Gloria Mansion in Pasir Panjang up for collective sale at $79m

It is a 12-storey apartment with 31 units and has a total strata area of 36,317.4 sqft.

The freehold Gloria Mansion in 292 Pasir Panjang Road is up for en bloc sale for $79m. Its tender will close at 3 pm on 26 July 2018, Huttons Asia revealed.

According to an announcement, the residential building is within a five-minute walking distance to Haw Par Villa MRT Station. It is also near the Central Business District and to major roads including West Coast Highway and Ayer Rajah Expressway.

Located in District 5’s secluded hilltop with a sea view, the residential property has a site area of 45,742.27 sqft and a potential gross floor area (GFA) of 64,039.18 sqft. Gloria Mansion has 12 storeys comprising of 31 units, with a total strata area of 36,317.40 sqft, a historical baseline of 74,744.52 sqft and an effective plot ratio of 1.634.

“The existing 12 storey building can be kept (subject to approval) and the site can be developed into about 84 condominium units averaging at about 753.474 sqft each. Subject to approval, it is possible to have a 10% balcony space added, thus increasing the area to 6,544.38 sqm or 70,443.09 sqft,” Huttons Asia said.

The real property firm noted that there is no development charge for the property as its existing baseline is above the current plot ratio of 1.4 as shown in the Master Plan 2014, including the additional 10% balcony space up to the plot ratio of 1.54.