Kent Ridge Hill Residences
Following the acceptance of their bid worth $418 million, Oxley Holdings already have plans which are underway to develop Kent Ridge hill Residences condo from the formerly known Vista Park. The site is located at South Buona Vista road and is yet to undergo massive transformation according to Oxley holdings management.
The individual owners of Kent Ridge Hill Residences (Former Vista Park) condominium came into agreement to sell the property to Oxley Spinel Pte ltd that currently owns the whole of the residence-to-be site.
The upcoming Kent Ridge hill residences will be built on a 319, 250 sq. ft. land and can only be raised to five storey with a plot ratio of 1.4. This translates to a gross floor area measuring approximately 446,951 sq. ft. the size is large enough to accommodate up to 530 units of condo having a standard size of around 800sq ft.
Teakhwa real estate, the brokerage company that sold the land to Oxley, is said to have turned down 5 bids. This came after the land was offered in an en bloc sale in Nov 17, with a price mark of $350 million. The Kent Ridge hill residences price offered by Oxley exceeded the asking price by 19.4% and they eventually managed to acquire the property.