Will the Freehold Serenity Park’s $505M Collective Sale Succeed in Enticing Developers?
Serenity Park, a freehold condominium on Tamarind Road, has been launched for collective sale at an asking price around $505 million.
The 179-unit development sits on a 248,173 sq ft off Yio Chu Kang Road in District 28. The asking price translates to about $1,453 psf per plot ratio (psf ppr).
The existing development comprises 10 five-storey residential blocks. The site is zoned for residential use with a plot ratio of 1.4 and height control up to five storeys, based on the latest Master Plan.
The collective sale of Serenity Park is marketed by Mount Everest Properties. The company previously marketed the collective sale of Pek Chuan Building last year, and the former GSM Building in 2023.
It is rare to see the collective sale of a sizable freehold residential site in the market, and it will likely be seen as an opportunity to acquire a freehold site for development in a mature and established residential area….
