Serangoon Ville up for collective sale

Expected offers range from $400m to $430m.

A former Housing and Urban Development Company estate at Serangoon Avenue North that has been privatised in 2014 is now up for sale.

Serangoon Ville sits on a land area of 296,913 square feet with a plot ratio of 2.8. The estate comprises three blocks of 13-storey and four blocks of four-storey walk-up apartments. It consists of 244 units.

ERA Realty Network Singapore division director Stanley Koo said that more than 80% of the subsidiary proprietors of Serangoon Ville by share value and strata area have signed the Collective Sale Agreement.

The owners are expecting offers in the range of $400-430m, a total estimate of $200-220m for intensification of the site and top-up to a fresh 99-year leasehold.

Each unit is expected to receive a sale proceed ranging from $1.6-1.7 million from the sale. Serangoon Ville has 69 years left on its lease.