Kensington Park in Serangoon Garden relaunched for sale
The site has a guide price of $1.28b.
The Kensington Park situated at 2,4,6,8,10,12 Kensington Park Drive was relaunched for sale by public tender.
The public tender will close on 18 November at 3 p.m.
The site has a guide price of $1.28b. Including the Land Betterment Charge (LBC) of $209.8m, the price will work out to be approximately $1,444 per square foot per plot ratio.
Taking into consideration the 7% bonus gross floor area allowed for balconies and an LBC payable of $273.1m, this translates to a lower S$1,407 per square foot per plot ratio.
CBRE, its sole marketing agent, said the 314-unit development located within Serangoon Garden sits on a 491,000 sq ft rectangular plot, making it one of the largest 999-year leasehold residential land sites available in Singapore.
Under the 2019 Master Plan, the site is zoned “Residential” with an allowable gross plot ratio (GPR) of 2.1 and a building height control of up to 24 storeys.
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