Residential

Freehold Cavenagh Gardens on the collective sale market

The site located along Cavenagh Road is asking for $460 – 480 million or $1,708 – $1,782 psf ppr based on a 2.1 gross plot ratio (excluding balcony allowance) or $1,553 to $1,620 psf ppr (including balcony allowance). The 128,256-sq ft site is zoned residential and has a 269,338 sq ft potential GFA, which can be further expanded to 308,920 sq ft if it can be amalgamated with adjoining state land which would bring the total land area to around 150,000 sq ft, and the development is granted the Green Mark GFA incentive or bonus balcony gross floor area. This would also bring the price to $1,598 psf ppr (excluding balcony allowance) or $1,394 to $1,453 psf ppr (with balcony allowance) or lower with the Green Mark GFA incentive. The expected breakeven cost and sale price of units of a ...