Tulip Garden has been put up for collective sale. Credo Real Estate which is handling the sale said the owners of the 164-unit development, are asking for a minimum of S$650 million.
This tender launch is the first large scale freehold en bloc sale offering, valued above S$500 million, in 3 years.
Credo said if sold, Tulip Garden stands to be the third largest successful en bloc sale by deal value in Singapore’s history, after Farrer Court and Leedon Heights.
The other two developments were both sold in 2007 for S$1.3 billion and S$835 million.
Tulip Garden has a land area of some 315 thousand square feet.
That works out to about S$3.14 million to S$5.45 million for the apartment’s owners.
Tulip Garden is located at the corner of Holland Road and Farrer Road in the prime district 10 area
Source : Channel NewsAsia – 6 Dec 2010