Serenity Park, a 179-unit condominium off Yio Chu Kang Road, has been launched for collective sale with an asking price of $505 million.

The development, completed in 1995, comprises 10 five-storey blocks on a 248,173 sq ft freehold site. Under the Urban Redevelopment Authority (URA) Master Plan 2025, the site is zoned for residential use with a plot ratio of 1.4 and a height limit of up to five storeys.

The asking price translates to $1,453 psf per plot ratio (psf ppr), says Dillion Loi, director of Mount Everest, the marketing agency handling the collective sale. The tender closes on March 26.

Read also: Frasers Property bags The Centrepoint rear plot for $391.9 mil in en bloc sale

Based on an assumed average unit size of 85 sq m (915 sq ft) for new non-landed projects in the Outside Central Region (OCR), the site could potentially be redeveloped into a low-rise condominium with about 380 units.

The most recent transaction at Serenity Park was recorded in January 2025, when a 1,313 sq ft three-bedroom unit on the second floor changed hands for $1.77 million, or $1,348 psf, based on caveats lodged.

Serenity Park is located along Tamarind Road within a landed housing enclave comprising predominantly semi-detached homes. It is also near the landed estates of Saraca, Begonia and Mimosa.

Recent housing transactions in the vicinity provide pricing benchmarks. In January, a freehold semi-detached house at Saraca View, sitting on a 4,406 sq ft site, was sold for $5.82 million ($1,321 psf).

In December, a 99-year leasehold semi-detached house along Begonia Walk (with a lease commencing in 1994), on a 2,387 sq ft site, was transacted at $3.3 million ($1,443 psf).

Meanwhile, a freehold semi-detached house along Tamarind Road, on a 4,271 sq ft site, was also sold for $5.82 million, or $1,363 psf.

Read also: Tan Boon Liat Building launches second collective sale tender at reduced price of $1 bil

Check out the latest listings for Serenity Park properties