Parkway Mansion sold for $146.99mil to Sustained Land-led consortium

The freehold District 15 project of Parkway Mansion at 9 Amber Road, just opposite of Nyon Condo @ 12 Amber, has been sold en bloc to Sustained Land Pte Ltd at a land rate of $1,536 psf per plot ratio (ppr), which is based on the sale price of $146.99 million plus $120 million in development charges.

The land price of the Katong project is higher than the prices of recent en bloc sales of freehold sites in the vicinity – Amber Park ($1,515 psf ppr) which is on the neighbouring road Amber Gardens, and the two Meyer Road sites of Nanak Mansions ($1,429 psf ppr) and The Albracca ($1,409 psf ppr).

The eventual sale price of the units of the new D15 project, named Coastline Residences, could reach between $2,550 psf to $2,600 psf.