Enbloc News: Bartley Grove Apartment sold for $74 million

Bartley Grove Apartment, together with three adjoining terrace houses at Bartley Road have been sold for $74.1 million to a subsidiary of Singapore-listed Top Global.

Located in District 19, the combined freehold site has a land area of 65,305sqft with a gross plot ratio of 1.4 and an allowable height of up to five storeys.

Marketing agents Credo Real Estate said the sale price translates to a unit rate of approximately $810psf ppr.

Each of the owners in Bartley Grove Apartment is expected to receive between $1.25 million and $3.24 million.

Credo Real Estate's Deputy Managing Director Tan Hong Boon said: "This is the first en bloc site sold this year for a condominium development. Most of the other five sites sold this year are zoned mixed use or commercial."

"The six en bloc sites sold in the first quarter of 2012 amounted to $456.6 million, which registered the lowest volume over the last seven quarters," added Mr Tan.

Source: Channel News Asia

Click on link below to read our previous post about this collective sale:
http://sgproptalk.blogspot.com/2012/02/enbloc-news-bartley-grove-apartments.html

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Enbloc News: Bartley Grove Apartments

A 25-unit residential development, Bartley Grove Apartments, along with three adjoining terrace houses located along Bartley Road have been put up for en bloc sale.

Marketing agent Credo Real Estate said the 65,305-square-foot site could fetch between $73 million and $75 million, with no development charge payable.

The prices reflect land rates of about $798 to $820psf ppr, with a gross plot ratio of 1.4.

Including an extra 10% Gross Floor Area (GFA) for balconies, the land rates could come up to $726 to $746psf ppr.

Credo said the combined site would allow a new development of about 100,570sqft of GFA to be built, with 115 apartment units at an average size of 800sqft, depending on layout and configuration.

The tender closes at 2.30pm on March 21.

Source: Channel News Asia

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