Sun Rosier condo fetches $271m in latest en-bloc sale, 15% higher than asking price

SINGAPORE – Owners of the 78 units of Sun Rosier are set to pocket between S$2.86 million and S$4.77 million each after the condominium off Bartley Road fetched a top bid of S$271 million in Singapore’s latest collective sale, about 15 per cent more than the asking price of S$235 million.

There were four bids for the freehold development in How Sun Drive when the tender closed on Thursday, with the top three offers very close to one another, marketing agent Huttons Asia disclosed on Friday (Sept 22).

The winning bid came from a 50:50 joint venture between SingHaiyi Properties – a unit of Singapore-listed real estate developer, SingHaiyi Group – and Huajiang International. Huajiang  is controlled by Chinese tycoon Gordon Tang and his wife Serena, who are the controlling shareholders of the SingHaiyi Group.  Continue reading

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$2.09b sale of Asia Square Tower 2 is year’s biggest deal

CapitaLand Commercial Trust has scooped this year’s biggest real estate transaction by sale price after it announced a deal yesterday for Marina Bay’s prime Asia Square Tower 2.

It will fork out $2.09 billion to take the 46-floor office block off the hands of private equity giant BlackRock, in a deal that signals the recovery of Singapore’s commercial property market, industry watchers said.

The sale will yield $2,689 per sq ft (psf) for the building, which is 10 years into its 99-year lease. Continue reading

Singapore could see another en-bloc sale cross $1b mark if posh Spring Grove succeeds

Spring Grove condominium, in upmarket Grange Road, is going back on the market just three years after a failed collective sale bid.

Owners in the 325-unit estate believe they can get at least $1 billion “if not more”, a sale committee representative said yesterday. They had asked for $1.39 billion in 2014.

A $1 billion price works out to about $1,807 per sq ft (psf), based on a maximum gross floor area of 553,377 sq ft. This is above the $1,285 psf to $1,438 psf that units in the estate have fetched so far this year. Continue reading

Feature Project – Life Asoke-Rama 9 Bangkok

life asoke rama 9

life asoke rama 9 facilities deck

Developer Profile

AP (Thailand) Public Company Limited was established in 1991 to develop projects in Bangkok Metropolitan Area (BMA). Its core business today is on the development of townhouses, single-­detached houses and condominiums.

In 2000, the company was listed on the Stock Exchange of Thailand (SET). Today, AP (Thailand) PLC ranks in the Top 10 Listed Property Firms in terms of revenue.

In 2014, AP (Thailand) established a joint venture partnership with leading Japanese property developer, Mitsubishi Estate Group (MEC) co-­developing more than 8 condominium projects to date, averaging more than 85% sales take-­up rate.

AP (Thailand) had ties with Bangkok Citismart, providing clients after-sales services like buy, sell and rent properties in Bangkok.

 Project Name :  Life Asoke Rama 9
 Developer :  AP
 Address : 300m from MRT Rama 9  Station
 Type of Development :  Residential (Condominium)
 Tenure :  Freehold (Foreigners Eligible)
 Site Area: 8-3-11 Rai (Approximately)
 No. of Unit:  2 Buildings : Tower  A & Tower B
Total No. of Units : Tower A (1298Units) + Tower B (950 Units + 2 Shops
No. of Levels : Tower A ( 7-41 Floor) & Tower B (7-44 Floor)
 Car Park  905 (40%) on 2-6th Floor
 Expected TOP :  2021 (TBC)
 Facilities:  Ground FloorPocket Garden 7 and 36th floorRooftop 42 and 45 Floor

Prime Location

life asoke rama 9 location map

Bangkok’s Newest CBD & Transport Hub

Rama 9 Central Business District (CBD)
• Grand Rama 9 CBD: G Tower, THE SUPER TOWER, UNILEVER House, Central Plaza Grand Rama 9, Ninth Towers, New World Hotel Grand Rama 9, The Shoppes Grand Rama 9
• Stock Exchange of Thailand (SET), AIA Capital Centre, Embassy of China, Grand Mercure Hotel, Fortune Town, Esplanade Shopping Mall, The Streets Ratchada, Night Train Market Ratchada, Show DC Mall, RCA Lifestyle
• PhaRam 9 Hospital, Piyavet Hospital, Bangkok Hospital, Rutnin Eye Hospital, Asoke Skin Hospital
• Wattana Wittaya Academy, Srinakharinwirot University
• Asoke CBD: Terminal 21, Exchange Tower, SINGHA Complex

Transport Hub & Superb Accessibility
• Only 300m or ~3-­mins Walk to MRT Rama 9
• Only 1-­Stop to MRT Thailand Cultural Centre (Future Orange Line Interchange)
• Only 600m or 1-­Stop to Airport Rail Link (ARL) Makkasan – MRT Phetchaburi Exchange
• Only 2-­Stops to MRT Sukhumvit – BTS Asoke Exchange
• Close Proximity to the Sirat Expressway
• 2x Driveway Access & 1 Walkway Access

Comparative Market Analysis

life asoke rama 9 cma

rama-ix-super-tower

RAMA IX Super Tower, Thailand

The 615 metre-high building, expected to be built in 2025, will be nearly twice the size of the country’s current tallest, the MahaNakhon skyscraper.

Central plaza rama 9

Central Plaza Rama 9

Central Plaza Rama 9 brings a ‘one-stop lifestyle entertainment shopping’ concept to the Ratchadapisek area. The seven-story shopping plaza houses some 300 shops, plus restaurants, cafés, SFX Cineplex, The Rink Ice Arena and anchor stores such as B2S, Power Buy, Uniqlo and Robinson Department Store. Occupying a prime location at the intersection of Rama IX and Ratchadapisek Roads, Central Plaza Rama 9 has direct access to the MRT underground’s Rama IX Station at the basement level. The combined eight floors of retail space offer everything from clothing, fashion accessories, beauty salons and day spas to electronic gadgets, appliances, music and books. And if all this were not enough, the attached Robinson Department Store provides an additional five floors of similar offerings, plus a section dedicated to home décor and children’s toys.

g-tower

G TOWER

G TOWER is the premium office buildings of 26 and 36 floors. It is designed to the highest standards ensuring a stylish and comfortable state of-the-art working environment. With the 134,000 square meters of construction area for retail and office space, the project offers a rare opportunity to tenants in a prime location mixed development.


For more information on Life Asoke-Rama 9, simply fill up your details below and our salesperson will get in touch with you shortly!

Pine Grove owners expect at least S$1.65b

Pine Grove could well emerge as Singapore’s largest en bloc deal, going by its indicative reserve price of S$1.65 billion – a level that would trump the record of S$1.34 billion set in 2007 by Farrer Court, another former HUDC estate.

The owners of Pine Grove, a 660-unit estate off Ulu Pandan Road, have appointed Huttons Asia as their marketing agent, and are now hiring lawyers to work on the collective-sale agreement.

An extraordinary general meeting is to take place on Oct 29 to approve the agreement, which will require the consent of at least 80 per cent of the owners for a go-ahead to launch a public tender. Continue reading

Nanak Mansions in Meyer Road on the market with S$200m tag

The fourth freehold residential site in the Meyer-Amber roads vicinity has come on the market this year.

Unlike the earlier three offerings, this one has been quietly released for sale by its owners, who are seeking around S$200 million. The 109,629 square foot plot on Meyer Road was once part of a small golf course.

Currently on the site is Nanak Mansions, a low-rise development completed in the 1980s comprising 36 maisonettes, each with either four or five bedrooms. Their strata areas range from 2,551 sq ft to 3,584 sq ft.

The units belong to members and companies of a low-profile Singaporean Indian family, all of whom have consented to sell their units. The family developed Nanak Mansions but none of the family members live in the units. All 36 units have been rented out.

Singapore’s largest ex-HUDC estate Braddell View hopes to sell en-bloc for S$2 billion

SINGAPORE – Braddell View, the largest of Singapore’s 18 HUDC estates and the last to be privatised in March this year, is planning to jump on the en bloc bandwagon.

The 918-unit estate is holding an extraordinary general meeting on Oct 10 to form a collective sales committee to kick-start the process.

Sources told The Straits Times that the en bloc owners hope to sell the sprawling 1.124 million sq ft development for at least S$2 billion. If successful, this would easily eclipse Pine Grove’s S$1.65 billion en bloc attempt. Continue reading