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Pearlbank Apartments and Parkway Mansion attempt another collective sale


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SINGAPORE: Pearlbank Apartments and Parkway Mansion will be place up for collective sale in separate tenders on Thursday (Nov 16), said Colliers Global in a push release.

It is the fourth and 3rd attempt at en bloc respectively for every single residence, the news release included. 

The tenders appear amid a surge in en bloc income this 12 months.

Running Director at Colliers Global Tang Wei Leng said the firm expects the two tenders to entice the fascination of the two “local and international developers” amid the “strong need for improvement web-sites through the Federal government Land Sales programme and the collective sale market”.

The house owners of the 37-storey Pearlbank Apartments at Pearl Bank Road have established a reserve cost of S$728 million for the making, said Colliers, the sole agent for the collective sale. 

This interprets to a land value of about S$one,505 psf per plot ratio, right after factoring in an upgrading high quality of close to S$195 million for the lease top-up.

Pearlbank Apartments comprises 280 household and 8 professional units. Homeowners will stand to get amongst S$one.eight million and S$4.9 million for their units, which fluctuate amongst one,323 to 3,993 sq ft.

The professional house owners, whose device dimensions variety from 700 to 5,630 sq ft, could possibly get S$one.2 million to S$6.9 million.

The tender for Pearlbank Apartments will near on Dec 19 at 3pm.

Parkway Mansion. (Picture: Colliers Global)

The 32-device freehold improvement Parkway Mansion at Amber highway has an indicative cost of S$138 million. This excludes an approximated improvement cost of about S$21 million.

Taken jointly, the indicative cost and the improvement cost interprets to a land price of S$one,454 psf per plot ratio. This compares favourably towards the land price of S$one,515 psf per plot ratio for Amber Park, said Colliers.

Based on the dimensions of their residence, every single owner could get amongst S$4.2 million and S$4.4 million in gross proceeds from the sale. Apartment dimensions at the 17-storey improvement variety from one,819 to one,948 sq ft.

The tender for Parkway Mansion will near on Dec 13 at 3pm.

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