Sun Rosier condo fetches $200 million in en-bloc sale, 15% higher than asking price

In the latest en-bloc sale, Sun Rosier condominium near Upper Paya Lebar Road has fetched a price of S$271 million ($200 million), about 15% more than the asking price of S$235 million.

This means that the owners of the development’s 78 units stand to pocket between S$2.86 million and $4.77 million each through a winning bid from a 50:50 joint venture between SingHaiyi Properties and Huajiang International, reported The Straits Times.

SingHaiyi Properties is a unit of Singapore-listed real estate developer SingHaiyi Group.

There were a total of four bids for the freehold development in How Sun Drive when the tender closed on Thursday (Sept 21).

Late last month, owners of the condominium launched the tender for collective sale, asking S$235 million for the freehold site. This works out to about S$1,149 psf per plot for the 146,045.67 sq ft residential site, according to Huttons Asia in a Business Times report.

The development comprises apartment units spread out over four blocks of four storeys with a total strata area of 143,719.59 sq ft.