Pine Grove in Ulu Pandan Road District 21 is for sale at for $2 mil price

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A three-bedroom house in Pine Grove is on the market for sale at a cost of $2 million or $1,199 per square foot, in the owner’s offer. The property is located just off Ulu Pandan Road in District 21, Pine Grove is an 99-year leasehold condominium which was completed in 1984. Formerly a HUDC development with 660 units, the project is comprised of multiple blocks on an site that covers 893,000 square feet. The project was privatised in the late 1990s.

The unit that will go going up for auction on August 31 is in the upper echelon. It is comprised of 1,668 square feet, spread between two levels. “The building was upgraded approximately five years prior to the present owner,” says SRI Auction’s managing partner Mok Sze Sze, who is in charge of the auction. Based on caveats filed by the previous owners, the property was bought at $1.05 million ($629 per square foot) in June 2016.

The lower level houses the dining and kitchen area and the upper floor has a large living space which opens onto an outdoor balcony. The bedrooms are all on the upper floors and include the master bedroom that includes an en suite bathroom. The upper floor is also home to an area for families, a service balcony and utility room.

The amenities in Pine Grove include a swimming pool and barbecue area, a tennis court, basketball court as well as a function space, fitness center and mini-mart. The condominium complex also provides easy connection to Ulu Pandan Park Connector, that runs through the Sungei Ulu Pandan Canal and is connected with other estates such as the Ghim Moh, Clementi and Sunset residential estates.

Other facilities nearby are Clementi Mall, Ghim Moh Market and Food Centre, and Holland Village, all of that are within a brief driving distance from Pine Grove. The property is a great choice for families with children in school as it is close to Henry Park Primary School, Pei Tong Primary School and Singapore Polytechnic.

The owners of the units at Pine Grove have made a number of collective sales during the last few years. The most recent attempt came in the year 2019 when the project was opened for auction with the reserve price that was $1.86 billion.

Pine Grove is also located within the two Government Land Sale (GLS) sites -the Pine Grove Parcel A and Parcel B, both of which are 99-year leasehold sites. The auction for the latter was made in June to a joint venture 80/20 that was formed between UOL Group and Singapore Land Group (SingLand) that made a bid of $671.5 million ($1,318 psf/plot ratio) just narrowly beating the second highest tenderer Allgreen Properties by just $800.

The joint venture UOL-SingLand is planning to construct a residential development of 520 units in the Parcel A site. Based on the analysis of EdgeProp LandLens, the new project could go up for sale with prices of around $2,400 per square foot with that there is a developer profit margin at 15%.

In the meantime, Pine Grove Parcel B is in the GLS Reserve List. The 269,520 square feet site could yield 565 units.