500m away from Tan Kah Kee and Botanic Gardens MRT stations and could potentially yield 35 units sized at 70 square meter each. It is also close to various schools such as  Nanyang Primary and Nanyang Girl’s High.

Mayfair Gardens put up for collective sale

Just this week, another Bukit Timah site was put up for sale – Mayfair Gardens. It was launched for collective sale with a reserve price of $265 million. Not including the $43.7 million required to top up the 99-year lease, each owner will stand to receive $145 million to $2.46 million from the gross sales proceed. To break even, prices are likely to be between $1,570 psf and $1,600 psf.

Like Dunearn court, it also has a gross plot ratio of 1.4. It is just 300 meters away from King Albert Park MRT station and has various eateries and supermarkets easily accessible just 200 meters away. It is however not a freehold site, unlike the neighbouring Dunearn Court.