Each flat owners will get between $2.14 million and $2.27 million.
Changi Garden is the most recent development to be marketed at an en bloc sale for about $248.8 million, shown marketing representative Edmund Tie & Co. on Tuesday (17 October).
The purchaser is CEL Development, a part of Chip Eng Seng Group. Good news is that CEL has already fully sold Parc Riviera just a month ago, Sept 2017. And upcoming plot beside Parc Riviera will be Twin Vew Condo by China Construction according to URA
Situated in Upper Changi Road North, the freehold land sits on roughly 200,093 sq feet of property. The website is zoned residential with a plot ratio of 1.4, based on this 2014 Master Plan.
Produced in the late 1970s and early 1980s, Changi Garden includes 60 flats, 12 penthouses and 12 stores.
The flat owners will get between $2.14 million and $2.27 million, whilst penthouse owners are going to get between $4.03 million and $4.74 million.
“Along with this high advancement baseline, we also have shared opinions and guidance which we got from the relevant government with programmers,” explained Tan Chun Ming, manager of investment advisory at Edmund Tie & Co..
“Additionally, there hasn’t been some residential property offered inside a 2.8km radius of Changi Garden because 2013. Every one of these is selling things that programmers would discover attractive.”
CEL Development is forecast to construct a residential project that may incorporate a retail element, subject to the approval of the relevant government.