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Jervois Gardens to be up for sale by tender for about S$68m
AMID the recent properties or sites put up for sale, Colliers International has joined in the action with Jervois Gardens.
The property located at 30F and 30G Jervois Road, off River Valley road, will be put up for sale by tender for about S$68 million, which works out to be S$1,297 per sq ft (psf) per plot ratio (ppr), inclusive of the additional 10 per cent Gross Floor Area (GFA) for balcony and assuming no development charge payable.
The tender will close on Sept 26, 2017, at 3pm.
Jervois Gardens comprises two four-storey walk-up blocks, accommodating a total of 14 maisonettes and three apartments. The development sits on a freehold site that is regular in shape with a site area of about 34,038 sq ft.
Under the 2014 Master Plan, the site is zoned for "Residential" use with a plot ratio of 1.4. It has the potential to be redeveloped into a five-storey development comprising 60 units of about 850 sq ft each, subject to approval by the relevant authorities.
Tang Wei Leng, managing director at Colliers International, says each owner will get between S$3 million and above S$4 million from the collective sale.