Freehold Gloria Mansion to launch collective sale tender with $69 mil reserve price
November 29, 2021
SINGAPORE (EDGEPROP) - Gloria Mansion, a freehold residential development on Pasir Panjang Road, will launch its collective sale tender on Dec 2. The 31-unit development will be put up for sale with a reserve price of $69 million. Strata AMC is the appointed marketing agent for this collective sale.
Gloria Mansion is a 12-storey development that sits on a 45,742 sq ft site with a plot ratio of 1.4. The development has a gross floor area (GFA) of 64,039 sq ft excluding balconies.
The reserve price translates to $1,078 psf per plot ratio (ppr) based on the existing GFA. The development also utilises an existing plot ratio of 1.634, which means there will not be any development charge for the redevelopment.
This is the second time owners at Gloria Mansion have launched a collective sale attempt for their development. The development was put up for sale with a reserve price of $79 million in June 2018. The tender closed without a successful bid.
Read more at: https://www.edgeprop.sg/property-new...-reserve-price