Former Park View Mansions Condo Updates
: New Development Former Park View Mansions Condo Launching Soon by Chip Eng Seng. Yuan Ching Road Condo showflat available for viewing!
: Yuan Ching Road Condo Near to Lake Side MRT Station.
7-Jun-2022: Yuan Ching Condo e-brochure is now available for download here. The Gallery as well as Video of the development is uploaded.
5-Jun-2022: Please kindly register here for the latest VVIP dates and discounts.
2-Jun-2022: Check out the latest site plan and floorplan here.
1-Jun-2022:Please read more on the latest info on buyer stamp duty rates as well as the housing loan regulations on the latest TDSR Rates.
|Project Name||Former Park View Mansions Condo|
|Address of Development||Yuan Ching Road|
|Tenure||99 Years Leasehold|
|Site Area||sq metres|
|Gross Floor Area||sq metres|
|No of Blocks||To Be Advised|
|No of Storeys||To Be Advised|
|No of Units||Approximately 280 Units|
Location of Former Park View Mansions Condo
A Review of Former Park View Mansions Condo at Yuan Ching Road
From a buyer’s perspective, a new development that is launching soon at the Lakeside Gardens area might prove to be very attractive given that transformations around the area. The Former Park View Mansions condo located at Yuan Ching Road have many new transformation including the Jurong Lake District as well as the Chinese Garden area. The Jurong Lakeside District, a vast expanse of land and water located near Yuan Ching Road, will include an international-standard science centre. It will also house a number of family-friendly attractions. The area already boasts the Jurong Bird Park, Chinese Garden, and a Japanese Garden. In the near future, the Yuan Ching Road area will feature a vibrant streetscape and ample green spaces. Here are some of the reasons why the Former Park View Mansions should see good demand for investors
1. Largest Plot of Land in Yuan Ching Road
A good look around the Yuan Ching Road area would see that there is no new launches in the area for a long time. The last development which is now fully sold is Lake Life EC which receives good ssjes results. A note that Lake Life EC is not even a private condominium but it is an executive condominium subjected to valid HDB family nucleus and hence there will br even greater demand from buyers who do not qualify for Lake Life EC. There are 2 other developments nearby which is Lakeside Apartments and Lakeside Towers but the landsize for former Parkview Mansions is the biggest making it the most attractive development if you are looking for a great host of amenities in the Yuan Ching Road area.
2. Wide Range of Food Selections
The former Park View Mansions Condo is also situated in Yuan Ching Road along Lakeside that has proofed to be one of the most sought after locations for food in the West side. Many of the iconic hawker centers and local signature dishes are located within a short drive away from former Park View Mansions enbloc. For example, Taman Jurong Market and Food Centre is within walking distance to the development and the Food Centre is directly connected to Taman Jurong Shopping Center which also gives more food selection as well. A short drive from the former Park View Mansions also meant that your family can reach the signature Boon Lay Place Food Village which host plenty of local delights as well. The former Park View Mansions allow residents to have a wide selection of food locations and variety making it an ideal development for home stay at Yuan Ching Road.
3. Improved Connectivity
It has long been stated in the government plans that the Jurong Lakeside District will become a Live Work and Play Hub and therefore plans are underway to transform Yuan Ching Road near to Lakeside Gardens to be a transportation hub. A new MRT Line which is envisioned to be the Jurong Region Lobd will connect the residents of Park View Mansions Condo to other parts of Singapore including Jurong East, Jurong West as well as Clementi. There will also be road extensions to connect the Former Park View Mansions via road access to Ayer Rajar Expressway and Pan Island Expressway.
The Singapore Urban Redevelopment Authority (URA) has recently unveiled a master plan for the Jurong Lake District (JLD), the second Central Business District in the country at Yuan Ching Road Former Park View Mansions. The Former Park View Mansions mansions will eventually be connected to other parts of Singapore by new rail lines and bus routes. This will make the travel time of residents and visitors more convenient. Additionally, residents will be closer to work and other amenities thanks to new transit options. By 2030, the district will have four main rail lines serving the area.
In the coming decades, the Jurong Lake District will become the focus for new development at Former Park View Mansions. The city-state is committed to making the Jurong Lake District a more attractive location for residents. It is also set to become a tourist destination and a hub for business and employment. The Master Plan for the Jurong Lake District will be studied carefully and will incorporate a variety of factors. It will be based on community needs and the needs of the surrounding area. It will be open for public feedback to allow it to meet the needs of the community.
Former Park View Mansions Enbloc Condo at Yuan Ching Road
The new development at Yuan Ching Road is the former Park View Mansions Enbloc that is collectively sold to KSH, Chip Eng Seng & SingHaiYi. The development resides in the highly sought after Yuan Ching Road.
Former Park View Mansions Condo is a condominium that comprises four 10-storey residential blocks with 160 units. The KSH, Chip Eng Seng & SingHaiYi plan to redevelop the building and increase the number of units. Former Park View Mansions Enbloc development will have unobstructed views of Jurong Lake and will be located within walking distance of the Lakeside MRT station.
Former Park View Mansions Condo is a joint venture between three Singapore developers. CEL Development holds a 40% stake in the project while TK 189 Development and Haiyi Holdings hold a 30% share. Both firms are controlled by Celine and Gordon Tang.
Former Park View Mansions Condo will be developed on a residential-use-zoned site and is adjacent to Lakeside Apartments. The developer plans to knock down the old buildings and develop a new 24-storey tower with more than 300 units. In addition, the development will benefit from enhancements made to the Jurong Lake District. The area is being promoted as a new tourism and commercial hub and should benefit Park View Mansions.
Amenities of Former Park View Mansions Enbloc Copndo
Former Park View Mansions are located in a prime location near several MRT stations including Chinese Garden MRT station. It is also connected to one-north and Jurong regional hubs, and is only a few minutes away from major highways. The property is also close to local educational institutions such as Rulang Primary School. It has an area of 17,834.8 square metres, with a plot ratio of 2.1. The developers are planning to build a total of 440 units within the complex.
In the past year, the property was up for sale. The Sing-Haiyi Group and the Chip Eng Seng Corporation have successfully bid for the development. These developers are partnering with KSH Holdings and TK 189 Development, a partnership firm. The Ho Lee Group also has a stake in the project.
The new owners of Park View Mansions have made a huge announcement. The three developers have bought the site for $260 million, and intend to turn it into a residential project. They will take on the 99-year leasehold property and will redevelop it into a residential complex. The developers are collaborating with other developers, such as KSH Holdings, to ensure that the project remains in Singapore.
Former Park View Mansions Condo to Be Redeveloped
The former Park View Mansions enbloc is one of the newest enblocs in Jurong. It’s on Yuan Ching Road, close to Jurong Lake Gardens. It has a permissible plot ratio of 2.1 and a total land area of 17,834 square metres. Listed for collective sale last month, the asking price was S$260 million.
The 88-unit development tried to sell the properties en-bloc, but it didn’t succeed. As a result, the development owners were not able to raise 80 per cent of the required funds. Since then, the price has decreased by 30 per cent, but it still represents a high premium compared to selling units individually.
The new owners of Former Park View Mansions Condo have announced plans to redevelop the former estate. They will build a new residential complex on the site. They are considering selling some of the units, but will be able to retain a majority of the property’s value. The redevelopment of Park View Mansions is expected to start in Q3 2019.
With a gross plot ratio of 2.1, the site could yield up to 440 dwelling units. Former Park View Mansions Condo enbloc of the property is expected to fetch the owners $320 million through a collective sale. That would be equivalent to about $1,183 psf ppr. The owners will also spend $157 million on intensification and top-up a 99-year lease on the land.
The Park View Mansions enbloc was first put up for collective sale in March 2018. It comprises 160 units and is 99-year leasehold. It is situated near the Jurong Lake Gardens in Jurong Lake District. The current re-launch of the collective sale tender will cost an estimated $250 million.
Former Park View Mansions Condo has 53 years remaining on its 99-year lease that began on October 1, 1976. The current price is S$1,023 psf ppr, according to marketing firm ERA Realty. This includes difference premium based on the plot ratio. The buyers will need to obtain planning permission from the Urban Redevelopment Authority and JTC.
KSH Wins Enbloc Tender For Former Park View Mansions
In the past six months, KSH has concluded two residential en bloc deals with partners. The en bloc market is booming and over S$1.9 billion in sales has been recorded. Moreover, 10 developments have been transacted since January this year. This boost comes from rising prices of new private houses, robust performance of recent condo launches and a string of successful tenders.
Chip Eng Seng, who owns 50 percent of KSH, has won an enbloc tender for the former Park View Mansions. The developer plans to redevelop the former park view mansions complex into a residential complex. The deal will cost more than SG$260 million. The joint venture between CEL Development and KSH Holdings will be financing the acquisition from internal funds and external borrowing. The joint venture is expected to make further announcements when the acquisition is completed.
The joint tenderers have said that they plan to form a joint venture to buy the property. Both parties will be entitled to 40% participation interest in the project. Both companies paid a S$100,000 tender fee. The remaining funds will be used to develop the project.
The Park View Mansions are located near Lakeside MRT station and the Jurong Lake District. The land is zoned for residential use with a gross plot ratio of 2.1. The development is expected to have a gross floor area of up to 403,145 sq ft.
Park View Mansions were sold to a joint venture for $260 million, or S$260 per square foot. The site is being redeveloped into a residential complex with 440 units. CEL Development, a subsidiary of Chip Eng Seng’s company, and TK 189 Development, a partnership firm of KSH Holdings, will develop the site.
The joint tender to acquire Park View Mansions has been won by three developers – the Chip Eng Seng Corporation, the SingHaiyi Group and KSH Holdings. The developers plan to form a joint venture to buy the land and develop it. Each developer will receive a 40% stake in the property. The joint tender fee was S$100,000.
KSH and Chip Eng Seng have joined forces on a number of high-profile transactions in recent years, including the $650 million acquisition of the Peace Centre/Peace Mansion last December. The two developers are also partners in the TK 189 Development.
The new project will have a total of 440 units. Its site area is 17834.8 sq ft. It has a plot ratio of 2.1, and is located near the Lakeside MRT station. The new development will have unobstructed views of Jurong Lake. The site has a 99-year leasehold period.
The price of the site is S$1,023 per square foot (PSR). The company’s marketing firm, ERA Realty, estimates that the sale price of the land will be at least S$1,023 psf. This price includes a differential premium for optimizing the plot ratio. It also includes topping-up the current lease to 99 years.
The park view mansions site has a gross plot ratio of 2.1 and a GFA of 403,145 sq ft. The site is located adjacent to the Jurong Lake Gardens.
Tang and his wife, Celine, are expanding their real estate empire in Singapore. They recently acquired a large condo complex in Jurong East. The development overlooks Jurong Lake and was acquired through a collective sale.
Park View Mansions relaunches on Wednesday with a 22 per cent lower reserve price
The relaunch of Park View Mansions will be at a much lower reserve price, at around $320 million. The site has a gross plot ratio of 2.1 and could yield up to 440 units, if redeveloped. The site is on a 191,974 sq ft piece of land, which means it has significant development potential. Its developers say they expect to net $320 million from the collective sale, which would translate into an average price of $1,183 psf ppr. In addition to this, they will spend $157 million on land intensification and top up the 99-year lease.
The property is still subject to a 99-year lease that started on October 1, 1976. ERA Realty estimates the sale price at about S$1,023 psf ppr, which includes a difference premium due to the plot ratio of the site. The owners are not seeking an extension of the lease, as this would require the permission of Urban Redevelopment Authority and JTC.
The relaunch price of Park View Mansions has fallen by 22 per cent, making it a more attractive purchase for investors. This is a good opportunity for developers to replenish their land bank, as the Jurong area continues to see increasing demand for housing.
Joint tenderers have good mix of experience in property development and construction works in Singapore
The two joint tenderers have an established track record in construction, property development, and investment. They have also won a number of BCA Construction Excellence Awards for their projects. KSH has won the awards for projects such as the Fullerton Bay Hotel, NUS University Town’s Education Resource Centre, and Madison Residences. KSH is a well-established property developer listed on the Mainboard of the SGX-ST. They have expertise in the commercial, residential, mixed-use, and industrial sectors in Singapore.
CMLC and CLC are renowned for community engagement and good mix of experience in property development and construction work in Singapore. They take comments from the public into consideration when making decisions. This ensures the smooth running of the project. They also follow the Public Sector Standard Conditions of Contract (PSSC) to ensure that the project is completed on time.
HDB has a diverse portfolio, ranging from housing developments to ancillary facilities like markets and vendor centres. They also undertake infrastructure works and land reclamation projects within HDB towns. They are also familiar with the various regulations and procedures governing these projects.
The shareholders of Chuan Investments have extensive experience in Singapore’s property development industry. They include Tng Kay Lim, founder of Kay Lim Holdings, and Yang Tse Pin, who is a businessman with over three decades of property development experience.