Lakeside Apartments up for sale en bloc with $240m reserve price

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

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Park House sold for record price of $2,910 psf per plot ratio

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

Katong Plaza on sale en bloc at $188m

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

Dairy Farm Road site likely to attract keen bidding

A 99-year leasehold site in Dairy Farm Road launched yesterday under the confirmed list of the Government Land Sales (GLS) programme is expected to see keen interest from developers, market watchers said.

There is also a strong prospect that two reserve list sites – one in Sims Drive and the other in Tampines Avenue 10 – will be triggered for sale, they added.

Collectively, the three sites can yield some 1,880 residential units. Continue reading

Gilstead Mansion up for collective sale at $68m

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

URA, HDB release sale sites in Dairy Farm Road, Sims Drive and Tampines Avenue 10

SINGAPORE – The Urban Redevelopment Authority (URA) and the Housing Board (HDB) have released three sites with residential components for sale in Dairy Farm Road, Sims Drive and Tampines Avenue 10.

These come under the first half of the 2018 Government Land Sales programme, the authorities announced on Thursday (May 31).

For sale is one Confirmed List site in Dairy Farm Road launched for residential development with commercial uses on the first storey. This land parcel has a site area of 19,647.5 sq m, with a 99-year lease period, and a permissible gross floor area (GFA) of 41,260 sq m. Continue reading