Located in Sunset Way, Brookvale Park now belongs to Hoi Hup Realty and Sunway Development. Brookvale Park Enbloc Price accumulated a total of S$530 via collective sale. Note that both Sunway and Hoi Hup acquired this property as a joint venture. Statistics indicate that this is one of the many collective sales of late based on a private treaty after unsuccessful public tenders. In the recent past, Singapore has had a surge of collective sales.
Ki Residences Enbloc Prices
It’s worth noting that that selling of this condo was the 3rd try. There were two previous attempts which were done in 2011 and 2013 respectively. However, the submitted tenders were not enough and they ended up being closed unsuccessfully. Brookvale Park is a property which has a 999-year leasehold. Its size has been zoned specifically for residential use. The condo which was constructed in the 1980s contains 160 units. However, it’s expected to be redeveloped and turned into a new residential development with around 12 stories.
Total Collective Sale Price for Ki Residences former Brookvale Park Enbloc
From the S$530 Collective Sale deal, the new property owners paid almost $932 psf-ppr. This condo had a breakeven price ranging from S$1,480 to around S$1,500 psf. It’s also important to take into account around S$26 million which is supposed to cater to land development. This means that the sellers of this condo ended up pocketing between S$2.5 and S$4.4 million on an individual basis. All of this is based on the information provided by the marketing agent. Ki Residences launching price will be available soon and the prices will be announced soon.
According to the Chairman of Hoi Hup Realty, Wong Swee Chun, this is the biggest joint venture which the company has taken part in a span of 11 years. According to him, the condo’s location makes it perfect for the development of residential units. Wong added that Brookvale Park en bloc is located in a rare piece of land which is distinctly surrounded by lush greenery. In addition to that, the Sunset Way enclave location is specifically designed for private residential properties and 2-story bungalows.
Ki Residences Launching Price
Note that the Collective Sale was agreed upon by over 80 percent of the owners. By the end of 2017, this property had a collective sale tally of around S$3.14 billion. The increasing demand for premium residential properties meant that the collective figure was expected to be higher in the subsequent year. Brookvale Park en bloc’s site is a vibrant area that’s a short distance from Bukit-Timah Nature Reserve and Holland Village. It’s also in close proximity to various learning institutions such as NUS, Singapore Polytechnic, and Ngee Ann Poly among others. The prime location definitely offers value for money. Ki Residences launching price is not available yet. Please kindly register to receive the latest updates.