Jansen Mansions In Kovan Area Sold Via Collective Sale For $19.1 Million

SINGAPORE, 29 June 2022 – PropNex Realty, the largest real estate agency in Singapore is pleased to announce that Jansen Mansions at 25 Jansen Road - in the Kovan area - has been collectively sold for $19.1 million to Macly Capital Pte Ltd in a public tender, which closed at 2pm on 28 June 2022. The collective sale tender was launched on 2 June 2022.

The sale price – which is slightly above the owners’ reserve price of $18.9 million – works out to an estimated land rate of $871 per square foot per plot ratio (psf ppr) inclusive of development charges, and $863 psf ppr after factoring in the 7% bonus balcony space. This latest collective sale follows two previous unsuccessful attempts by owners to sell the property collectively in 2021 and 2018.

The 12-unit Jansen Mansions is situated on a site spanning 1,541.5 sq m (approx.16,592.7 sq ft) and has a 999-year leasehold tenure starting from 1 September 1876. Under the Urban Redevelopment Authority's Master Plan 2019, the site is zoned Residential with a plot ratio of 1.4. The site has a gross floor area (GFA) of 2,158.1 sq m (approx. 23,229.8 sq ft).

Tracy Goh, Head of Investment and Collective Sales at PropNex, said, “This year, we saw more interest in this plot of land compared to last year. Some of the attributes of Jansen Mansions that appealed to interest parties were the 999-year land lease, the bite-size quantum, and its location amidst well-established neighbourhoods of Serangoon and Kovan. The boutique residential development to be built on the site should attract would-be buyers who seek convenient access to a range of amenities yet have a home that is nestled in a tranquil and exclusive private residential area.”

Jansen Mansions is located a short distance from the Serangoon MRT interchange station and amenities nearby include the Heartland Mall at Kovan, Nex shopping mall, and the popular Chomp Chomp Food Centre, as well as the Serangoon stadium and swimming complex. There are also several schools in the vicinity, such as Zhonghua Primary School, Yangzheng Primary School, Rosyth School, St. Gabriel’s Primary School, Nanyang Junior College, Hillside World Academy and the Australian International School.

Source: PropNex