and Springleaf Nature Park. Hong Heng Mansions, a freehold condominium in Sembawang Road, has launched its public tender of collective sale with a reserve price of $133 million. According to the EdgeProp’s LandLens tool, the sale at this price would mean that the development could expect to sell at an approximate of $2,160 psf. The development, located beside the Springleaf landed housing estate, is close to a number of popular lifestyle amenities, such as the Orchid Country Club, Wisteria Mall, Sembawang Shopping Centre, Sun Plaza, Canberra Plaza and Thomson Plaza.

The marketing agency for the condo, ERA Realty Network, announced the launch of the public tender in a press release, specifying the approximate land rate of $1,208 psf per plot ratio (ppr). The reserve price excludes the land betterment charge. With a gross plot ratio of 1.4, the Master Plan for the site identifies it under a “residential with commercial at 1st storey” zone and has a building height control of up to four storeys.

The close proximity of Springleaf MRT Station, located at a distance of 500m, and various primary and secondary schools such as Peiying Primary School, North View Primary School, Naval Base Secondary School, Orchid Park Secondary School, and Chung Cheng High School (Yishun) makes this rare site along the Sembawang Road area prime for development.

ERA agents Jeremy Rikas Chiu, group division director, and Allen Loo, division director, believe the site will attract developers due to its appealing location and competitive reserve JCube Residence price. The tender for the collective sale of Hong Heng Mansions closes on April 18.

Stay up to date with En Bloc Singapore with the latest news, enbloc potential, listings and sales available in 2023. Check out the list of properties around the area of Hong Heng Mansions, Springleaf MRT Station, Peiying Primary School, North View Primary School, Naval Base Secondary School, Orchid Park Secondary School, Chung Cheng High School (Yishun) and Springleaf Nature Park!