Laguna Park

Laguna Park, a 99 year leasehold residential site on Marine Parade Road, is up for en bloc sale. The development has a 300m frontage to the sea and with easy access to East Coast Park. It is just a short 15 minute drive to the Central Business District and eight minutes to the popular Parkway Parade shopping centre. This is the second time the 34 year old project is available for sale, and at a price tag of $1.33b. If the deals goes through, it will be the second largest collective sale in Singapore, just a shade lower than the $1.34b achieved by Farrer Court in 2007, and residents can expect to pocket about $2.2m each.

The project sits on 678,000sqft of land with a plot ratio 2.8x, translating to a GFA of nearly 1.9m sqft. Including the lease extension premium and development charge, the land cost works out to $975psf. At that price, the prospective buyer would probably have to sell the redeveloped project at $1,400psf or more in the future