Collective sale of Goodluck Garden launched for $550 mil

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/ EdgeProp
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January 25, 2018 8:00 PM SGT
The freehold condominium Goodluck Garden on Toh Tuck Road is up for collective sale by tender, with a reserve price of $550 million. Including an estimated development charge of $63.2 million for the intensification of the site to the maximum gross floor area (GFA), this translates to a land rate of about $1,216 psf per plot ratio. Knight Frank Singapore is the exclusive marketing agent.
The condo comprises eight blocks with 208 residential units and two commercial shops. Unit sizes range from 1,023 to 1,959 sq ft, and the two shops are sized 323 and 980 sq ft respectively.
The development is situated on a 360,130 sq ft site and under the 2014 Master Plan is zoned for residential use with a gross plot ratio of 1.4. This translates to a maximum GFA of about 504,182 sq ft. A new development can potentially yield 669 new units with an average size of 753 sq ft, says Knight Frank.
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Goodluck Garden, a freehold residential development on Toh Tuck Road, has been put up for collective sale for $550 million (Credit: Knight Frank)
Goodluck Garden is surrounded by landed homes and other private condos such as The Beverly, Nottinghill Suites, The Creek @ Bukit, and the soon-to-be-launched Daintree Residences. It is near Pei Hwa Presbyterian Primary School and Bukit Timah Primary School, as well as Ngee Ann Polytechnic and the Singapore University of Social Science.
The property is served by the Beauty World MRT station, and near amenities along Upper Bukit Timah Road, Beauty World Centre, and Bukit Timah Plaza.
The tender will close on March 7.