Gloria Mansion Pasir Panjang Condo Sold En Bloc

The First Collective Site Successfully Sold After New Cooling Measures Implemented in Late 2021

Collective Sites Within Rest of Central Region (RCR) and Outside Central Region (OCR) Now Have More Love and Hunted By the Buyers, More Expected To Be SOLD This Year…

As developers still seeking for potential sites for their new projects, Gloria Mansion site at Pasir Panjang Road was targeted and pick up by one of them.

Fraxtor Capital and a consortium managed by real estate veterans Daniel Teo and Teo Teck Weng’s family offices paid S$70.3 million for the freehold plot.

The Pasir Panjang freehold property was launched for sale at S$69 million in early December last year, tender was closed on the Monday 17.

Strata AMC, the appointed marketing agent stated that they are NOT surprise by the sale, given that the site has attractive RP, good location and no payable development charge.

This will mark the second site in district 5 that sold en bloc in 2021/22, Flynn Park at 18 Yew Siang Road was acquired last year.

Gloria Mansion is a 12-storey residential development comprises of 31 apartments and the site can be redevelop into a new 59 units luxury condominium.

Zoned for residential use with a plot ratio of 1.4, the small site has a total land area of 45,742 square feet and (GFA) gross floor area of 64,039 sq ft, this is according to URA Master Plan 2019.

Gloria Mansion freehold site is located at 292 Pasir Panjang Road, in district 5 of Singapore.

The redevelopment site has ample amenities and most of them are within 1 km radius.

The nearby MRT station Haw Par Villa, is just 6 mins walk away, a bit further away is the Kent Ridge Station.

Pasir Panjang Food Centre, National University of Singapore and Kent Ridge Park are also easily reach.

The site is accessible via the Ayer Rajah Expressway and West Coast Highway and short drive to Alexandra Retail Centre and Mapletree Business City.

Tanglin Trust School, United World College of South East Asia (Dover) and Dover Court Preparatory School are the nearest International Schools.

Other schools close by are New Town Primary, Queenstown Primary and Fairfield Methodist.

It needs to mention that Gloria Mansion did launch for collective sale back in June 2018 with reserve price set at S$79 million.

They were unluckily hit by new property cooling measures in July 2018, during their tender period which failed to attract bidders.

En bloc fever at the time was quite high, amounting over S$8 billion sales, cooling measures was implemented to cool down the market.

They were unfortunately hit again by the new property curbs in December last year but luckily sale did happen this time.

Due to the owner’s willingness to bring down the price to match the buyer’s expectation and developers still hungry for more lands.

New year always bring new luck and good fortune, it seems all goes to Gloria Mansion owners.