National Aerated Water sells Serangoon Road site to Malaysia developer

Malaysia-listed developer Selangor Dredging is buying a freehold site in Serangoon Road from National Aerated Water Company for $47 million.

The plot at 1177 Serangoon Road has a two-storey art-deco-styled industrial building on the site.

National Aerated Water Company, which was known for its distributorship of soda pops such as Sinalco and Kickapoo Joy Juice, operated a bottled soft drinks factory there until operations ceased in the 1990s. Continue reading

More sites for private homes may be released

The Government is preparing for its next land sales exercise against a backdrop of bullish bids for sites and a declining stock of unsold private homes.

This could nudge it to release more plots in this exercise – after a spell of trimming supply to a muted market, analysts said.

Land tenders this year have mostly been competitive, with some developers tabling aggressive bids to replenish their land banks. Continue reading

URA launches West Coast Vale site for sale

A residential site at West Coast Vale that could yield up to 520 units was launched for sale by the Urban Redevelopment Authority (URA) yesterday.

Analysts expect it will receive “warm interest” from developers but not the sort of aggressive bidding seen for better located plots recently.

“In some land tenders this year, we have seen 13 to 14 bids for sites… For this plot, I think there’ll be… six to eight,” said PropNex Realty chief executive Ismail Gafoor. Continue reading

Developers bid big for Margaret Drive site

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.

The offers for the 22,195 sq m site easily exceeded market expectations, with the super-aggressive one from MCL Land (Regency) catching analysts’ eyes.

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. Continue reading

3 prime apartment buildings near Orchard Road sold for $190.5m

Three plum residential buildings near Orchard Road have been sold to three different developers for a total of $190.5 million.

Property consultancy firms JLL and CBRE said in a joint statement yesterday that the tenders for the freehold properties in Grange Road, Cuscaden Walk and Hullet Road were launched in October with a total guide price of $185 million. The firms jointly managed the tender exercise, which closed on Nov 2, on behalf of vendors seeking offers for the buildings individually or as one lot.

In September, the three properties, owned by a group of three investment holding firms, were estimated to fetch $200 million in total. The owners were reportedly part of a trust operating in Britain. Continue reading

Six govt agencies under one roof at Tampines’ new hub

A new community and lifestyle hub in Tampines with some services operating round the clock was officially opened yesterday.

A key feature of the sprawling Our Tampines Hub, which sits on 5.3ha of land – the size of about seven football fields – is a first-of-its-kind Public Services Centre housing six government agencies under one roof.

This means residents can register for People’s Association (PA) activities or pay Housing Board-related fees like mortgage payments or parking fines at a 24-hour e-lobby. Continue reading