Derby Court sold at S$73.88m to a unit of Roxy-Pacific

DERBY Court has been sold for S$73.88 million to RH Developments Two Pte Ltd, a subsidiary of Roxy-Pacific Holdings.

The condominium development, which occupies a site of 18,506 square foot, was sold at a collective sale tender. This is the third time the property was offered for sale collectively.

Sole marketing agent for the property, JLL, indicated that owners of this development can expect to receive gross sales proceeds of between S$3.36 million and S$6.65 million per unit.

JLL regional director Tan Hong Boon said that the successful sale price also works out to a land rate of about S$1,390 per square foot per plot ratio based on the "as-built" gross plot ratio of 2.872.

The 20-unit Derby Court, comprising 18 apartments and two penthouses, sits along Derbyshire Road in the Novena locale. It is across the road from St Joseph's Primary Institution (Junior), and also close to the Anglo-Chinese School (Junior).