# Serenity Park Returns To En Bloc Market At $440M - **Source:** Stacked Homes - **Published:** 2026-09-18T11:47:56.000Z - **Author:** Sihan Chia - **Original:** https://stackedhomes.com/at-440m-and-77m-serenity-park-pek-chuan-building-are-back-on-the-en-bloc-market-at-lower-prices/ - **Topics:** Private Residential, New Launches, Transactions & Deals ## Featured rationale The lower prices may improve developer interest in a suburban freehold residential site and flexible city-fringe commercial redevelopment amid recently eased collective-sale and ABSD rules. ## AI summary Serenity Park relaunched its collective sale at $440 million, 12.9% below February’s $505 million guide price, while Pek Chuan Building reduced its reserve to $77 million. ## Original article Although we haven’t seen a surge in successful en bloc deals so far this year, some property owners appear confident enough that they are testing the waters. Two developments launched their respective collective sale tenders earlier this week. The freehold Serenity Park is trying for a second time this year to secure a buyer, while Pek Chuan Building looks to entice investors and developers to pick up the commercial building. Both properties are exclusively marketed by Mount Everest Properties. The owners of Serenity Park, a 179-unit development on Tamarind Road, had launched a collective sale tender of the District 28 property in February this year. Back then, the 248,173 sq ft condo off Yio Chu Kang Road had a guide price of $505 million, which works out to $1,453 psf per plot ratio (ppr). But the new reserve price of $440 million is a significant reduction of about 12.9% compared to its asking price seven months ago. The reserve price now works out to $1,266 psf ppr. The site has a plot ratio of 1.4 and if it is redeveloped, the new project would be subject to a five-storey height limit. Serenity Park is a freehold development nestled next to a low-rise landed housing estate. (Map: URA) Serenity Park is the only condo in a low-rise landed estate off Yio Chu Kang Road. Educational institutions in the area include Rosyth School, ITE College Central and Anderson Serangoon Junior College. While a lower reserve price may catch the attention of some developers, especially those who are keen to add a suburban freehold development site to their land bank, it would also depend on other factors like the site’s proximity to the Central Expressway (CTE) and Yio Chu Kang Road. The private treaty exercise for the collective sale of Serenity Park ends on September 30. Commercial Pek Chuan Building’s flexibility for future use Meanwhile, Pek Chuan Building on 116 Lavender Street is also hoping to entice developers and investors. The Jalan Besar property offers a rare chance to acquire a city-fringe commercial site for redevelopment. This is the third enbloc attempt by the owners of Pek Chuan Building. The property launched a collective sale tender in March this year, listing the property for $80 million. Before that, it tried to find a buyer when it was put up for sale at the same price in October 2025. Today, the reserve price for the 99-year leasehold property has been lowered to $77 million, which translates to $1,073 psf ppr. The development has about 56 years left on its lease. Pek Chuan Building is back on the market at a lower reserve price of $77 million. (Picture: Mount Everest Properties) The property sits on a 28,700 sq ft site, and the four-storey building has a gross floor area of 71,750 sq ft. The existing building has retail units on the first to third floors, with office units on the fourth floor. Under the latest Master Plan, the site is zoned for commercial use with a plot ratio of 2.5, and a height restriction of up to 12 storeys. However, the marketing agent says that the new owner might consider a change of use, if the site is to be redeveloped. Potential alternative uses include a hotel or a mixed-use development, subject to approvals. Some of the nearby hotels in the vicinity include Arcadia Hotel, Mercure Singapore Tyrwhitt and Aqueen Prestige Hotel Lavender. The site is also close to Bugis and its concentration of retail and F&B, education institutions and hospitality developments. This includes Bugis Junction, Bugis+, Bugis Village, Sim Lim Square, Singapore Management University (SMU), School of the Arts (SOTA), Lasalle College of Arts and Nanyang Academy of Fine Arts. The existing commercial building is close to a couple of public transport nodes, namely Bendemeer MRT station on the Downtown Line, and Lavender MRT station on the East-West Line. Pek Chuan Building is served by two MRT stations – Bendemeer on the downtown Line, and Lavender on the East-West Line. (Map: URA) Are we seeing the emergence of a more buoyant enbloc market? The second half of 2026 has seen the proposal and implementation of some major changes to the collective sale market in Singapore. From July 29, the ABSD regime imposed on developers has been adjusted. Eligible developers will need to meet the development timelines in order to qualify for the 35% Additional Buyers Stamp Duty (ABSD) upfront remission. Developers now have an extended timeline of up to seven years for mega developments yielding over 1,400 units, and six years for large sites yielding 700 to 1,399 units to complete and sell redevelopment projects. On September 8, the Parliament passed an amendment to the Land Titles (Strata) Bill 2026 for collective sales consent threshold to be lowered. The threshold was reduced from 80% to 70% for buildings aged 40 – 59 years, and 65% for buildings 60 years and older. For buildings less than 10 years, the threshold remains at 90%. News of these changes may have spurred a more confident attribute among some property owners, especially those in older developments. The highlight of the year is the sale of Tan Boon Liat Building, while other developments are testing the waters too, such as Trendale Tower. Although Serenity Park and Pek Chuan Building may have returned to the en bloc market at lower prices compared to their previous attempts, they represent two very different redevelopment propositions. Serenity Park offers a large residential site which may appeal to developers looking for a niche freehold site to add to their landbank. Pek Chuan Building offers a smaller city-fringe commercial site with potential for alternative uses. ## Chinese translation > Translation model: grok_cli ### Serenity Park以4.4亿新元重返集体出售市场 位于劳明达街的Pek Chuan Building，以及杨厝港路附近的永久地契项目Serenity Park均已挂牌，分别开价7700万新元和4.4亿新元，招标及私人协议截止日期均在今秋。 尽管今年迄今尚未出现集体出售成交激增的局面，但部分业主似乎信心充足，开始试水。本周早些时候，两个项目分别启动了集体出售招标。 永久地契项目Serenity Park今年第二次尝试寻找买家，而Pek Chuan Building则希望吸引投资者和开发商接手这栋商业楼。两处物业均由Mount Everest Properties独家代理。 位于Tamarind Road、共有179个单位的Serenity Park业主，曾于今年2月为这处第28区物业启动集体出售招标。当时，这栋位于杨厝港路附近、占地248,173平方英尺的共管公寓指导价为5.05亿新元，相当于每平方英尺容积率（ppr）1,453新元。 但新的底价4.4亿新元，较七个月前的开价显著下调约12.9%。目前底价相当于每平方英尺容积率（ppr）1,266新元。该地块容积率为1.4，若进行重建，新项目将受五层楼高限制。 Serenity Park是一处永久地契项目，毗邻低层有地住宅区。（地图：市区重建局URA） Serenity Park是杨厝港路附近低层有地住宅区内唯一的共管公寓。该区教育机构包括乐斯小学（Rosyth School）、工艺教育学院中区学院（ITE College Central）以及安德逊实龙岗初级学院（Anderson Serangoon Junior College）。 较低的底价或能吸引部分开发商关注，尤其是希望将郊区永久地契发展地块纳入土地储备的开发商，但也将取决于其他因素，例如该地块靠近中央高速公路（CTE）和杨厝港路的位置。 Serenity Park集体出售的私人协议程序将于9月30日截止。 商业项目Pek Chuan Building未来用途的灵活性 与此同时，位于劳明达街116号的Pek Chuan Building也希望吸引开发商和投资者。这处惹兰勿刹物业提供了收购市区边缘商业地块用于重建的难得机会。 这是Pek Chuan Building业主第三次尝试集体出售。该物业于今年3月启动集体出售招标，挂牌价为8000万新元。此前，它曾于2025年10月以同样价格求售，试图寻找买家。 如今，这处99年地契物业的底价已下调至7700万新元，相当于每平方英尺容积率（ppr）1,073新元。该项目地契剩余约56年。 Pek Chuan Building以更低的7700万新元底价重返市场。（图片：Mount Everest Properties） 该物业占地28,700平方英尺，四层楼建筑总楼面面积为71,750平方英尺。现有建筑一至三层为零售单位，四层为办公单位。 根据最新总体规划，该地块划为商业用途，容积率为2.5，高度限制最高12层。 不过，营销代理表示，若地块进行重建，新业主或可考虑更改用途。潜在替代用途包括酒店或综合用途项目，须获批准。附近酒店包括Arcadia Hotel、Mercure Singapore Tyrwhitt以及Aqueen Prestige Hotel Lavender。 该地块也靠近武吉士及其零售餐饮、教育机构和酒店业项目的集中地带。这包括Bugis Junction、Bugis+、Bugis Village、新林广场（Sim Lim Square）、新加坡管理大学（SMU）、新加坡艺术学校（SOTA）、拉萨尔艺术学院（Lasalle College of Arts）以及南洋艺术学院（Nanyang Academy of Fine Arts）。 现有商业楼靠近两处公共交通节点，即市中心线上的明地迷亚地铁站（Bendemeer MRT），以及东西线上的劳明达地铁站（Lavender MRT）。 Pek Chuan Building由两座地铁站服务——市中心线上的明地迷亚站，以及东西线上的劳明达站。（地图：市区重建局URA） 我们是否正在看到更活跃的集体出售市场兴起？ 2026年下半年，新加坡集体出售市场迎来了一些重大变革的提出与实施。 自7月29日起，针对开发商的额外买方印花税（ABSD）制度已作出调整。符合条件的开发商须满足开发时限，才能获得35%额外买方印花税（ABSD）预缴减免的资格。 开发商现在获得延长时限：可供应逾1,400个单位的超大型项目最长七年，可供应700至1,399个单位的大型地块最长六年，以完成并售出重建项目。 9月8日，国会通过《2026年土地业权（分层地契）法案》修正案，以下调集体出售同意门槛。楼龄40至59年的建筑，门槛从80%降至70%；楼龄60年及以上的建筑降至65%。楼龄不足10年的建筑，门槛仍为90%。 这些变革的消息或已激发部分业主更自信的态度，尤其是较旧项目的业主。今年的亮点是陈文烈大厦（Tan Boon Liat Building）的出售，而其他项目也在试水，例如Trendale Tower。 尽管Serenity Park和Pek Chuan Building此次重返集体出售市场的价格较此前尝试有所下调，但它们代表了两种截然不同的重建命题。 Serenity Park提供了一块大型住宅地块，或能吸引希望将利基型永久地契地块纳入土地储备的开发商。Pek Chuan Building则提供了一块较小的市区边缘商业地块，并具有改作其他用途的潜力。