Parkway Mansion Enbloc
PUBLISHED WED, DEC 13, 2017
PARKWAY Mansion had been offered for collective sale twice before this third fruitful tender. It has been sold at S$146.99 million to SL Capital (3) Pte Ltd, a consortium led by Sustained Land Pte Ltd.
The sale price was 6.5 per cent above the proprietors’ guide price of S$138 million during the tender that was launched on Nov 16. The sale price and an expected development charge of about S$21 million translate to a land rate of S$1,536 psf per plot ratio. The development charge is payable to the state for the intensification of land use.
Parkway Mansion is a 17-storey freehold development that houses apartments of sizes extending between 169 square metres and 181 square metres.
Contingent upon the span of their property, every proprietor will remain to get between S$4.5 million and S$4.7 million in net endless supply of the deal.
Parkway Mansion is located just 100 metres from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line which is slated for completion in 2023. The Line at Tanjong Rhu, a freehold development is also riding on a property wave with door step to upcoming Katong Park MRT.
Tang Wei Leng, managing director of Colliers International, which serves as marketing agent for this collective sale, said that SL Capital (3) has presented the most elevated unlimited offer.
The 3,620.9-square-metre site occupied by Parkway Mansion has a gross plot ratio of 2.8, with a potential total gross floor area of 10,138.5 square metres.
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