SINGAPORE (Nov 20): Oxley continues to build its landbank, putting in the winning bid for Mayfair Gardens at a premium to its asking price, unfazed by the implementation of a new traffic assessment policy.

The property group this mornng announced it has snapped up the collective sale of the 124-unit Mayfair Gardens at Rifle Range for $311 million or 21% above the reserve price of $265 million. The price, which includes the premium to top up the lease, translates to a land price of $1,244 psf ppr.

See: Oxley subsidiary submits winning bid for en bloc acquisition of Mayfair Gardens

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