Versailles condominium at Guillemard Road was put up for collective sals recently. This old four Storey residential development was built in the early 1990s and is the first time put up for en-bloc. This development is expected to generate interest among owner-occupiers and investors due to its proximity to the upcoming Paya Lebar Central commercial hub and a lack of supply of new residential projects in the vicinity. The owners are expecting to received between S$105 million and S$110 million for the enbloc sales.
This freehold site has a land area of approximately 53,073 sqft . It could potentially be built up to 24 storeys subject to approval and yield up to 148 units.
This translates to about S$1,088 to S$1,133 psf per plot ratio, including development charge. Unit owners may get between S$1.28 million and S$2.4 million each, according to sole marketing agent Jones Lang LaSalle.
The collective sale of Versailles comes after successful en bloc deals last month, including the freehold Kismis Lodge, which sold for S$84.2 million, and Ultra Mansion, which sold for S$149 million. Kovan Lodge, the first residential site to be put up for collective sale after new cooling measures were announced in January, remains unsold