Table of Contents
Overview
ABOUT THE EN BLOC SALES
Mayfair Gardens has been a home to a 124-unit residence. The site has been on open for public sale since October 23rd and closed in November 16th the previous year. The tender receives a competitive bid from various developers which is topped off by the reputable Oxley Holdings Pte Ltd. They have acquired the site for a bid amounting to $311 million. Included in the price is the $52 million refresher for the 99-year leasehold.
The site possessed a land area measuring 19,368 square meters which allow it to house units averaging between 100 to 200 square meters. Zoned as a residential area on the 2014 Master List, the area is expected to have about 387 units with an average of 70-100 square meters per unit when it is redeveloped.
More: New Condo Name remain as “Mayfair Gardens“
The Oxley Holdings Pte Ltd is expected to build a residence that is fully equipped with the essential facilities that the future occupants will find convenient for their daily living. Aimed to be one of the iconic development in the area, the future residence will surely get plenty of prospective buyers in the future.
MAYFAIR GARDENS LOCATION
This area in District 21 known to be the home of Mayfair Gardens is surrounded by various conveniences and essential shops for the resident’s enjoyment. The reputable schools are only within a few minutes drive away which include the Hwa Chong Institution High School, Ngee Ann Polytechnic, Nanyang Girls’ High School, GESS Main Campus, SIM Global Education and Singapore Polytechnic.
Different shopping malls, supermarkets as well as convenience stores are within a few kilometres away from the property. Some of these businesses include Cold Storage, The Grandstand, 7-Eleven, Cheers, Bukit Timah Shopping Centre and The Star Vista.
Local hospitals can be found within about 5 kilometres from the property. Institutions such as Jurong Community Hospital and Ng Teng Fong General Hospital offers an excellent health care services to residents.
The property is bordered with various public transports such as bus hubs and MRT stations. This ensures that the residents will have the comfort of travel. Stations like Tan Kah Kee MRT, Sixth Avenue MRT and King Albert Park MRT are within the immediate vicinity. Bus hubs from different directions let the residing community reach their destination hassle-free.
Various routes like the Bukit Timah Expressway (BKE), Clementi Road, Pan Island Expressway (PIE) and Dunearn Road links the property to rest of the country.
| Mode of Transport | - King Albert Park MRT - Sixth Avenue MRT - Pan Island Expressway (PIE) - Bukit Timah Expressway (BKE) |
| Nearby Amenities | - Beauty World Centre - Bukit Timah Shopping Centre - The Grandstand |
| Nearby Schools | - Ngee Ann Polytechnic - Methodist Girls School - Hwa Chong Institution High School - SIM Global School |
POTENTIAL OF THE SITE
The site of Mayfair Gardens is seen to be with great potential. Aside from having a capacious 19,368 square meters land area, the property can yield about 387 units. The units will have a floor area average of about 70-100 square meters making it possible for the future inhabitants to live comfortably like they truly deserve.
Acquired at a $311 million price by the Oxley Holdings Limited, the future units in this plot is estimated to be priced at about $1,800 per square feet and beyond. Property experts forecasted that the break-even price may reach an approximate amount of $1,600 per square feet.
The property is close to numerous amenities and it gives an excellent potential to get the units sold at an unexpected pace. The property’s proximity to the different nature parks gives in a more inviting and refreshing ambience compared to the city vibes of most residential homes.
Additionally, the property offers tranquility within the neighbourhood as well as ease of access to the majority of necessary establishments within the area. Reputable schools are within a few kilometres as well as shopping malls that most property-seekers look for in a property.
Investors will find the property a worthy one as it possess a high rental yield and an opportunity for an excellent capital appreciation.
MAYFAIR GARDENS NEW CONDO REGISTRATION OF INTEREST
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