Lakeside Apartments is now on the market with a reserve price of $240 million – the latest to wade into the wave of collective sales here.
More than 80 per cent of owners at the 134,176 sq ft site in the Jurong Lake District area have agreed to sell and the tender was launched on Tuesday.
This means each of the owners at the 120-unit development stands to pocket $2 million. Continue reading
Orchard property Park House has fetched a record collective sale price of $2,910 per sq ft per plot ratio (psf ppr), marketing agent CBRE said yesterday.
The freehold District 10 development at 21 Orchard Boulevard sold for $375.5 million. This translates to $2,910 psf ppr on the maximum allowable gross floor area of 129,035 sq ft, excluding the 10 per cent bonus for balconies.
This new benchmark price beats the previous peak of $2,526 psf ppr, which Hong Kong’s Swire Properties paid for the Hampton Court collective sale site at Draycott Park in 2013 – a deal also brokered by CBRE. Continue reading
Freehold Katong Plaza will be launched for collective sale tomorrow with a $188 million price tag, sole marketing agent Huttons Asia announced yesterday.
The expected price translates to $1,969 per square foot per plot ratio for the mixed commercial and residential development, after factoring in the payable development charge. The public tender closes at 2pm on July 16.
The site has a land area of 34,044 sq ft with a gross plot ratio of 3.0, and can yield a possible 102,133 sq ft of gross floor area (GFA) after redevelopment, Huttons Asia’s head of investment sales Terence Lian said. Continue reading
Yet another property development has been put up for sale.
Owners of the 226-unit freehold property along Farrer Road known as Spanish Village are asking for $882 million, jumping on the bandwagon of collective sales hopefuls in the prime districts.
There are at least 10 other launched redevelopment sites in the prime districts waiting for buyers. Continue reading
The owners of the 24-unit Gilstead Mansion near the Novena neighbourhood have put their development up for collective sale by public tender, with an expected price of at least $68 million.
The freehold site in Gilstead Road occupies a land area of 35,751 sq ft, and its estimated existing gross floor area of 43,463.8 sq ft translates to an effective gross plot ratio of about 1.22 times.
The expected minimum sale price of $68 million works out to about $1,564.50 per sq ft per plot ratio (psf ppr). No development charge is expected. Dunearn Gardens nearby was recently sold at $1,914 psf ppr, while Chancery Court went at $1,610 psf ppr. Continue reading
The Leonie Gardens condominium is up for collective sale with a reserve price of $800 million.
The price translates to $2,104 per sq ft based on existing gross floor area (GFA), or $2,021 per sq ft per plot ratio (psf ppr) if a 10 per cent balcony space is included, subject to approval.
The tender closes at 3pm on June 21. Continue reading
SINGAPORE – Balestier Regency, a 72-unit condominium complex off Balestier Road, has been launched for collective sale by tender on Wednesday (May 23) with a minimum expected price of $218 million, marketer Teakhwa Real Estate said.
This indicative price translates to a land rate of $1,264.9 per sq ft per plot ratio (psf ppr), including a development charge of $1.35 million. The land price would be reduced to about $1,220.9 psf ppr, if the 10 per cent bonus balcony area is included, according to Teakhwa.
In addition, the 61,951.8 sq ft freehold residential site has a plot ratio of 2.8, and an allowable height of up to 36 storeys. Continue reading