Brookvale Park

SINGAPORE : Brookvale Park, a four-storey condominium nestled in the Sunset Way estate, has been put up for sale by public tender.

Marketing agent CB Richard Ellis (CBRE) said the 999-year residential site has a land area of 373,000 square feet and a permissible building height of up to 12 storeys.

It is located close to amenities and is a short drive to education institutions like Ngee Ann Polytechnic and the National University of Singapore.

It also has easy access to Orchard Road via Holland Road; as well as the Central Business District (CBD) and Marina Bay area via Ayer Rajah Expressway (AYE).

CBRE said the asking price for Brookvale Park is S$550 million.

Charles Hoon, director of investment properties, CB Richard Ellis, said: "Developers can take advantage of the site's unique hilly characteristics to incorporate balconies into their design scheme.

"The additional 10 per cent bonus balcony (subject to paying a Development Charge) will bring the land price to S$892 psf per plot ratio."

This means a potential break-even price of below S$1,400 psf.

New residential launches including The Trizon, Jardin, The Floridian, and The Cascadia have transacted between S$1,600 and over $2,000 psf, Mr Hoon said.

He added: "We expect strong local and foreign interest, in particular, parties who are considering a 'freehold equivalent' site in prime District 21. Brookvale Park is likely to be the only condominium site available in this locality."

The tender will close on July 28 at 3pm.