Located at Kovan, Jansen Mansions was sold via enbloc on 28 Jun 2022 to Macly Capital in a public tender for S$19.1 million, higher than the reserve price of S$18.9 million.
This tender follows 2 previous unsuccessful attempts by the owners to sell the property collectively in 2021 and 2018.
The first time Jansen Mansions was launched for collective sale was in 2018 with a reserve price of S$22 million. The second collective sale attempt followed early 2021 with a reserve price of S$19.8 million – which was subsequently reduced to S$18.5 million in a tender relaunch in August 2021.
29 June 2022
JANSEN Mansions at Kovan has been collectively sold to Macly Capital in a public tender for S$19.1 million, slightly higher than the reserve price of S$18.9 million, marketing agent PropNex Realty announced on Wednesday (Jun 29).
The tender, which closed on Jun 28, follows 2 previous unsuccessful attempts by owners to sell the property collectively in 2021 and 2018.
Located at 25 Jansen Road, the 12-unit development sits on about 16,592.7 square feet (sq ft) of land with a plot ratio of 1.4 and a gross floor area (GFA) of about 23,229.8 sq ft. It is zoned for residential use, with a 999-year leasehold tenure starting from Sep 1, 1876.
After factoring in the 7 per cent bonus balcony space, the new sale price translates to a land rate of S$863 per square foot per plot ratio inclusive of development charges.
The owner’s second collective sale attempt early last year saw a reserve price of S$19.8 million – which was subsequently reduced to S$18.5 million in a tender relaunch in August 2021. The first time Jansen Mansions was launched for collective sale was in 2018 with a reserve price of S$22 million.
1 June 2022
KOVAN'S Jansen Mansions will be put up for collective sale for the third time with an increased reserve price of S$18.9 million on Jun 2, marketing agency PropNex Realty announced on Wednesday (Jun 1).
Located at 25 Jansen Road, the 12-unit development sits on about 16,592.7 square feet (sq ft) of land with a plot ratio of 1.4 and with a gross floor area (GFA) of about 23,229.8 sq ft. It is zoned for residential use, with a 999-year leasehold tenure starting from Sep 1, 1876.
After factoring in the 7 per cent bonus balcony space, the new reserve price translates to a land rate of S$855 per square foot per plot ratio inclusive of development charges.
"The Jansen Mansions collective sale site can be redeveloped to offer 21 dwelling units with an average size of 100 square metres," said Tracy Goh, head of investment and collective sales at PropNex.
The owner's second collective sale attempt early last year saw a reserve price of S$19.8 million - which was subsequently reduced to S$18.5 million in a tender relaunch in August 2021. The first time Jansen Mansions was launched for collective sale was in 2018 with a reserve price of S$22 million.
17 Feb 2021
THE owners of 999-year leasehold condominium Jansen Mansion are making a second attempt at a collective sale on Thursday, this time at a lowered reserve price of S$19.8 million from S$22 million in 2018.
The new reserve price translates to a land rate of S$879 per square foot per plot ratio, inclusive of development charge and 7 per cent bonus balcony space.
Located in the Kovan area, the 12-unit Jansen Mansion sits on a land plot spanning about 16,592.7 square feet (sq ft). Its 999-year leasehold tenure started from Sept 1, 1876.
The site is zoned for residential use with a plot ratio of 1.4 under the Urban Redevelopment Authority's Master Plan 2019. Its gross floor area is about 23,229.8 sq ft, or a total of 24,855.9 sq ft inclusive of bonus balcony space.
Tracy Goh, PropNex's head of investment and collective sales, said subject to relevant approvals, the successful tenderer will be able to build 21 new residential units on the plot.
PropNex believes Jansen Mansion's land rate is "very attractive" compared to the firm land bids tabled in public land tenders in 2020, she noted.
3 July 2018
TWO more residential sites have been launched for collective sale on Tuesday (July 3), which their marketing agent says are suitable for boutique developers.
The owners of Jansen Mansion, a 12-unit development near Kovan MRT station, have all voted for the sale and are asking for S$22 million. The 16,592.55 square foot site has 857 years left on its 999-year lease, with a plot ratio of 1.4 and a height limit of up to 5 storeys.
Marketing agent Huttons Asia estimates that the prospective developer can redevelop the site into a 21-unit project, with each unit averaging about 100 square metres.
"The prospective developer can expect a strong demand from buyers given its close proximity to Kovan MRT station and Heartland Mall," said Huttons Asia.
A development charge (DC) of S$1.14 million will be payable to build up to the plot ratio of 1.4 and another S$1.74 million to build an additional 10 per cent of balcony space. Including the DC, the land rate works out to S$996 per square foot per plot ratio (psf ppr), or S$974 psf ppr including the 10 per cent bonus balcony space.