Mayfair Gardens up for en bloc sale
Dec 22, 2009 - PropertyGuru.com.sg
There are more signs of life in the en bloc market, with owners of Mayfair Gardens located in Rifle Range Road being the most recent to put their estate up for sale.
Mayfair residents want $210 million or more for their 99-year leasehold plot, which accounts to around $857 per square foot of potential gross floor area.
That would permit owners of the development with 124 units to earn between $1 million and $2.1 million each, depending on the unit’s size.
In March, only about 80 percent of owners supported a sale but they preferred to hold back until the market starts to pick up prior to their launching.
Their price tag of $210 million also includes the topping of the site's lease to 99 years and an estimated development charge of $40 million.
The marketing agent for Mayfair Gardens is CKS Property Consultants, which also brokered the collective sale of Dragon Mansions.
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