Jervois Prive is pleased to announce that the 4-storey building housing eight apartments recently sold to the top bidders of a roster of six, is expected to cost a total of S$52.9 million, which includes estimated development charges of $6.95 million. This winning bid was ten per cent above the asking price of $48 million. The winning group of investors was led by Mr. Mike Ho, owner of Spring Court, one of the oldest Chinese restaurants in Singapore.
The Jervois Prive Condo development has enormous potential with anticipated good yields especially with the recovery of the residential property market. The site is suitably located, offering exciting development potential. The plot is zoned under the 2014 Master Plan for residential use with a plot ratio of 1.4 pending approval by the authorities. The site can be redeveloped to house 5-storey buildings that are comprised of 42 units measuring 850 sq ft each.
As with any condo project, one of the key attractions is its location. The site is near several MRT stations, including the upcoming Great World MRT and Orchard Boulevard Stations on the Thomson-East Coast Line expected to be operational in 2021. The Redhill MRT station on the East-West Line can also be easily accessed from Jervois Prive. The site is also in close proximity to a plethora of amenities. Residents will be able to easily access nearby malls and excellent primary schools.
In addition to the schools at every level of education from nursery to institutions of higher learning, the daycare and child care centres in the area will ensure excellent education of children beginning at a young age. This area of Singapore is also suitable for expats, due to the availability of international schools. Children do not need to change from their home country’s educational system.
Media ContactCompany Name: Jervois Midas Pte. LtdContact Person: Mr JerEmail: Send EmailPhone: +6588385201Address:100a Jervois Road City: Singapore 249057Country: SingaporeWebsite: www.jervoisprive.com/
