The collective sale of Marina Gardens Condo sq ft. KSH plans to redevelop the site, which features unobstructed views of Jurong Lake. Buyers can also look forward to a convenient location with access to Lakeside MRT station.
The three developers who bid on the property are Chip Eng Seng Corporation, KSH Holdings, and SingHaiyi Group. They will build 440 new residential units on the site.
Situated along the lakefront, the Yuan Ching Road condo is surrounded by landmarks such as the Parkview Mansions, as well as a plethora of eateries. This condo is within easy reach of the city’s most famous hawker centres, including Boon Lay Place Food Village.
The former Park View Mansions was put up for sale last year, with Chip Eng Seng and SingHaiyi Group being the successful bidders. The two companies are working together to develop the site as a residential complex. Besides, they’re partnering with other property developers, including KSH Holdings, TK 189 Development, and the Ho Lee Group.
The acquisition of Yuan Ching Road Condo by KSH Holdings, a Singapore property developer, is expected to raise more than SG$260 million. According to the company, the acquisition will be financed through internal funds and external borrowing. Moreover, the deal will result in a 440-unit residential development.
The site is a former Park View Mansions that has a 99-year lease. The new project offers unobstructed views of Jurong Lake and is a short walk away from the Lakeside MRT station.
Jurong Lake District
Located in Jurong Lake District, Yuan Ching Road Condo is a development that offers a variety of services. It is near several amenities including the Jurong Secondary School, Canadian International School, and the Jurong Junior College. The area is also near Jurong General Hospital, National University Hospital, and the Jurong Polyclinic. Residents will have easy access to the city with three MRT stations.
The property is located just steps away from the Lakeside MRT station, making it easily accessible for commuters. In addition, the development is connected to the Jurong regional hub and one-north expressway. It is also close to local education institutions such as Rulang Primary School. As a matter of fact, the site has a gross plot ratio of 2.1, meaning it can accommodate as many as 440 units.
Redevelopment of former Park View Mansions
The former Park View Mansions in Chip Eng Seng is slated to be developed into 440 residential units, as the site is near several MRT stations. It also has good connectivity to the one-north and Jurong regional hubs, and is within a 15-minute drive of major highways. In addition, it is close to various educational institutions, including Rulang Primary School. The development site has an area of 17,834.8 square metres and is estimated to fetch SG$260 million once it is fully developed.
The former Park View Mansions site has an allowable gross plot ratio of 2.1, allowing for up to 440 dwelling units. The redevelopment will cost around S$1,023 psf ppr, with a 99-year lease.