The en bloc sale exercise for the Laguna Park residential development site in District 15 closed yesterday, with its marketing agent Knight Frank still negotiating with an interested party, according to a Channel News Asia report.
The 33-year-old residential apartment was launched for sale on 23 May, with an indicative price of S$1.33 billion, which is 11 percent higher than the S$1.2 billion asking price in its first en bloc attempt in 2009.
The S$1.33 billion price tag translates to a land price of S$975 psf ppr, including the Differential Premium of approximately S$269 million and a lease top-up of around S$250 million.
If the tender is successful, homeowners can gain up to S$2.2 million each from the sale.
Built in the 1970s, the property comprises 516 units, of sizes ranging between 135 sq m and 313 sq m, as well as 12 commercial units with an average size of 152 sq m. It has a total site area of 62,941.2 sq m and is zoned for residential development with a plot ratio of 2.8, under the 2008 Master Plan.
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