Built in 1990, the 314-unit Kensington Park Condominium in Serangoon Gardens is located on Kensington Park Drive; the land it sits on has a 999-year tenure which started in 1878. The sprawling 491,000 square foot rectangular plot is nestled within the affluent, low-density Serangoon Gardens landed neighbourhood.
In 2018, Kensington Park unit owners were aiming for a collective sale at a price of S$1.05 billion, which was not successful.
In 2022, Kensington Park launched another collective sale attempt by public tender with a guide price of S$1.28 billion.
And in their most recent attempt, Kensington Park relaunched their collective sale attempt in Feb 2023 at the unchanged price of S$1.28 billion.
Besides condo units, developers can potentially add strata-landed houses to the unit mix given Kensington Park’s location in Serangoon Gardens.
|PROJECT NAME||KENSINGTON PARK|
|LAND SIZE (SQM)||45,628|
|MASTER PLAN GFA (SQM)||94,470|
|MASTER PLAN PLOT RATIO||2.1|
|STREET NAME||KENSINGTON PARK DRIVE|
|TENURE||999 YRS FROM 1878|
|DISTRICT / PLANNING AREA||D19 / SERANGOON|
|NUMBER OF UNITS||314|
Kensington Park is located near to the upcoming Serangoon North MRT, an interchange between the North-East Line and Cross Island Line.
9 Feb 2023
KENSINGTON Park in Serangoon Gardens has been launched for collective sale for the third time, again at an unchanged reserve price of S$1.28 billion.
The public tender will close on Feb 22 at 3 pm.
This comes after the last en bloc exercise closed on Nov 18, 2022 without a sale, said sole marketing agent CBRE on Thursday (Feb 9).
Located at 2, 4, 6, 8, 10 and 12 Kensington Park Drive, the 999-year leasehold condominium zoned for residential use was first put up on the market on May 18 last year, and subsequently relaunched for sale on Oct 4. The 999-year tenure of the land began in 1878.
4 Oct 2022
KENSINGTON Park condominium in Serangoon Gardens has been relaunched for en bloc sale via tender with an unchanged guide price of S$1.28 billion, sole marketing agent CBRE said on Tuesday (Oct 4).
Including a land betterment charge of S$209.8 million, the land rate works out to around S$1,444 per square foot per plot ratio (psf ppr).
After taking into consideration the 7 per cent bonus gross floor area allowed for balconies and a land betterment charge payable of around S$273.1 million, this translates to a lower S$1,407 per square foot per plot ratio.
The 314-unit property is located at 2,4,6,8,10,12 Kensington Park Drive and sits on a site spanning 491,000 square feet (sq ft). It has a leasehold of 999 years and is zoned for residential use with an allowable gross plot ratio of 2.1 and building height control of up to 24 storeys.
18 May 2022
KENSINGTON Park condominium in Serangoon has been offered for en bloc sale by public tender with a guide price of S$1.28 billion, sole marketing agent CBRE announced on Wednesday (May 18).
The latest guide price will work out to a land rate of about S$1,414 per square foot per plot ratio (psf ppr), after including the development charge (DC) payable of around S$178.1 million, CBRE said in a press statement.
8 Apr 2022
OWNERS at the 314-unit Kensington Park Condominium in Serangoon Gardens are once again eyeing a collective sale, nearly 4 years after their previous efforts at a billion-dollar price tag, The Business Times (BT) has learnt.
At least 80 per cent of the owners have consented to the potential deal this time round, and the marketing agent is understood to be CBRE. However, there is no indication yet of whether and when a tender will be launched.
A notice dated Apr 4, seen by BT, said that owners of 251 of the 314 units, making up about 80.1 per cent of the total share value and 80.2 per cent of the total area of all lots, have signed the collective sale agreement.
25 July 2018
Pine Grove is at 77 per cent, and Huttons' Mr Lian said a circular was recently sent out to ask for more signatures. Kensington Park is at 70 per cent.
7 July 2018
Huttons Asia has secured 76 per cent consent level for Pine Grove in the Pandan Valley area and 70 per cent at Kensington Park Condo in the Serangoon Garden area. "There is no turning back. We hope fence-setters will become more realistic and sign up. We are going to meet the respective sales committees next week," said Terence Lian, head of investment sales at Huttons Asia.
5 July 2018
Also in the process of getting signatures from owners is former HUDC estate Braddell View, which is said to be asking for S$2.08 billion, as well as Mandarin Gardens in Siglap, which has an asking price of S$2.48 billion; owners of Kensington Park condominium in Serangoon Gardens are looking at S$1.05 billion.