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4 New Land Sites along Dunearn Road
Sold for Upcoming Condo Developments

Successful En-Bloc in
- Dunearn Gardens, - Chancery Court
- Mayfair Gardens and - Dunearn Court

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PROJECT DETAILS

 
 

Four parcel sites which are located at the Central Region of Singapore, were sold for New and Upcoming Condo developments in last quarters of 2017 and 2018, through collective sales.


The four former land sites namely,
- Dunearn Gardens,
- Chancery Court,
- Mayfair Gardens and
- Dunearn Court.

El Development submitted the top bid of S$468 million for Dunearn Gardens, this translates to 

A undisclosed developer submitted the top bid of S$401.77 million for Chancery Court

Oxley Holdings submitted the top bid of S$265 million for Mayfair Gardens

Roxy Pacific submitted the top bid of S$36.3 million for Dunearn Court


New Condo at Dunearn Road- Connectivity
New Condo at Dunearn Road is close to Botanic Gardens and Tan Kah Kee Train Station which operates the Circle Line. Its future residents will enjoy greater convenience when it comes to commuting. When it comes to driving, New Condo at Duneran Road is just 6 minutes away from Orchard and 14 minutes’ drive to the CBD. New Condo at Dunearn Road is also accessible to major roads such as Adam Road and Holland Road and also the PIE.

 

New Condo at Duneran Road- Education
New and upcoming oondo at Duneran Road is close to reputable schools such as Nanyang Primary School, Raffles Girls’ Primary, Singapore Chinese Girls’ School, St. Margaret’s Secondary School, Hwa Chong Insituation and National Junior College.


New Condo at Dunearn Road- Amenities
For retail options, New Condo at Dunearn Road is just walking distances to Serene Centre, King’s Arcade and Coronation Shopping Plaza. It is also near Adam Food Centre and Empress Market where many local delights can be found. New Condo at Dunearn Road is just a short drive away from Holland Village there are many bistros and dining outlets which serves up international cuisines.

 

For relaxation, New Condo at Dunearn Road’s future residents can take a stroll, jog or walk their dogs in the nearby Botanic Gardens on a lazy weekend or have a day of golfing at Tanglin Golf Course which is just a short drive away.

 

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First Hand Information

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Project  New Condo Dunearn Road at former site of Chancery COurt
Developer  To be announced
Location  Dunearn Road, Bukit Timah Road
District  11
Tenure  99 years leasehold
Site Area
GFA:
Plot Ratio
Expected TOP:
Total Units  Approximatley  residential apartments
Total Carpark
Development  Private Condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy
 
 
Project  New Condo Dunearn Road at former site of Dunearn Gardens
Developer  EL Development, Evan Lim Group
Location  Dunearn Road, Bukit Timah Road
District  11
Tenure  Freehold
Site Area  8,866.9 square metres/ 95,442 square feet
GFA:
Plot Ratio
Expected TOP:
Total Units  Approximatley  residential apartments
Total Carpark
Development  Private Condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy
 
Project  New Condo at Rifle Range Road at former site of Mayfair Gardens
Developer  Oxley Holdings
Location  Rifle Range Road, Duneran Road
District  11
Tenure  99 years leasehold
Site Area  19,368 square metres/  208,477 square feet
GFA:  27,114 square metres/291,861 square feet
Plot Ratio  1.4
Expected TOP:
Total Units  Approximatley 380 residential apartments
Total Carpark
Development  Private Condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy
 
Project  New Condo Dunearn Road at former site of Dunearn Court
Developer  Roxy Pacific Holdings
Location  Dunearn Road, Bukit Timah Road
District  11
Tenure  Freehold
Site Area  1,784 square metres/ 19,203 square feet
GFA:
Plot Ratio  1.4
Expected TOP:
Total Units  Approximatley  residential apartments
Total Carpark
Development  Private Condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy

LOCATION and AMENITIES

Amenities Near New Condo at Dunearn Road

Category Important Amenities Near New Condo at Dunearn Road Approximate Distance
Train Stations Tan Kah Kee Downtown Line
Botanic Gardens (CC19/DT9) Downtown Line

0.5km
0.5km

Bus Stop Opp Lutheran Twrs (Bus: 48, 93, 5N, 153, 165, 174, 186, 855, 961, 961C)
Lutheran Twrs (Bus: 153, 165, 174, 186, 855, 961, 961C, 48, 93)
Bef Crown Ctr (Bus: 66, 67, 74, 151, 154, 156, 157, 170, 171, 174, 852, 961, 961C)
0.1km
0.1km
0.2km
Supermarkets Cold Storage
Sheng Siong
Giant
0.2km
2.8km
2.9km
Shopping Malls Serene Centre
King’s Arcade
Coronation Shopping Plaza
0.2km
0.3km
0.4km
Education Institutions Preschool
Bibinogs Preschool
Little Oaks Montessori Kindergarten
Bibinogs Preschool (King’s Arcade)
Pibos Garden Preschool
My Montessori My World Kindergarten
Nanyang Kindergarten
Sunshine Kindergarten
Buttercups Montessori Kindergarten
Cherrybrook Kindergarten
0.2km
0.2km
0.3km
0.3km
0.8km
0.9km
1.8km
1.8km
2.0km
Primary
Nanyang
Raffles Girls’
Singapore Chinese Girls’
0.5km
1.2km
1.7km
Secondary
St. Margaret’s
Hwa Chong
Nanyang Girls’ High School
Singapore Chinese Girls’
0.4km
0.8km
1.5km
1.7km
Junior College
Hwa Chong JC
National JC
1.3km
1.4km
Tertiary
National University of Singapore (Bukit Timah Campus) 0.5km
International
Chinese International School 1.9km
Food Centre Adam Road Food Centre
Empress Market
0.3km
1.0km
Lifestyle Hollandse Club
Japanese Association of Singapore
Raffles Town Club
Singapore Botanic Gardens
National Orchid Garden
Tanglin Golf Course Country Club
1.1km
1.1km
1.5km
1.6km
1.6km
1.8km

FACILITIES and SITE PLAN

The Facilities and Site plan of new condo launch at Dunearn Road are currently seeking approval from relevant authorities.

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RESIDENTIAL FLOOR PLANS

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DUNEARN GARDENS SOLD EN BLOC FOR S$468 MILLION

1) The collective sale frenzy continues unabated as Dunearn Gardens, a 114-unit freehold residential development located off Newton Road, becomes the latest to be sold on its third attempt.

The sale was made to a fully owned subsidiary of EL Development - the property arm of building firm Evan Lim Group - for $468 million.

Dunearn Gardens comprises three adjoining residential blocks, with apartment units ranging from 75 to 306 sq m. Surrounded by Good Class Bungalows, landed homes, high-rise condominiums and a 150m walk away from Newton MRT station, it has a site area of 8,866.9 sq m, or 95,442 sq ft.

Each apartment owner will stand to receive a gross sale price of about $2.69 million to $7.98 million, said property consultancy Knight Frank in a news release.

EL Development is expected to incur a development charge of about $43.6 million to redevelop the site to a gross plot ratio of 2.8, based on the maximum permissible gross floor area of about 267,239 sq ft.

The sale price translates to a land price of about $1,914 per sq ft per plot ratio (psf ppr), said Knight Frank. Including a 10 per cent bonus balcony, which would raise the proposed plot ratio to 3.08, the land price would be about $1,841 psf ppr, though this is subject to the authorities' approval, it added.

EL Development managing director Lim Yew Soon said the group intends to redevelop the site into a 34-storey luxury condominium comprising 348 units which have between one and four bedrooms.

Mr Ian Loh, executive director of Knight Frank and head of investment and capital markets, said the new high-rise development will enjoy unobstructed views of the city.

"We believe the new development will appeal to owner-occupiers and investors, given its choice location right at the city fringe," he added.

Mr Petras Tsui, deputy chairman of the Dunearn Gardens collective sale committee, noted that this was the third attempt at a collective sale. He said he appreciated the strong support from fellow owners, consultants and lawyers along the way.

EL Development had in January also acquired Singtel's Hill Street site for $118 million, which it is planning to develop into a mid-to high-end business hotel with more than 300 rooms. Its last residential site purchase was from the government land sales programme in August 2015, which it is developing into the 752-unit condominium project Parc Riviera in West Coast Vale.'

Source: Straits Times

FORMER HUDC CHANCERY COURT SOLD THROUGH EN BLOC SALES

2) Privatized HUDC estate Chancery Court on Dunearn Road in prime District 11 was sold en bloc for $401.777 million. The price achieved was 6% above the reserve price of $390 million, according to marketing agent OrangeTee Advisory, which brokered the sale. Chancery Court has been a sought-after development among parents who want to register their children into Anglo Chinese School, given that the ACS Barker Road campus is located just across the road.
 
Including a differential premium and lease top-up premium of $182.4 million, the price translates to $1,610 psf per plot ratio. The 259,134 sq ft site can be redeveloped to a plot ratio of 1.4 and maximum gross floor area of 362,788 sq ft. This means it can be redeveloped into a new five-storey residential development with 481 units, based on an average size of 70 sq m.

The existing Chancery Court is made up of 136 residential and eight strata commercial units. Upon successful conclusion of the collective sale following Strata Title Board approval, owners of the residential units can expect proceeds of $1.8 million to $3.5 million. Meanwhile, the owners of the strata commercial units will walk away with $934,000 to $4.7 million, depending their unit size.

FORMER SITE OF MAYFAIR GARENS SOLD TO OXLEY HOLDINGS FOR CONDO REDEVELOPMENT THROUGH COLLECTIVE SALES

3) The collective sale market continues to thrive, with the latest being Mayfair Gardens, snapped up by listed property developer Oxley Holdings for $311 million.

The reserve price was $265 million.

Each owner stands to collect a gross sale price of around $1.7 million to $2.89 million once the deal goes through successfully.

The private residential estate is made up of six residential walk-up blocks with units ranging from 100 to 200 sq m and has a site area of 19,368 sq m.

Located off Dunearn Road, it is near schools such as Methodist Girls' Primary and Secondary, as well as Hwa Chong Junior College. It is about 300m from King Albert Park MRT station.

The sale price, with an additional lease top-up premium estimated at $52 million to top up the lease to a fresh 99 years, translates to a land price of about $1,244 per square foot per plot ratio, said marketing agent Knight Frank in a statement yesterday.

The public tender for Mayfair Gardens was launched on Oct 23 with a reserve price of $265 million and closed on Thursday, with owners of 105 of the 124 units - which accounted for more than 84 per cent of the total strata area - agreeing to the collective sale.

Mr Ian Loh, executive director and head of investment and capital markets at Knight Frank, said the new development could potentially house 387 homes of an average 70 sq m in size.

"At the sale price of $311 million, the breakeven price for the new project is estimated at $1,780 psf," he said.

Under the 2014 Master Plan, the site is zoned "Residential" with a gross plot ratio of 1.4, which allows redevelopment potential to reach up to a maximum permissible gross floor area of 291,865 sq ft.

Oxley said in a statement to the Singapore Exchange that the purchase will be funded by internal resources and bank borrowings.

Knight Frank has sold five collective sale sites worth a total of $1.8 billion in the last six months, including Normanton Park and Dunearn Court.

Source: The New Paper 19th November 2017

ROXY WON TOP BID FOR FORMER DUNEARN COURT CONDO SITE THROUGH EN BLOC SALES

4) Each owner at the 12-unit Dunearn Court will get about $2.91 million to $3.12 million, which works out to about $2,004 to $2,140 per square foot (psf).

The 19,203 sq ft freehold site, which was bought by Roxy-Pacific Holdings unit RH Central, has a gross plot ratio of 1.4.

The sale price, which carries a charge of about $550,000 to redevelop the site, translates to a land price of about $1,371 psf per plot ratio (ppr).

"The new development could potentially yield 35 new units of 70 sq m each," said Mr Ian Loh, executive director and head of investment and capital markets at Knight Frank, the marketing agent.

"It is situated within 500m from Tan Kah Kee MRT station and Botanic Gardens MRT station, close to the Singapore Botanic Gardens and schools including Nanyang Primary School and Nanyang Girls' High School."

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