Vista Park up for collective sale again

Vista Park at South Buona Vista Road is up for collective sale again. This time, the asking price that amounts to S$323 million (the reserve price the majority owners have set) is notably lower than the S$338 million asking price when it was first put on the market as a leasehold site in May.

Vista Park covers a 319,248 sq ft site with a lease term of about 66 years.

The S$323 million reserve price is equivalent to a land price of S$824 psf ppr which is inclusive of approximately S$45.3 million payable for topping up the site's lease to 99 years, noted Knight Frank, the site’s marketing agent.

The figure is based on a maximum gross floor area (GFA) of 446,947 sq ft, and covering a gross plot ratio of 1.4 under the Master Plan 2008.

Built in the 1970s, Vista Park comprises 209 townhouses and apartments, with sizes ranging between 603 sq ft and 2,702 sq ft.

“The site is tucked away in a peaceful, quiet neighbourhood away from busy intersections, yet well served by major roads,” according to Knight Frank.

“A resort-style residential development will be ideal for the site as it is just next to Kent Ridge Park, which is linked to Telok Blangah Hill and Mount Faber by the Southern Ridges, offering natural landscape and lush greenery,” said Ian Loh, Director and Head of Investment, Knight Frank.

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