CBRE relaunches Kensington Park for collective sale at $1.28b

The public tender for the property will close on 22 February at 3 p.m.

Kensington Park has been relaunched for sale for the third time via public tender at an unchanged reserve price of $1.28b.

The public tender for Kensington Park will close on 22 February 2023 at 3:00 p.m.

CBRE, the property’s sole marketing agent, said Kensington Park’s unit land rate is S$1,444 psf ppr or S$1,407 psf ppr, with a 7% bonus balcony; 

“This is inclusive of an estimated Land Betterment Charge (LBC) of about $273m,” added CBRE.

The 314-unit development, located at 2,4,6,8,10,12 Kensington Park Drive, sits on a 491,000 sq ft plot with a rectangular layout with two entrances – one at Kensington Park Drive and another along Serangoon North Avenue 1.

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.