Bartley Gove Apartment, terrace houses sold for S$74.1m

Bartley Homes Pte Ltd, a wholly-owned subsidiary of Top Global Ltd, has acquired Bartley Grove Apartment (pictured) and three adjoining terrace houses for S$74.1 million. This works out to around S$810 psf ppr, making it the first pure-residential collective sale for 2012.

Located in District 19, the combined freehold site has a total land area of 65,305 sq ft. It is zoned for residential development with a gross plot ratio of 1.4 and a maximum building height of five storeys under the 2008 Master Plan.

“This land price rate sets a new benchmark for low-rise residential land in District 19, reflecting developers' continued confidence in the residential market evidenced by the healthy sales figures at nearby projects such as Casa Cambio and Bartley Residences,” noted Tan Hong Boon, Deputy Managing Director at Credo Real Estate, which brokered the deal.

Credo said each apartment owner will likely receive between S$1.25 million and S$3.24 million from the sales proceeds, while the owners of the terrace houses will gain between S$2.34 million and S$4.76 million.

Launched jointly in the en bloc sales market in February, Bartley Grove Apartment has a land area of 55,286 sq ft with an indicative price of between S$62.35 million and S$64.04 million, while the three houses have a combined land area of 10,019 sq ft and an asking price of between S$10.65 million and S$10.96 million.