Oxley Holdings bags plump site Mayfair Gardens at Rifle Range Road off Dunearn Road for $311 million.
New Condo Launch
Mayfair Gardens sits on a land size of more than 200,000 square feet, and plans to offer about 387 units. With an additional top-up premium for the lease to a fresh 99 years, the land price is about $1,244 per square foot (psf) per plot ratio (ppr). This would bring the Breakeven Price for this new condo launch to an estimated $1,780 psf.
This Residential site comes with a gross plot ratio of 1.4 which allows for redevelopment potential to attain a maximum permissible gross floor area (GFA) of 291,865 sqft.