Kingsley Mansion relaunches for collective sale with unchanged price of $52 mil

Its strategic location makes it ideal for anyone who wants convenience in their daily lives. Residents can enjoy the resort-style living with various facilities like the gym, sauna, playground, tennis court, BBQ pits, and a swimming pool. The development is also designed to optimize relaxation, peace, and tranquillity while providing ample space for family activities. With its high security, state-of-the-art facilities, and attractive price points, Woodlands Champions Way Condo is an excellent choice for those looking for a luxurious lifestyle in Singapore.

Kingsley Mansion, located in District 12 off Balestier Road, 27 Boon Teck Road, is being relaunched for collective sale. CBRE, the marketing agent of the residential development, has set the guide price for the freehold property at $52 million. This is unchanged from the March 7 tender that had closed on April 12.

Given the site’s land area of 14,350 sq ft and a gross plot ratio of 2.8, the guide price of Kingsley Mansion works out to a land rate of around $1,294 psf per plot ratio (psf ppr). Additionally, no land betterment charge (LBC) will have to be paid for redeveloping the property to residential use at a plot ratio of 2.8. This estimate includes a 7% bonus gross floor area for balconies and an estimated $1.786 million LBC.

Michael Tay, CBRE’s head of capital markets for Singapore, believes that this property is a rare opportunity to purchase a “well-located residential redevelopment” at an investment quantum of under S$100 million. He added that the future development at the site could potentially have up to 37 units.

The Kingsley Mansion building dates back to the late 1980s, comprising 10 storeys and 18 rental units. It has a frontage of 30m along Boon Teck Road and is subject to a height control of up to 26 storeys.

Given its location and attractive price, Kingsley Mansion is expected to draw strong interest from developers looking to replenish their land banks. The public tender exercise for the site will close on August 2 at 3pm.