Tampines Avenue 10 (Parcel C) By CDL

GOOD CONNECTIVITY

The site is conveniently linked to the city and rest of the island via major arterial roads and expressways such as Tampines Expressway and Pan Island Expressway.

RECREATION

Residents can engage in outdoor recreation activities or enjoy a leisurely walk at Bedok Reservoir Park.

SCHOOLS

The future residential development is an ideal home for families with school-going children. Numerous schools located within the vicinity include Temasek Polytechnic, United World College of South East Asia (East Campus) and St. Hilda’s Primary and Secondary Schools. Continue reading

Upcoming District 9 condos to stir buying interest

Two prime condominium projects are slated to hit the market in the second half of the year amid a significant pick-up in new private homes sales recently.

Analysts say the District 9 projects – GuocoLand Group’s Martin Modern and New Futura by City Developments (CDL) – are likely to interest local and foreign buyers if developers can price the units “correctly”.

Cushman and Wakefield research director Christine Li believes Martin Modern will be well-received, “as the high-end residential market seems to be bottoming”. Continue reading

Former Cecil House office building up for sale

SINGAPORE – An 11-storey office building on Cecil Street is up for sale at an indicative price of S$210 million.

The property at 139 Cecil Street, formerly named Cecil House, sits on a 99-year leasehold land site of approximately 7,936 square feet.

The office block is currently vacant, and the owner intends to re-develop it into a new 16-storey boutique commercial building with office space, ground-level food and beverage outlets and car park facilities, according to a press release pn Monday (April 24) from its sole marketing agent, Cushman &Wakefield, launching an expression of interest exercise. Continue reading

URA launches sale of Stirling Road site, landed housing parcel in Hougang

SINGAPORE – Two private residential sites at Stirling Road and Lorong 1 Realty Park were launched for sale by the Urban Redevelopment Authority (URA) on Thursday (April 20).

The 99-year leasehold sites together can potentially yield about 1,160 residential units.

The land parcel at Stirling Road in Queenstown was triggered for sale after a developer committed to bid at no less than S$685.25 million. That bid translates to S$718 per square foot per plot ratio based on the site’s maximum gross floor area of 88,660 square metres. Continue reading

Rare row of six Peck Seah Street conservation shophouses up for sale

SINGAPORE – A row of six adjoining conservation shophouses in Tanjong Pagar has been put up for sale via expression of interest for an indicative price of S$57.8 million.

Marketing agent JLL said n Wednesday (19 April) that the guide price for the six units – 48 to 56 Peck Seah Street – works out to about S$2,900 per square foot on the existing gross floor area of 19,938 sq ft.

The shophouses, which are owned by a private equity fund, have a 33-metre wide main road frontage and are near the Tanjong Pagar MRT station. Continue reading

Malaysian developer S P Setia to build $457 million luxury condo in Singapore

KUALA LUMPUR – S P Setia Bhd, having beat 24 other bidders for a plot of land at Toh Tuck Road in Singapore, plans to develop a five-storey luxury condominium there with a gross development value of S$457 million.

In a statement, the property developer said the 4.6-acre site, for which it was reported to have made the highest bid of S$265 million or S$939 per sq ft of gross floor area, would represent its third development in the republic. Continue reading

HDB leases and what’s in store for retirement as society ages

National Development Minister Lawrence Wong’s blog post of March 24, in which he cautioned buyers of older resale flats against paying high prices on the assumption that their flats would be “Sers-ed”, has set some home owners thinking and counting down the remaining years on their HDB flat leases.

Mr Wong made clear that the Selective En bloc Redevelopment Scheme (Sers) – under which the HDB acquires ageing blocks for redevelopment, compensates residents at market rates for their old flats and lets them buy new units nearby at subsidised rates – was never intended for all flats.

Interviews with home owners in three mature estates of Toa Payoh, Queenstown and Geylang – where, from 2014 to last year, there were the most resale transactions of flats with less than 60 years left on their 99-year lease – found that many had indeed expected a windfall from Sers. Mr Wong’s word of caution has left young home owners – like the one who gave his name only as Mr Lim, 30, who bought a Lorong 8 Toa Payoh flat two years ago – wondering whether he will still have a home when his lease expires in 57 years. Continue reading