Bartley Grove Apartment, together with three adjoining terrace houses at Bartley Road have been sold for S$74.1 million to a subsidiary of Singapore-listed Top Global.
Located in District 19, the combined freehold site has a land area of 65,305 sq ft with a gross plot ratio of 1.4 and an allowable height of up to five storeys.
Marketing agents Credo Real Estate said the sale price translates to a unit rate of approximately S$810 per sq ft per plot ratio.
Each of the owners in Bartley Grove Apartment is expected to receive between S$1.25 million and S$3.24 million.
Credo Real Estate’s Deputy Managing Director Tan Hong Boon said: “This is the first en bloc site sold this year for a condominium development. Most of the other five sites sold this year are zoned mixed use or commercial.”
“The six en bloc sites sold in the first quarter of 2012 amounted to S$456.6 million, which registered the lowest volume over the last seven quarters,” added Mr Tan.
Source : Channel NewsAsia – 1 Apr 2012