SC Global unit buys Jervois Gardens for S$72m

Singapore

A SUBSIDIARY of luxury residential developer SC Global has picked up Jervois Gardens through a collective sale at S$72 million. The price works out to nearly S$1,511 per square foot per plot ratio (psf ppr) for the 34,038-sq-ft freehold site. No development charge is payable.

Under the Urban Redevelopment Authority's Master Plan 2014, the site is zoned for residential use with 1.4 plot ratio. Inclusive of an additional 10 per cent gross floor area (GFA) for balconies, the unit land price works out to a lower S$1,373 psf ppr. The sale is subject to the approval of the Strata Titles Board.