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Freehold Goodluck Garden sold to Qingjian Realty for $610 mil

By Angela Teo

/ EdgeProp |

March 9, 2018 9:18 PM SGT

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Updated, March 12, 2018, 9:09 p.m., to add comment from Qingjian Realty.

The 210-unit, freehold Goodluck Garden along Toh Tuck Road, has been sold to Hong Kong-listed developer Qingjian Realty for $610 million ($1,110 psf). Located off Bukit Timah Road, the 360,130 sq ft site has a 1.4 plot ratio. The new project can have a gross floor area of 504,187 sq ft.

Goodluck Garden has 208 residential units sized from 95 to 182 sq m and two 30- and 91-sq-m shops. Gross proceeds per unit are expected to range between $924,000 and $3.51 million.

Aerial view of Goodluck Garden at Toh Tuck Road

(Credit: Knight Frank)

According to Qingjian Realty, the acquisition of Goodluck Garden adds more than 600 units to its land bank. The collective sale site is located within walking distance of Beauty World MRT station. Knight Frank Singapore brokered the sale.

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