SINGAPORE – We are pleased to announce that Pine Grove will be re-launching a collective sale by tender for the 660 unit condominium located in the Holland Road Cluster on 30th July, Tuesday and will close at 3 pm on 30 August 2019, Friday.
Owners have approved and passed a resolution to lower the reserve price for the relaunch with signatures being collected to cross the statutory 80% by Share Value and by Strata Area before an actual sale could be concluded.
The reserve price translates to an estimated land rate of S$1,214 per sq ft per plot ratio (psf ppr), after factoring differential and lease upgrade premiums payable on a maximum permissible gross floor area of about 1,875,760 sq ft.
The 893,219 square foot 99-year leasehold site has a gross plot ratio of 2.1 and can be redeveloped into an iconic residential landmark of up to 24-storey with 2,050 maximum allowable dwelling units with the average size of 85 sqm, subject to planning approval.
See more: 1,178 new private homes sold in July
It is a prominent residential landmark located in district 21 with close proximity to Holland Village, reputable educational institutions, primary and secondary schools, National University Hospital, shopping malls and several MRT stations.
See more: Holland Village: Alive and Kickin’!
Connectivity-wise, Pine Grove is centrally located and has easy access to the expressways (AYE, PIE, BKE), with Orchard Road and the Central Business District a few minutes’ drive away and, Jurong East new Central Business District and Jurong Lakeside Entertainment Region a few minutes’ drive to the west.
This article is contributed by C&H Properties.