Table of Contents
Overview
ABOUT THE EN BLOC SALES
The Chancery Court en bloc was launch into tender last March 2018 with an asking price of $370 million. This property seeks for potential buyer that will surely benefit much in the tender. Chancery Court marketing agent OrangeTee Advisory launched this majestic residential en bloc hoping to find a developer that will be able to redevelop the site into a remarkable property.
The Chancery court en bloc is located at District 11, this property is comprised of 136 units of residence and 8 units of commercial spaces. These units are enclosed in a 7 blocks of 4-storey maisonettes and a block of 16-storey tower. It has an approximate site area of 259,134 square feet.
OrangeTee Advisory sold this en bloc to Far East Organization at a staggering amount of $401.78 million. The 99-year leasehold property is sold 6% higher that its reserve price. The price translates to a $1,610 per square foot per plot ratio with a $182.4 million top premium on its lease. The commercial unit owners received an estimated amount between $934,000 to $4.7million while residential unit owners will have about $1.8 million to $3.7 million each.
CHANCERY COURT LOCATION
Chancery Court is situated in a very nice and serene location in District 11. This property is close to one Singapore’s tourist destination, Singapore Botanic Gardens. This address along Dunearn Road is very much attractive to developers as it offers great potential for a new development.
Enclosing the property is a good number of different routes including the Pan Island Expressway (PIE). Commute to your chosen location through MRT stations which offer great accessibility to different parts of the area. Some of the stations nearby are Little India MRT, Mount Pleasant MRT and Stevens MRT.
Leisure amenities including shopping malls are within the close destination to the address. Some of these malls are the Gold Hill Shopping Centre, Balmoral Plaza and Far East Plaza. Enjoyable nature parks are also within a short distance like the Fort Canning Park.
Reputable schools are surrounding the area which allow the residential community to acquire the kind of educational service they prefer for their family. Schools such as Anglo-Chinese School (Primary), ISS International School and Singapore Chinese Girls’ School are just among the long list of institutions nearby.
MODE OF TRANSPORT
- Somerset MRT
- Mount Pleasant MRT
- Newton MRT
- Little India MRT
- Stevens MRT
- Orchard MRT
- Pan Island Expressway (PIE)
- Dunearn Road
NEARBY AMENITIES
- Gold Hill Shopping Centre
- Far East Plaza
- Balmoral Plaza
- Anglo-Chinese School (Primary)
- Singapore Chinese Girls’ School
- Thomson Medical Centre
- Singapore Botanic Gardens
- Newton Food Centre
- Tekka Centre
- Whampoa Hawker Centre
POTENTIAL OF THE SITE
This en bloc site at 36 Dunearn Road which is in District 11. The property has a land size of 259,134 square feet and is zoned for residential use and has an allowable gross floor area of 362,788 square feet. Which means the redeveloped property will be able to yield a 481-unit residential in 5-storey building. This future development can have an average floor size of 70 square meters. The new development of this property is still subject to the approval of Strata Title Board.
The site have a very promising future due to its location which is just a few minutes of drive to some of the prestigious tourist destinations in the area. The accessibility to this address is very good and just a hand’s reach to public transport services.
Though there are cooling measures on the property market in 2018, there is an excellent potential for new developments to be successful as there is a buyer influx both from foreign and local buyers.
CHANCERY COURT NEW CONDO REGISTRATION OF INTEREST
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Chancey Court
The Chancery Court en bloc was launch into tender last March 2018 with an asking price of $370 million. This property seeks for potential buyer that will surely benefit much in the tender. Chancery Court marketing agent OrangeTee Advisory launched this majestic residential en bloc hoping to find a developer that will be able to redevelop the site into a remarkable property.
Product SKU: Chancey Court
Product Currency: SGD
Product Price: 401780000
Product In-Stock: InStock
