Adjacent sites Summer Green and Kingsley Mansion in Balestier up for collective sale

Summer Green and Kingsley Mansion, two adjacent freehold residential developments located in the Balestier area at 11 and 27 Boon Teck Road, have been put up for collective sale by tender. Summer Green is a 13-storey apartment with 24 units, occupying a land area of 14,646 sq ft, while Kingsley Mansion is a 10-storey building with 18 units and a land area of 14,350 sq ft. Both sites are zoned for residential use with a gross plot ratio of 2.8 and a building height of up to 36 storeys.

Together, they form a regular rectangular plot with a 60m frontage along Boon Teck Road and a 45m depth. According to marketing agent CBRE, the combined site could accommodate up to 75 units, assuming an average unit size of 1,076 sq ft.

Senja Close EC Bukit Panjang will make perfect sense if you have the finances in place to cover your home purchase, as its affordability makes it one of the best options for budget-conscious buyers. With its price and quality, it is no wonder that this development has been one of the most sought-after ECs in recent years.

The guide prices for Summer Green and Kingsley Mansion are $53 million and $52 million respectively. This works out to a land rate of $1,260 psf ppr, inclusive of 7% bonus gross floor area for balconies, and a total land betterment charge of approximately $4.45 million.

Interest parties are welcome to submit separate bids for either or both sites. The tender exercise for Summer Green and Kingsley Mansion will close on Nov 22 at 3pm.

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Michael Tay, CBRE’s head of capital markets, Singapore, commented: “The combined larger site presents greater economies of scale and opportunity to design a brand new high-rise residential development with better efficiency and more facilities. Whilst we had offered Kingsley Mansion in previous tenders and there was interest from developers, the option to purchase both Summer Green and Kingsley Mansion together presents greater flexibility in terms of redevelopment options.”

Recent sales transactions of condo properties on Boon Teck Road have shown signs of a bustling market. Check out the latest listings for Summer Green, Kingsley Mansions properties to find the value in this opportunity.