Tender for executive condo site at Anchorvale Crescent launched; good response expected

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SINGAPORE – The tender for an executive condominium (EC) site along Anchorvale Crescent in Sengkang has been launched from the reserve list of the Government Land Sales (GLS) Programme.

Its tender was triggered last month with a successful application by an unnamed developer committed to a bid of at least $255 million for the 99-year leasehold site. The Housing Board (HDB), acting as state land sales agent for this site, said on Friday (Aug 10) that any tender below that price will not be accepted.

The minimum price works out to nearly $461 per square foot per plot ratio (psf ppr). Continue reading →

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Anchorvale EC site triggered for launch

carsonhuttons

A 99-year leasehold site for executive condominium (EC) housing development at Anchorvale Crescent has been triggered for launch from the reserve list of the Government Land Sales (GLS) programme.

This follows a successful application by an unnamed developer to bid at least $255 million for the site at tender. This works out to nearly $461 per square foot per plot ratio (psf ppr).

The 1.71ha site can be developed into a maximum of 550 residential units. ECs are a public-private housing hybrid. Continue reading →

Casa Sophia and Haig Road Flats up for collective sale

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Casa Sophia in District 9 is up for collective sale with a reserve price of $36 million.

Owners at the freehold, 12-unit development in Mount Sophia could receive between $2.69 million and $3.4 million.

“All owners are very supportive and we are happy to have garnered 100 per cent consensus. The location is surrounded by prestigious schools and is close to the heart of Orchard Road. Projects here will definitely appeal to both investors and families,” ERA representative Tjhai Citanegara said. Continue reading →

Blocked in 2009, Horizon Towers goes on collective sale again with $1.1b reserve price

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SINGAPORE – Back in 2009, Horizon Towers was to be collectively sold for S$500 million but the sale was overturned. Now the prime District 9 condominium has been launched for sale at a reserve price of S$1.1 billion.

Built in the late 1970s, the 99-year leasehold development comprises 211 units in two towers located on an elevated site with double road access. The 1.9ha site is zoned “Residential” in the 2014 Master Plan, with an allowable height of up to 36 storeys.

It has an “as-built” gross plot ratio of around 3.28 and may be redeveloped into a luxury high-rise residential development. This could make it the largest high-rise residential redevelopment offering in the Orchard Road area in at least two decades, said sole marketing agent JLL in a press statement on Wednesday (July 4). Continue reading →

Twenty Anson sold for $516m in biggest office property deal this year

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CapitaLand Commercial Trust (CCT) is selling Twenty Anson, a 20-storey office building in Tanjong Pagar, for $516 million in the largest office real estate deal so far this year.

The buyer is believed to be a foreign private equity fund.

After weighing several bids, Twenty Anson fetched a price that is 19.2 per cent above its valuation of $433 million done on Dec 31 last year, and 20 per cent more than the $430 million CCT paid in 2012. Continue reading →

Canberra Link EC site likely to see hot bidding

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The scarcity of land parcels released to build executive condominiums (ECs) could see developers turning their attention to the plots in Canberra Link and Anchorvale Crescent under the Government Land Sales (GLS) programme, consultants say.

The Canberra Link site was launched yesterday for sale under the confirmed list of the H1 2018 GLS programme, while the site in Anchorvale Crescent was released for application under the reserve list. Sites on the reserve list will be put up for tender only when a developer has indicated a minimum price that is accepted by the Government.

They join a private residential site in Jalan Jurong Kechil, for sale on the confirmed list, and another site in Clementi Avenue 1, under the reserve list. Together, these four sites can yield about 1,920 residential units. Continue reading →