Jervois Gardens sold en bloc to SC Global for $72 mil

By Tan Chee Yuen / EdgeProp | September 27, 2017 10:25 AM SGT
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SC Global’s subsidiary Brownstone Pte Ltd has won the tender for the collective sale of Jervois Gardens condominium, according to marketing agent Colliers International Singapore. There was a total of eight bids.
This was Jervois Gardens’ third attempt of a collective sale. The winning bid of $72 million translates to approximately $1,373 psf per plot ratio. Depending on the size of their units, each owner can potentially receive between $3.3 million and $4.5 million.
Jervois Gardens comprises two four-storey walk-up blocks housing 14 maisonettes and three apartments. It sits on a freehold site of approximately 34,038 sq ft. The site is zoned for ‘Residential’ use with a plot ratio of 1.4. It can be redeveloped into a five-storey development comprising 60 units of approximately 850 sq ft each, subject to approval by the relevant authorities.
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