In a recent en bloc sale, Dunearn 386 Condo has been bought by Roxy-Pacific unit at S$36.3m. this comes after the Dunearn 386 residential site off Dunearn Road in Bukit Timah was put up for collective sale by tender. The 19, 203 sq. ft site that is zoned residential featuring a gross profit ration of around 1.4 is now under the ownership of Roxy-Pacific Holdings.
Dunearn 386 Condo is a freehold residential site found in the prime district 11 of Singapore. The site houses one residential block that features 12 housing units occupying a land size of 1,784 sqm. According to the URA Master Plan 2014, this site is zoned as a residential.
Following the purchase of Dunearn 386 Condo, each owner of the units is set to receive between $2.91 million and $3.12 million which translates to around $2, 004 – $2,140 psf once the deal is sealed. Upon completion, Dunearn 386 Condo site is projected to yield 35 housing units measuring 70 sq each.
The surrounding areas of Dunearn 386 Bukit Timah is predominantly residential comprising of condo developments and landed housing. Dunearn 386 condo is also in the midst of established schools such as National Junior College, Hwa Chong Institution, Nanyang Primary and Girls’ High School all located within a 1km radius from Dunearn 386.
Furthermore, the Dunearn 386 Roxy site is well situated less than 500 meters away from Botanic Garden MRT and Tan Kah Kee MRT Station. This allows the Dunearn condo site to enjoy easy accessibility to the entire neighbourhood.
According to the news, the acquisition of Dunearn 386 Condo site will be financed using bank borrowing and the internal funds. Although the price could be high, the acquisition is a strategic move by Roxy-Pacific unit considering that the area displays excellent potential for redevelopment.
Dunearn 386, former Dunearn Court, a new condo redeveloped by Roxy-Pacific Holdings unit, RH Central will be launched in 2018/19. Official information like project launch, details, floor plans and showflat appointments can be found at https://www.dunearn386.com