104 of the 105 units of the Jervois Mansion condominium project has been sold, with Singaporeans forming the majority of buyers. Source: Jervois Mansions
Jervois Mansion, Kimen Group’s condominium project in Jervois Close within the River Valley area, sold 99% or 104 of the 105 units launched, reported The Straits Times (ST).
Located within prime District 10, the freehold project is a redevelopment of Jervois Mansion that the late founder of Kimen Group, Aw Kim Chen, built over 38 years ago. The 93,183 sq ft site previously housed three Good Class Bungalows (GCBs) that he acquired one after another in 1980.
The new Jervois Mansion features 70 units of one- and two-bedroom apartments as well as 60 units of three-bedders spread across six blocks. Given its proximity to the Bishopsgate-Chatsworth GCB area, it si a low-rise development, with each block featuring only five storeys.
The niche property developer retained 25 units of the freehold project for long-term investment.
ST noted that 29 units were taken up during a special preview. By its official launch on 16 October, buyers snapped up 103 units and only one five-bedroom unit was available by 17 October.
Singaporeans accounted for majority of the buyers.
The units achieved an average selling price of $2,548 per sq ft (psf). A 1,539 sq ft four-bedroom unit registered the highest psf price of $2,916, which works out to just under $4.49 million.
Comparatively, a unit at nearby Bishopsgate Residences went for $3,840 psf in June, while an apartment at One Jervois was resold for $2,046 psf this month. Bishopsgate Residences was completed in 2012 and One Jervois in 2009.
Jervois Mansion is Singapore’s first private residential development to have been conferred the Green Mark GoldPLUS Super Low Energy Residential Building rating – the Building and Construction Authority’s (BCA) new standard.
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“The rooftops of the six blocks will be connected by bridges, with a community urban farm and garden atop one block and a “Regenerative Woods”, a nature plot left untouched to flourish naturally, on another,” said ST.
Its roof pavilions will also feature solar panels, which will power 30% of the common facilities.
The “bungalow inspired” apartments, on the other hand, will have cross-ventilation, outdoor garden spaces and verandah-like planters.
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Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: firstname.lastname@example.org.