PUBLISHED 8th Sept 2017
Changi Garden is a freehold property sits on about 200,093 sqft is located at the junction of Upper Changi Road North and Jalan Mariam. It is the latest Enbloc deal month to date. It comprises 60 apartments, 12 penthouses and 12 shops.
The residents of Changi Garden have agreed to put up their nearly 40-year-old property for collective sale by public tender on Thursday. Their asking price is S$196 million, which work out to about S$700 per square foot per plot ratio.
“This residential development at Changi Garden is likely to redeveloped into a low-height condominium in a private landed serene residential neighbourhood. The developer can develop about 280 to 300 housing units in this development, say Mr Nicholas Mak, head of the Research & Consultancy Department at integrated asset manager ZACD
“The current raise up in the Private Development Charge (DC) rates, the en bloc sale projects with very high DC entry point, results in little or no DC payable for redevelopment, subsequently undertaking can appreciate a benefit over other competing en bloc sale projects. The previous could yield the comparative enbloc deal continues to the proprietors paying little heed to the adjustments in the DC rates.”
Changi is slated for change into a major employment centre, said Edmund Tie, indicating to the processing agglomeration of business foundations in the area, including Changi Business Park, Changi North and South Industrial Estates, Loyang Industrial Estate, Singapore Expo and others. “This pattern is anticipated to proceed given the area’s proximity to Singapore Changi Airport and Singapore University of Technology and Design. The upcoming Jewel Changi Airport and Terminal 4 will serve to additionally upgrade the engaging quality of the area,” it included.
The property is all around associated to the rest of the island given its accessibility to East Coast Parkway, Tampines Expressway and Pan Island Expressway.
Together recent enbloc news in Meyer Rise Condo in the eastern part of Singapore, that makes prices in Seaside Residences by Fraser Centrepoint along Siglap Link and The Line at Tanjong Rhu (Freehold next to Katong MRT) attractive.
The tender for the Changi Garden site will close on Oct 16.
Source: Business Times
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