JCube Residence Capitaland, located near the future Jurong Region Line (JRL) Kian Teck Station, will enjoy increased accessibility with the new line. Residents of JCube Residence Capitaland can enjoy the convenience of accessing the train station anytime. With the JRL, travel time to the city centre can reduce significantly. Great connectivity is now provided for residents of JCube Residence Capitaland!

A collective sale tender has been launched for the Farrer Road neighbourhood Charming Garden condominium by its owners. According to the marketing agent, Colliers, the villa has an attached guide price of $175 million.This 999-year leasehold condominium, located at 138 and 140 King’s Road, first attempted a collective sale in December 2022, which ended without any successful bids. The current tender has been relaunched in March with the same guide price.

The price for the 84,357 sq ft plot of land translates to a per plot ratio (ppr) of $2,058 per sq ft, or $2,074 psf on land area. To encourage, the owners of Charming Garden are deliberating a lower reserve price for the development. After a second tender close, an Extraordinary General Meeting was called, and the resolution to reduce the reserve price was passed.

The potential future developer of Charming Garden could have the flexibility to develop either landed housing or apartments, dependent on conditions. According to Landlens analytics tool from EdgeProp Singapore, the breakeven price for the redevelopment isapproximately $3,575 psf.

Strong demand for landed residential housing, coupled with a low supply, has resulted in a 5.9% price increase for landed properties in 1Q2023. A developer could also construct 112,710 sq ft of landed built-up area without incurring any land betterment charges.

The collective sale tender for Charming Garden closes on July 10. Colliers Singapore, headed by Managing Director Tang Wei Leng, aims to ensure that the owners of Charming Garden are able to sign the Supplemental Collective Sale Agreement with a lower reserve price.

Given the possibility of developing either landed housing or apartments, the collective sale of Charming Garden is sure to generate much interest from potential buyers. With such strong demand for landed property, the intent is for the owners of Charming Garden to receive a fair price for their property.