Table of Contents
ABOUT THE EN BLOC SALES
Goodluck Gardens en bloc is wholly comprised of 210 units of condominium residence that are well situated in District 21. The property is built back in 1984 and since made an exceptional impact on the residential experience in the area. The property holds a freehold tenure which is why it gathers a large interest from developers when it went into a collective sale.
The collective sale was launched at the end of January. Before the tender closes on March, more than 80% of the current owners have agreed on the sale. The bidding war has been very competitive according to sources. The top bidder among the lot is the renowned Qingjian Group.
With an original price of $550 million, the owners bagged the deal with a 10% higher price. The sale closed at %610 million making the owners be able to pocket an exemplary amount between $924,000 and $3.51 million. This price range translates to a notable amount of $1,210 psf ppr.
The number of bidders was undisclosed but according to sources, a good number of developers have shown interest and joined the bidding war to acquire the en bloc site.
The Goodluck Gardens en bloc is also the third highest collective sale that has been listed along with Pearl Bank and Park West with $728 million and $841 million respectively.
GOODLUCK GARDEN LOCATION
The site is well connected by Beauty World MRT. This station along with the number of bus hubs nearby offers the great comfort of travel to the residents. The area is also enclosed by Jalan Anak Bukit, Pan Island Expressway (PIE).
The sports complex within the distance provides an outdoor area that allows residents to enjoy and do their outdoor activities with less hassle. Ngee Ann Sports Complex and Swiss Club Singapore are among the nearby parks.
Shopping malls that are utterly satisfying are The Grandstand, Bukit Timah Shopping Centre, Beauty World Centre, and the Rail Mall. The property is also within a short drive to the Bukit Timah Nature Reserve which can be reached within 5 minutes of drive from the residence.
The schools which have a high reputation in the industry are within a few minutes of drive from the property. Schools which include GESS – Junior School Campus, Dimensions, Pei Hwa Presbyterian Primary School, Ngee Ann Polytechnic, Methodist Girls’ School and Singapore Korean International School.
The link to these amenities is via the Pan Island Expressway (PIE), Upper Bukit Timah Road, Anak Bukit Flyover and Dunearn Road. The MRT stations close to the property are Beauty World MRT, King Albert Park MRT, and Sixth Avenue MRT.
The iconic Merlion and Singapore Botanic Gardens are also within close proximity to the property.
MODE OF TRANSPORT
- Sixth Avenue MRT
- Beauty World MRT
- Pan Island Expressway (PIE)
- Tay Junction
- Hwa Chong Swimming Complex
- Bukit Timah Nature Reserve
- Merlion Sports City
POTENTIAL OF THE SITE
The Goodluck Gardens is an amazing site where a 210-unit that include 2 commercial spaces and 208 residential units measures a good 360,139 square feet in land area. This property has a potential to yield a promising residential development that will soon shelter the property-seekers from the hustle and bustle.
The gross floor area of the redevelopment can measure up to 504,182 square feet. Being a freehold site, the developers have avoided the development fee thus the price translates to $1,210 psf ppr.
With this price upon acquisition, there is an excellent possibility that the upcoming development will have a competitive price for its units.
The location of the property, if taken into consideration can yield an attractive sale for its units. With a high possibility of rental yield on the side, the future property-investors on the unit will surely have an exceptional benefit and will have a worth-it value.
GOODLUCK GARDEN NEW CONDO REGISTRATION OF INTEREST
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