Goodluck Garden, a freehold condominium site along Toh Tuck Road, has been put up for collective sale, with the owners expecting offers above their $550 million reserve price, revealed marketing agent Knight Frank Singapore.
“Including an additional estimated development charge of approximately $63.2 million (subject to verification and confirmation with the relevant authorities on the development baseline) payable for the intensification of the site to the maximum GFA, this translates to a land rate of approximately $1,216 psf ppr,” it said.
Goodluck Garden comprises eight blocks with 208 residential units and two commercial shops. The apartment sizes range between 95 sq m and 182 sq m, while the two shops measure 30 sq m and 91 sq m, respectively.
Zoned for residential use under the 2014 Master Plan, the 33,457.2 sq m site has a gross plot ratio of 1.4.
“This translates to a maximum gross floor area (GFA) of approximately 504,182 sq ft, and based on average size of 753 sq ft, can potentially yield 669 new units in the new development,” noted Knight Frank.
Situated near Beauty World MRT Station, Goodluck Garden is a five-minute drive to the Jurong Lake District and a 25-minute drive to the CBD.
Nearby schools include Pei Hwa Presbyterian Primary School, Bukit Timah Primary School, Bukit View Primary School, Methodist Girls’ School (Primary), Keming Primary School, Ngee Ann Polytechnic as well as the Singapore University of Social Science.
The tender for Goodluck Garden will close on 7 March.
This article was edited by Keshia Faculin.