Singapore’s en bloc sales market is gaining speed, with the launch of Kovan Court (pictured) and Bartley Grove Apartment along with three adjoining terrace houses for sale at a total price of approximately S$104 million.
The first site, Kovan Court, is situated along Kovan Road and has an indicative price of S$29 million, which works out to around S$795 psf ppr. It has a total site area of 26,050 sq ft with a maximum gross floor area (GFA) of 36,470 sq ft and a gross plot ratio of 1.4.
The property comprises 16 apartment units housed in a four-storey building. Sizes of the units range from 1,475 sq ft to 1,744 sq ft.
According to the property’s marketing agent, Remax, each owner is expected to receive between S$1.75 million and S$1.91 million. It added that a 996 sq ft site in front of Kovan Court is expected to be amalgamated when the site is redeveloped.
As for Bartley Grove Apartment, it is a 25-unit residential development located along Bartley Road. Marketing agent Credo Real Estate said the site was launched for sale along with the three adjoining terrace houses (No 25, 27, and 29 Bartley Road) for a combined asking price of between S$73 million and S$75 million.
Tan Hong Boon, Deputy Managing Director of Credo, said the total price tag for the properties translate to around S$726 psf ppr to S$746 psf ppr, inclusive of the extra 10 percent GFA for balcony space.
The freehold site has a combined land area of around 65,305 sq ft and is zoned for residential development with a gross plot ratio (GPR) of 1.4 under the 2008 Master Plan.
“Due to the high development baseline, no development charge is payable for redevelopment up to a GPR of 1.54, including the extra 10 percent GFA allowed for balconies,” added Tan.
Taken separately, Bartley Grove has a total land area of 55,286 sq ft with an asking price of between S$62.35 million and S$64.04 million. Meanwhile, the three terrace houses have a total area of 10,019 sq ft and an indicative price of between S$10.65 million and S$10.96 million.
The tender for both sites will close on 21 March 2012.
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