Wednesday, November 9, 2011

Enbloc News: Vista Park - Take 3!


A prime leasehold site next to Kent Ridge Park is up for sale by tender with a reserve price of $323 million.

The site, Vista Park at 50-66 South Buona Vista Road, has a potential gross floor area (GFA) of approximately 446,947 square feet.

Based on the reserve price, the land price works out to be about $824psf ppr, inclusive of a lease top-up of approximately $45.3 million.

The break even cost is expected to be $1,250 psf.

Vista Park is approximately 319,248sqft in size and currently comprises 209 residential apartments and townhouses.

Knight Frank, the sole marketing agent, will close the tender on 7 December.
Source: Channel News Asia

Some may recall that Vista Park was last put on the market in May 2011 for $338 million. So it looks like the owners have decided to reduce their reserve price by abit. Here's hoping that it will be third time lucky for them... 

Click below to see our previous post on Vista Park en bloc:
http://sgproptalk.blogspot.com/2011/05/more-enbloc-news-vista-park.html
 
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