<article><a href="https://www.dealstreetasia.com/?s=Faber%20Garden">Faber Garden</a>, a freehold condominium development located at Angklong Lane, has been put on sale at an asking price of S1.18 billion ($900 million), according to marketing agent CBRE.</article>

<a href="https://www.dealstreetasia.com/?s=Faber%20Garden">Faber Garden</a>, a freehold condominium development located at Angklong Lane, has been put on sale at an asking price of S1.18 billion ($900 million), according to marketing agent CBRE.
The property, completed in 1984, comprises of 233 units and is close to Singapore Island Country Club and Lower Pierce Reservoir Park. The upcoming Bright Hill MRT Station (TE7), slated for opening in 2021, is also located right at the doorstep of the site.
CBRE said, Faber Garden has an area of around 544,738 square feet designated for residential use with plot ratio 1.6 and a height control of 12 storeys. The maximum allowable gross floor area (GFA) is approximately 871,581 square feet and 958,739 square feet (including 10 per cent bonus balconies).
With the asking price of S1.18 billion, the 233 233 apartment owners would reap gross payouts of between S$4.38 million ($3.34 million) and S$6.75 million ($5.15 million).
Three shop unit owners would get S$1.99 million ($1.52 million) to S$4.83 million ($3.68 million), said CBRE.
On its website, CBRE noted the the site could yield about 1,150 units based on the &#8220;70 sq m&#8221; guideline. Owners representing more than 80 per cent of the share value and strata area have signed the Collective Sale Agreement (CSA).
&#8220;In land scarce Singapore, large sites such as this is hardly available, or would otherwise be 99-year leasehold. Faber Garden&#8217;s attributes are exceptional – the plot is freehold; it is next to a nature reserve, and an MRT Station at its doorstep makes it a compelling development proposition,” CBRE said.
The public tender for Faber Garden will close at 3 p.m. on 23 May 2018.
Recently, a consortium led by Sustained Land Pte Ltd has bought Asia Gardens, a freehold development located along Everton Road, for S$343 million ($262 million) via a collective sale.
Completed in 1985, Asia Gardens is a 23-storey development with 80 apartment units and four penthouses. The consortium of buyers also includes Ho Lee Group, a Singapore builder and developer, and an investment holding company owned by Loi Pok Yen.
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Faber Garden, a freehold condominium development located at Angklong Lane, has been put on sale at an asking price of S1.18 billion ($900 million), according to marketing agent CBRE.

Singapore's Faber Garden property asset put on sale for $900m

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Singapore's Faber Garden property asset put on sale for $900m

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