A Successful En-Bloc in Mayfair Gardens
Brought to You by Oxley Holdings
A Brand New Development,
Coming your way, with
an exclusive of potential 380 apartments,
300m to King Albert Park MRT Station
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More Information and Updates!
Located in the Central Region of Singapore, Mayfair Gardens, along Dunearn Road and bounded by Rifle Range Road, was sold to Oxley Holdings, Lian Beng Group for S$311 million. 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 (psf ppr). The estimated breakeven amount is likely to be around S$1780 psf.
The site at Mayfair Gardens is in a private estate surrounded by landed homes, private condominiums. The owners of the 124 units comprising of 6 blocks development, each got an between S$1.7 million and S$2.89 million.
New Condo at King Albert Park MRT Station- Connectivity
New Condo is about 300 m away from King Albert Park MRT Station, serving the Downtown Line Station. It is centrally located location and will take around 10 minutes to drive to Orchard Shopping District and 17 minutes’ drive to the Central Business District (CBD). New Condo at Mayfair Gardens is also next to the Pan Island Expressway (PIE) which connects drivers to all parts of Singapore.
New Condo at King Albert MRT Station- Education
New Condo at King Albert MRT Station is close to local schools such as Pei Hwa Presbyterian, Methodist Girls’ School, Nanyang Primary School, Bukit Timah Primary School. New Condo at King Albert Station is near to tertiary education facilities such as the Ngee Ann Polytechnic and the SIM University. There are also international schools that are close to it such as Swiss School, Hollandse School and German European School.
New Condo at King Albert MRT Station- Amenities
Future residents will find lots of conveniences living at New Condo at King Albert MRT Station as the retail, dining, and entertainment facilities at KAP. For more options, the Bukit Timah Plaza, Beauty World Centre, Beauty World Plaza, Bukit Timah Shopping Centre and The Grandstand are just within its vicinity.
For local delights, New Condo at King Albert Park MRT Station residents will find many famous local cooked food stalls the Bukit Timah Market and Food Centre is just round the corner which is about 500 m away. There are also 94 market stalls available at Bukit Timah Market and Food Centre which New Condo at King Albert Park MRT Station residents can get their wet and dry market produce and also their basic necessities.
For golf lovers, New Condo at King Albert Park MRT Stationis just a short drive away from Green Fairways Golf Course, a 9 hole public course which is located near to Holland Village. There is also a 60 bay golf range at Green Fairways itself for golfers to practice their driving skills. New Condo at King Albert MRT Station residents can also take up gun shooting at the nearby Singapore Gun Club. New Condo at King Albert Park MRT Station residents can take a short drive down to the Bukit Batok Nature Park when in need for a moment of peace and serenity whilst enjoying the lush greenery and also the scenic pond located at the park.
The site of New Condo at King Albert Park MRT Station has a central location being in the Central Region of Singapore, with good connectivity, proximity to good schools and lush greenery around make excellent choice for own-stay.
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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 | Condo comprising of communal facilities |
Unit Type: | |
Architect | |
Eligibility | SC/ SC, SC/SPR and Foreigner can buy |
Category | Important Amenities New Condo at Rifle Range Road, former site of Mayfair Gardens | Approximate Distance |
Train Stations | King Albert Park MRT Downtown Line Due 2015 | 0.4km |
Bus Stop | King Albert Park (Bus: 66, 67, 74, 77, 151, 154, 157, 170, 171, 174, 563, 852, 961, 970) Aft King Albert Park (Bus: 52, 61, 74, 75, 151, 154, 184) Opp Bukit Timah Plaza (Bus: 52, 61, 66, 67, 75, 77, 157, 170, 171, 173, 174, 852, 961C, 970 |
0.1km 0.1km 0.3km |
Supermarkets | Shop N Save Giant Cold Storage |
0.7km 1.5km 1.8km |
Shopping Malls | Bukit Timah Plaza Beauty World Centre Beauty World Plaza Bukit Timah Shopping Centre The Grandstand |
0.2km 0.7km 0.7km 0.8km 1.5km |
Education Institutions | Preschool | |
Nurturing Roots Montessori Preschool Glory Kindergarten PCF Bukit Timah Blk 12 Creative Thinkers Kindergarten Montessori Children’s House Kindergarten The Little House (Montessori) Kindergarten Swallows And Amazons Kindergarten |
0.3km 0.5km 0.8km 1.0km 1.3km 1.5km 1.5km |
|
Primary | ||
Pei Hwa Presbyterian School Methodist Girls’ School Nanyang Primary School Bukit Timah Primary School |
0.4km 0.5km 1.1km 1.5km |
|
Secondary | ||
Nanyang Girls’ High School | 2.6km | |
Junior College | ||
Hwa Chong Junior College National Junior College |
2.9km 2.9km |
|
Tertiary/Postgraduate | ||
Ngee Ann Polytechnic UniSIM |
0.7km 0.9km |
|
International | ||
Swiss School Hollandse School German European School |
1.4km 1.5km 1.8km |
|
Food Centre | Bukit Timah Market & Food Centre | 0.5km |
Lifestyle | Singapore Gun Club Swiss Club The British Club Green Fairways Golf Course Bukit Batok Nature Park |
0.9km 1.4km 1.7km 2.1km 2.2km |
The Facilities and Site plan of new condo launch at the former site of Mayfair Gardens, walking distance to King Albert Park MRT Station are currently seeking approval from relevant authorities.
If you would like to be updated on first hand information for new condo launch in Rifle Range Road, Please
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SINGAPORE - 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 & Secondary schools and Hwa Chong Junior College, and is a 300m walk 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 (psf ppr), said marketing agent Knight Frank in a statement on Sunday (Nov 19).
The public tender for Mayfair Gardens was launched on Oct 23 with a reserve price of $265 million and closed on Nov 16, 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.
Source: Straits Times 19th November 2017
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