Putting Charming Garden up for auction for $175 million

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Grand Dunman condominium

Charming Garden, an 999-year leasehold property located at King’s Road, off Farrer Road in District 10 The development is scheduled to go on the collective sale through an open auction, according to the press release issued on December 5 from the marketing agent Colliers. The project is expected to have a base price of $175 million which is equivalent to $2,096 per plot ratio (psf ppr) that is $2,074 per sq ft on the property’s land.

Grand Dunman condominium is a 99-year leasehold property is situated in one of the attractive neighbourhoods in Singapore. It sits in a total suite area of 25,234.3 with a Gross Maximum Area (GFA) of 88,321 square metres (sq m).

The development is located in 140 and 138 King’s Road, Charming Garden was built in the 1980s, and includes 32 apartments. The residential development is set on an 84,357 square foot elevated site. Colliers states that the site reconstruction will be an area of gross floor (GFA) that is not more than the existing verified GFA of approximately 83,491 square feet. This site is not qualified to be part of bonuses under the GFA scheme and there is there is no land Betterment Charges are applicable.

Tang Wei Leng, Colliers director of management and director of investment and capital markets in Singapore is of the opinion that this site will be appealing to developers as well as ultra-high-net-worth people due to its leasehold tenure of 999 years and its location at “one among Singapore’s more sought-after residential enclaves that is mostly landed housing”. The High-end Bungalow areas such as Victoria Park, Cornwall Gardens and Belmont Park.

The property is located within the 1km radius from Nanyang Primary School. It is only five minutes from the Farrer Road MRT Station on the Circle Line. Nearby facilities comprise Empress Road Market and Food Centre as well as Singapore Botanic Gardens. Singapore Botanic Gardens.

The public bid to bid on Charming Garden will end on the 17th of January, 2023at 3pm.

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