Derby Court up for en bloc sale by tender

Singapore

UNDAUNTED by the lacklustre en bloc residential sale market this year, a freehold condominium in the Novena area has launched a collective sale. Derby Court, a 35-year-old, 12-storey development comprising 20 apartments, has given an indicative price of S$68.28 million, or S$1,286 per square foot per plot ratio (psf ppr), based on an allowable gross floor area of 53,094 sq ft.

The land rate would be lowered to about S$1,169 psf ppr, including the 10 per cent bonus gross floor area allowed for balconies.