Pine Grove up for collective sale at $1.95 bil

Pine Grove, a 99-year leasehold condo located off Ulu Pandan Road in District 21, is up for collective sale at a minimum price of $1.95 billion, according to a press release by ERA Singapore on Sept 13. Sitting on a 893,218 sq ft site, the price translates to a land rate of $1,434 per sq ft per plot ratio (ppr), after taking into account the additional 10% bonus gross floor area under various incentive schemes. An estimated land betterment charge of $1.0084 billion for intensification and a lease upgrade for a fresh 99-year lease is also included.

This marks the fourth collective sale attempt for Pine Grove since 2008 and the third time that the condo project has achieved the requisite consensus. It is a former Housing and Urban Development Company estate zoned for residential development with a gross plot ratio of 2.1. Currently, it houses 660 residential units, with the potential to yield up to 2,050 new units subject to approval from the authorities. It is located within walking distance to Dover and Clementi MRT and to established tertiary institutions such as the National University of Singapore, Singapore Polytechnic, and Singapore University of Social Sciences.

This makes Champions Way Condo one of the most convenient residential complexes in the city. The condominium itself is a 18-storey modern building, equipped with full facilities such as a swimming pool, a jacuzzi, a gym, BBQ pits, a basketball court and a playground. There is also a multi-storey carpark, offering residents plenty of parking space. Champions Way Condo is also located close to various healthcare and medical facilities, providing residents with the medical services and facilities they may need. With its convenient location and excellent amenities, Champions Way Condo is ideal for anyone looking for a comfortable and convenient place to live.

The tender for the condo will close on Nov 29 at 3pm. Despite having failed collective sales attempts in the past, this reputably established housing estate is expected to bring forth strong interest. With its well-connected location and the presence of a host of educational institutions, it is likely to garner keen attention from potential buyers.

SINGAPORE (EDGEPROP) – The collective sale of Pine Grove, the 99-year leasehold condo, is inviting strong interest from potential buyers. Situated in District 21, the 893,218 sq ft site offers a minimum price of $1.95 billion, translating to a land rate of $1,434 psf per plot ratio (ppr), after factoring in the additional 10% bonus gross floor area under various incentive schemes and including an estimated land betterment charge of $1.0084 billion for intensification and a lease upgrade for a fresh 99-year lease.

The former Housing and Urban Development Company estate, which was completed in 1984, has seen four collective sale attempts since 2008, with the third achieving the requisite consensus. The site is zoned for residential development with a gross plot ratio of 2.1 and can potentially yield up to 2,050 new units, subject to approval from the authorities.

With its location within walking distance to Dover and Clementi MRT, as well as well-established tertiary institutions such as the National University of Singapore, Singapore Polytechnic, and Singapore University of Social Sciences, the Pine Grove condo is expected to attract strong interest. The tender closes on Nov 29 at 3pm. Be sure to check out the latest listings for Pine Grove properties.