Kennedys Legal Solutions advises on sale of Gloria Mansion
We are delighted to announce that Kennedys Legal Solutions, via its joint law venture partner Legal Solutions LLC, acted on the recent sale of Gloria Mansion, which was sold enbloc for SGD 70.3 million. This is the first full residential collective sale, since the additional real estate cooling measures came into force in Singapore on 16 December 2021.
The specialist property team at Legal Solutions LLC advising on the sale is comprised of Directors and Partners Patrick Ee and Christopher Yong, along with Amanda Tai, Senior Associate and Alson Tan, Associate. The sale of Gloria Mansion remains subject to the Strata Titles Board’s approval.
Located at 292 Pasir Panjang Road, Gloria Mansion is a 12-storey residential development with 31 apartments, close to Haw Par Villa MRT station and is accessible by the West Coast Highway and Ayer Rajah Expressway (AYE). It has a total site area of 45,742 sf with a plot ratio of 1.4. The Gross Floor area without balcony is 64,039 sf.
Given its proximity to the future Greater Southern Waterfront, Gloria Mansion presented an exceptional redevelopment opportunity for developers who sought to create an iconic residential development in Singapore.
Along with acting on the sale of Gloria Mansion, the specialist property team at Legal Solutions LLC has advised on over 45 collective sale projects, comprising residential, commercial and mixed-use developments.
On the sale of Gloria Mansion, Patrick Ee states: "We are delighted to be the legal advisers of choice on high profile sales such as Gloria Mansion, which is another historical site here in Singapore. Interest in the site was high, which was unsurprising considering the opportunity it offered to developers seeking to create another standout residential development in Singapore."
Christopher Yong added: "Our proven track record in providing decisive, sustainable solutions and for delivering advice at a strategic level throughout the real estate life cycle continues. Our involvement in the sale of Gloria Mansion is another testament to the leading expertise and experience across our specialist property team. It is a pleasure for us to be involved in this deal and we extend our congratulations to all parties involved!"