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Thread: Kovans Jansen Mansions sold higher at S$19.1m

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    Default Kovans Jansen Mansions sold higher at S$19.1m

    Kovans Jansen Mansions sold higher at S$19.1m

    Jun 29, 2022

    JANSEN Mansions at Kovan has been collectively sold to Macly Capital in a public tender for S$19.1 million, slightly higher than the reserve price of S$18.9 million, marketing agent PropNex Realty announced on Wednesday (Jun 29).

    The tender, which closed on Jun 28, follows 2 previous unsuccessful attempts by owners to sell the property collectively in 2021 and 2018.

    Located at 25 Jansen Road, the 12-unit development sits on about 16,592.7 square feet (sq ft) of land with a plot ratio of 1.4 and a gross floor area (GFA) of about 23,229.8 sq ft. It is zoned for residential use, with a 999-year leasehold tenure starting from Sep 1, 1876.

    After factoring in the 7 per cent bonus balcony space, the new sale price translates to a land rate of S$863 per square foot per plot ratio inclusive of development charges.

    The owners second collective sale attempt early last year saw a reserve price of S$19.8 million which was subsequently reduced to S$18.5 million in a tender relaunch in August 2021. The first time Jansen Mansions was launched for collective sale was in 2018 with a reserve price of S$22 million.

    Tracy Goh, head of investment and collective sales at PropNex, said: This year, we saw more interest in this plot of land compared to last year. Some of the attributes of Jansen Mansions that appealed to interest parties were the 999-year land lease, the bite-size quantum, and its location amidst well-established neighbourhoods of Serangoon and Kovan.

    https://www.businesstimes.com.sg/rea...igher-at-s191m

  2. #2
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    Default Re: Kovans Jansen Mansions sold higher at S$19.1m

    Jansen Mansions sold at $19.1 mil to Macly Capital via collective sale

    June 29, 2022

    Jansen Mansions has been sold to Macly Capital for $19.1 million, following failed collective sale attempts in 2018 and 2021. The tender had closed on June 28.

    The sale price comes in higher than the reserve price of $18.9 million, or a land rate of $871 psf ppr. PropNex Realty brokered the sale.

    The 12-unit development sits on a site area of 16,593 sq ft and a built-up area of 23,230 sq ft. It is zoned for residential use, and has a permissible plot ratio of 1.4, according to the 2019 URA Master Plan.



    Located in Kovan at 25 Jansen Road, Jansen Mansions is within walking distance from Serangoon MRT Station (on the North-east Line). Amenities nearby include the Heartland Mall, NEX mall, Chomp Chomp food centre and Serangoon Stadium and Swimming Complex. In addition, there are several educational institutions in the vicinity, such as Zhonghua Primary School, Yangzheng Primary School, St. Gabriel Primary School, Nanyang Junior College and the Australian International School.

    “The location within well-established neighbourhoods of Serangoon and Kovan provides an opportunity for a boutique residential development that attracts those who want a home in a tranquil and exclusive private residential enclave, while having access to a range of amenities.” says Tracy Goh, head of investment and collective sales at PropNex.

    “Buyers were also attracted to the 999-year leasehold tenure and the bite size quantum,” she adds.

    https://www.edgeprop.sg/property-new...ollective-sale

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