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Jervois Gardens awarded to SC Global unit for S$72m

THE collective sale of freehold development Jervois Gardens has been awarded to a subsidiary of SC Global, Brownstone Pte Ltd, for S$72 million.

Jervois Gardens comprises two low-rise blocks of 14 maisonettes and three apartments located at 30F and 30G Jervois Road.

The property was put up for collective sale by Colliers International, with the tender for the subject site launched on Aug 29 and closed on Sept 26. The recently closed tender marked the third attempt by Colliers putting Jervois Gardens out for a collective sale.

Managing director of Colliers International Singapore Tang Wei Leng noted that each owner of either a maisonette or apartment at the development will potentially get between S$3.3 million and S$4.5 million.

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Colliers International has received eight bids for this prime freehold site.

Jervois Gardens sits on a freehold land area sited between the Redhill MRT station and the future Great World City MRT station. Under the 2014 Master Plan, the subject site is zoned for "residential" use.

The sale is subject to the approval of the Strata Titles Board.

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