Jansen Mansions sold at $19.1 mil to Macly Capital via collective sale

SINGAPORE (EDGEPROP) - Jansen Mansions has been sold to Macly Capital for $19.1 million, following failed collective sale attempts in 2018 and 2021. The tender had closed on June 28.

The sale price comes in higher than the reserve price of $18.9 million, or a land rate of $871 psf ppr. PropNex Realty brokered the sale.

The 12-unit development sits on a site area of 16,593 sq ft and a built-up area of 23,230 sq ft. It is zoned for residential use, and has a permissible plot ratio of 1.4, according to the 2019 URA Master Plan.

Located in Kovan at 25 Jansen Road, Jansen Mansions is within walking distance from Serangoon MRT Station (on the North-east Line). Amenities nearby include the Heartland Mall, NEX mall, Chomp Chomp food centre and Serangoon Stadium and Swimming Complex. In addition, there are several educational institutions in the vicinity, such as Zhonghua Primary School, Yangzheng Primary School, St. Gabriel Primary School, Nanyang Junior College and the Australian International School.

“The location within well-established neighbourhoods of Serangoon and Kovan provides an opportunity for a boutique residential development that attracts those who want a home in a tranquil and exclusive private residential enclave, while having access to a range of amenities.” says Tracy Goh, head of investment and collective sales at PropNex.

“Buyers were also attracted to the 999-year leasehold tenure and the bite size quantum,” she adds.