Laguna Park condo, a former HUDC estate, has received a S$1.33 billion price tag and is set to become the second-largest collective sale in the country after Farrer Court, which was sold for a whopping S$1.34 billion in 2007, if the deal is successful.
The S$1.33 billion indicative price, which works out to around S$975 psf ppr, includes a development charge of around S$269 million and a lease top-up of approximately S$250 million.
Located along Marine Parade Road, Laguna Park comprises 516 residential units and 12 commercial units. It was previously released for sale in 2009, with an indicative price of S$1.2 billion. However, a potential deal for the site was called off after the sales committee was pressed to obtain the minimum consent level from owners for a proposed lower price.
Knight Frank, which is marketing the property, said each resident of the 34-year old condo will likely receive S$2.35 million for a S$1453 sq ft unit to S$4.5 million for a 3,369 sq ft penthouse unit.
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