Margaret Drive (D03)
A residential site in Margaret Drive drew bullish bids from 14 developers eager to replenish their land supply in the last Government Land Sales (GLS) tender for the year 2016.
MCL Land offers for the 22,195 sq m site, it lodged $238.39 million, or $997.85 per sq ft per plot ratio (psf ppr) - 7.9 per cent higher than the second-highest bid from Allgreen Properties at $220.9 million. It is located between two MRT stations, Commonwealth and Queenstown. Estimates selling between $1,700 to $1,800 psf.
The price of the Margaret Drive site exceeds those of nearby sites such as Commonwealth Towers, which cost $883 psf ppr, and Queens Peak, which cost $871 psf ppr.
Commonwealth Towers has fully sold out with average $1,729 psf and Queens Peak has sold at average $1,658 psf as of 14 Nov 2017.
Margaret Drive Location :
Margaret Drive located near the Commonwealth MRT station and is close to the Ayer Rajah Expressway.
It is close to shopping, dining and entertainment options at Queensway Shopping Centre, IKEA Alexandra and Alexandra Central. Lifestyle clusters such as Holland Village, Rochester Park and Dempsey Hill are also a short drive away.
Convenient for families with school-going children, schools such as Queenstown Primary School, Queensway Secondary School and Anglo-Chinese School (International), are located within the vicinity.
Nearest MRT Stations
-- NW20 Commonwealth MRT Station (0.58 km)
-- NW19 Queenstown MRT Station (0.6 km)
MCL Land is a leading property group in Singapore. A member of the Jardine Matheson Group under Hongkong Land Holdings, MCL Land has a long track record of building quality homes in Singapore and Malaysia over the last 50 years. The Group has an extensive portfolio of prime residential properties in Singapore and Malaysia, which are held through more than 15 subsidiaries and associates.
Our commitment is to be a premier and reputable property group, equally dedicated to providing excellent customer satisfaction and growing shareholder value.