- A freehold residential site in Prime District 10, off Tanglin Road -
Singapore, 6 November, 2017
– Leading global commercial real estate services firm, Colliers International (NASDAQ and TSX: CIGI), will be putting Jervois Green, located at 100A Jervois Road, up for sale by tender. The tender will be launched on 7 November and will close on 5 December 2017 at 3pm.
Jervois Green comprises a four-storey block with a total of eight apartments. The development currently sits on a freehold site that is regular in shape with a site area of approximately 27,356 sq ft.
Under the 2014 Master Plan, the site is zoned for “Residential” use with a plot ratio of 1.4. It has the potential to be re-developed into a five-storey development comprising 43 units of approximately 850 sq ft each, subject to approval by the relevant authorities.
Tang Wei Leng (邓慧玲), Managing Director at Colliers International, says, “Jervois Green is nestled in the prestigious Jervois/Tanglin low-rise private residential developments and good class bungalows area. The asking price for the subject property is in the region of SGD48 million, which works out to be SGD1,373 per sq ft (psf) per plot ratio (ppr), inclusive of the additional 10% Gross Floor Area for balcony and a development charge payable of approximately SGD9.865 million.”
Jervois Gardens, a collective sale site located 850 metres from Jervois Green, was recently acquired for SGD72 million, which also translates to SGD1,373 psf ppr at a plot ratio of 1.54 (inclusive of additional 10% Gross Floor Area for balcony). The selling price of newer projects in that area, which are largely leasehold, such as Mon Jervois, Principal Garden, The Crest, Alex Residence are in the region of SGD1,900 to SGD2,350 psf.
Tang adds, “Jervois Green is held under single-ownership and the sale is not subject to approval from the Strata Titles Board/High Court which offers developers shorter turnaround time to launch the new units for sale quickly.”
The subject site is strategically located off Tanglin Road, and is connected to other parts of Singapore via major expressways. It is also conveniently located near several MRT stations including Tiong Bahru and Redhill MRT stations on the East-West Line, as well as the upcoming Napier and Great World MRT stations on the Thomson Line (slated to open in 2021). Amenities are also easily accessible at the nearby Tanglin Mall, Valley Point, Great World City and numerous shophouses along River Valley Road.
For further information, please contact:
Wong Siew Ying, Associate Director
Marketing and Communications
Phone: +65 6531 8617
Mobile: +65 9745 3035