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ABOUT THE EN BLOC SALES
Jervois Green has been listed in the en bloc sale last November 7, 2017. The plot is launched at $48 million minimum selling price. The property which is a 4-storey apartment building that stands in a land area measuring about 27,356 square feet.
During its launched, it has received 6 interesting bids from various developers and investors who see the site to have a promising potential to be a home to an exceptional residential development. The tight offers do not only demonstrate the pricing agreement on the area but also indicates a positive approach from bidders on the comeback of residential developments, Colliers International managing director, Ms. Tang Wei Leng mentioned.
The winning bid comes from the group of investors led by the renowned restaurant proprietor Mike Ho. The bid comes to an end with a price of $52.9 million when the tender sale closed on December 5, 2017. The bid is seen to be 10% higher than it’s original price and includes the development charge amounting to $6.95 million.
Having been in a sole-ownership, the property is expected to have an easy turnover as it wouldn’t need to go through the Strata Title’s Board or High Court’s approval.
With a wide site area, Jervois Green is expected to be one of the iconically redeveloped sites in the area of District 10 which also features Jervois Mansion which is one of the most promising properties in the area by the renowned Kinmen Realty Pte Ltd.
JERVOIS GREEN LOCATION
District 10 has been under great progress in the past years. The area for Jervois Green has an address at 100A Jervois Road, Singapore. The surrounding area presents an abundant list of lavish amenities that provides excellent leisure activities to the surrounding residential occupants. Topping the list are shopping malls that include Great World City, Alexandria Retail Centre, Valley Point, Robertson Walk and EU Square. Parallel to these malls are dining amenities such as Zion Riverside Food Centre, Redhill Food Centre, The Sapling and Mr. Bean among the list.
Getting excellent quality education is at your fingertips as the area is within a short walk away from various schools. Commendable schools like Crescent Girls’ School, Alexandra Primary School, Avondale and Gan Eng Seng School are within 15 minutes walk from the residence.
A few more minutes of driving leads to various major offices which can be beneficial to both local and non-local residents. Embassies and other government establishments are just within reach.
With streets and avenues interlinking the property to the amenities, the residing community will find it very convenient and easy to access. Expressways like Ayer Rajah Expressway (AYE) and Central Expressway (CTE) aids to the convenience of travel for the residents.
MODE OF TRANSPORT
- Redhill MRT
- Ayer Rajah Expressway (AYE)
- Robertson Walk
- Delta Sports Complex
- Redhill Food Centre
- Valley Point
POTENTIAL OF THE SITE
The property is 27,356 square feet in land area. The group of property investors which is led by Mike Ho, a renowned restaurant proprietor, saw great potential on the site. They won’t the tender sale in an incredible amount of $52.9 million.
Jervois Green is listed and zoned as residential area on the 2014 Master List of the Urban Redevelopment Authority. It is predicted to house a potentially 5-storey residential development comprising of 42 units. An estimated floor area of 850 square feet is still conditional upon approval of proper authorities.
The units in the future development on Jervois Green is estimated to have a starting price of about $2.1 million which is around $2,500 per square foot. With this price, a lot of potential buyers and investors will surely get attracted to the development. It is within a few minutes drive from the Central Business District (CBD) making it more enticing as it is easily accessible to the various amenities.
Not only is Jervois Green easily accessible, but it also give a high potential for rental yield.
JERVOIS GREEN NEW CONDO REGISTRATION OF INTEREST
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Jervois Green has been listed in the en bloc sale last November 7, 2017. The plot is launched at $48 million minimum selling price.
Product SKU: Jervois Green
Product Currency: SGD
Product Price: 52900000
Product In-Stock: InStock