The $19.8 million price works out to a land rate of $879 per sq ft per plot ratio (psf ppr), inclusive of the development charge as well as the 7% bonus balcony space. Image: Google Street View
After failing in their first bid in 2018, the owners of Jansen Mansions made their second attempt at a collective sale, with the reserve price lowered from $22 million to $19.8 million, reported Singapore Business Review citing PropNex.
The $19.8 million price works out to a land rate of $879 per sq ft per plot ratio (psf ppr), inclusive of the development charge as well as the 7% bonus balcony space.
Situated at 25 Jansen Road within the Kovan area, Jansen Mansions occupy a 1,541.5 sq m site which has a 999-year leasehold tenure that starts from 1 September 1876.
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The site is zoned for residential use under the 2019 Master Plan with a plot ratio of 1.4. Its gross floor area (GFA) stands at about 2,158.1 sq m or around 2,309.2 sq m (24,855.9 sf ft) including the bonus balcony space.
The site enjoys easy access to public transportation like the Kovan MRT station as well as main roads and expressways such as the Pan Island Expressway, Central Expressway and Kallang-Paya Lebar Expressway. It is also a short drive to the Cenral Business District and the Orchard Road shopping belt.
The tender for Jansen Mansions closes on 23 March.