Knight Frank launched the sale of Dunearn Gardens, a high-rise residential redevelopment site, and are now expecting offers of at least S$488.8m. The property has a site area of 8,867 sq m, and is located 100 meters from Newton MRT.
Dunearn Gardens has three adjoining residential blocks of 114 units, ranging from 75 to 306 sq m each unit.
An additional development fee of S$35.7m will be charged payable to the State to maximize the permissible gross floor area (GFA), which amounts to a land rate of $1,962 per square foot per plot ratio (psf ppr). Though still subject to the authorities’ approval, the buyer can enjoy a 10% bonus balcony GFA, lowering the price to S$1,861 psf ppr.
The tender will close on February 13, 2018 at 3:30 pm.