Park View Mansions acquired enbloc for $260m

The property will be turned into a residential development.

Chip Eng Seng Corporation Ltd. through its subsidiary, CEL Development Pte. Ltd., together with its joint tenderers, Sing-Haiyi Pearl Pte. Ltd. and TK 189 Development Pte. Ltd. has successfully acquired Park View Mansions through an enbloc acquisition for $260m.

Park View Mansions consists of four 10-storeys residential blocks with a total of 160 apartment units and has a tenure of 99 years leasehold from 1 October 1976. It is located at Yuan Ching Road, adjacent to the Jurong Lake Gardens and within the Jurong Lake District. 

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Park View Mansions is also located within walking distance to Lakeside and Chinese Garden MRT stations along the East-West Line. The property is also connected to the Jurong and one-north regional hubs, which are within a 10 to 15 minutes drive away via major highways such as Ayer Rajah Expressway and Pan Island Expressway. The Property also lies within proximity to local and international education institutions such as Rulang Primary School and Canadian International School (Lakeside Campus).

It has a land area of 17,834.8 square metres with a permissible plot ratio of 2.1. 

The property will be turned into a residential development with up to 440 residential units, Chip Eng Seng said through a press release.