A subsidiary of luxury residential developer, Brownstone Pte Ltd, has successfully en bloc Jervois Gardens through a collective sale at S$72 million. The price works out to be about S$1,511 per square foot per plot ratio (psf ppr) for the 34,038-sq-ft freehold site.
Under the Urban Redevelopment Authority’s Master Plan 2014, the site is zoned under residential use. The site has a plot ratio of 1.4. The unit land price works out to about S$1,373 per square foot per plot ratio after taking in account of an additional 10% gross floor area for balconies. The sale is subject to the approval of the Strata Titles Board.
The tender for the site was closed on Sept 26, attracting a total of eight bids.
Jervois Gardens comprises of two low-rise blocks of 14 maisonettes and three apartments. It is located at 30F and 30G Jervois Road. Each owner can potentially receive between S$3.3 million and S$4.5 million depending on the size of the units.
The site can be built up to a total Gross Floor Area of about 52,419 sq ft. It is located between the Redhill MRT Station and the future Great World City MRT Station. It is close to the nearby park connector. 50 to 70 homes are likely to be developed.