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The Former Mayfair Gardens Enbloc Site May Be Launching Soon
07-08-2018, 02:08 PM.
Post: #1
The Former Mayfair Gardens Enbloc Site May Be Launching Soon
Oxley Holdings bought 11 enbloc sites in a spending spree over the last 2 years.  So now after successfully launching 4 of them, namely Verandah Residences (that sold out within 3 months), Affinity at Serangoon (doing so-so, as possibly the pricing is a bit high for its location), Sixteen35 (a small project, only a handful of units left), and the most recent Riverfront Residences (selling steadily after its 5th July night debut), what is the next target on their launch horizon?

It could be Parkwood Residences at Yio Chu Kang.  Or they could decide to launch it at the same time as the former Mayfair Gardens site, since Parkwood Residences is a small project.  They have been reported to say they intend to "price it to sell", which should make it an interesting fight with the upcoming Fourth Avenue launch.

One thing about Oxley is that they do tend to price at below competing projects.  Like Riverfront Residences, that averaged around $1,2xx PSF at its launch, below that for Twin VEW and Tapestry.  And certainly below the current pricing for Kingsford Waterbay, even though Riverfront has the advantage of being within walking distance to Hougang MRT station and town centre if you don't mind walking 12 minutes or so, including crossing an overhead bridge. 

Anyway, we hope Oxley will do the same here.  Especially since Oxley did buy the former Mayfair Gardens condo site for a lower price PSF than the Fourth Avenue site.  It is around 5 minutes walk to the King Albert Park MRT station and Bukit Timah Plaza, and is within a nice residential area in Bukit Timah.  The only fly in the ointment is that it is 99 years leasehold, not freehold.  But people seem to mind that less these days, especially since well located sites have the prospect of being sold in collective enbloc sales in the decades to come, so it is immaterial anyway.

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07-08-2018, 06:30 PM.
Post: #2
RE: The Former Mayfair Gardens Enbloc Site May Be Launching Soon
Latest update: it is going to be launched soon.  There will be 387 units, comprising 1 bedroom to 5 bedroom apartment types. Facilities will include the usual swimming pool, BBQ pits, a clubhouse, and covered car park.  And the developers (JV of Oxley Holdings and the Lian Beng Group) have decided to re-cycle the name of the previous condominium on the site, so Mayfair Gardens it is.  The Mayfair Gardens showflat will likely open sometime next month, in September.  It will also still be a low-rise 5 storey high development.  Hopefully they will keep many of the old trees on the site.  You can see from the picture below, how tall some of these trees are!  Takes years to get to that stage.

[Image: Original-Mayfair-Gardens.jpeg]

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