Roxy-Pacific acquires freehold residential sites in Guillemard Lane for S$34m

ROXY-Pacific Holdings plans to acquire freehold residential sites in Singapore’s Guillemard Lane for S$33.5 million. The sites situated at 2 and 6 Guillemard Lane have an estimated total land area of 14,030 sq ft and an existing gross plot ratio of 2.8 under the 2014 Master Plan for residential development, said the company in an announcement. The group intends to amalgamate these sites with the freehold land parcels situated at 12 and 14 Guillemard Lane, the acquisition of which it announced in mid September, for residential development.

The combined site has a total estimated land area of 25,601 sq ft.

The latest acquisition will be financed by internal funds and bank borrowings and is not expected to have a material impact on its consolidated earnings and net tangible assets per share for the current financial year ending December 2017, it said.

Roxy-Pacific shares were untraded on Monday and stood at 53.5 Singapore cents.

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Jervois Gardens sold for S$72 million to SC Global

SINGAPORE- Jervois Gardens, a freehold development in River Valley, has been sold to Brownstone, a unit of SC Global, for S$72 million following a competitive tender that ended on Sept 26.

The development comprises two low-rise blocks of 14 maisonettes and three apartments at 30F and 30G Jervois Road.

Ms Tang Wei Leng, managing director of Colliers International Singapore, which facilitated the sale, said in a statement that this was Jervois Gardens’ third attempt at a collective sale. She added there was a total of eight bids for the prime freehold site – “a testament to its strong redevelopment potential”. 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.

Freehold Changi Garden condo up for $196m collective sale

SINGAPORE – Yet another residential development is up for collective sale, joining the hot en-bloc scene in recent months.

The owners of the freehold Changi Garden, which has 60 apartments, 12 penthouses and 12 shops, are asking for S$196 million or S$700 per square feet per plot ratio, said consultant Edmund Tie & Company on Thursday (Sept 7).

It is putting up the development for sale by public tender on Friday. Continue reading

2 more condos up for en-bloc sale: Amber Park and Jervois Gardens

SINGAPORE – The collective sale fever in Singapore just got a bit hotter with news on Monday (Aug 28) of two freehold condominiums up for sale.

Amber Park, a 200-unit freehold condominium in the East Coast, has been launched for en-bloc or collective sale at a minimum price of S$768 million, sole marketing agent JLL said.

Built in the mid-1980s, Amber Park comprises two 27-storey apartment blocks. Continue reading

Freehold Katong plot could fetch up to $61m

A freehold plot in Katong has been put up for sale – another sign that the property sector is on the rebound.

Analysts expect keen interest for the site at 12 Amber Road, which is sandwiched between condominiums Amber Skye and King’s Mansion. It is near the upcoming Tanjong Katong MRT station that will be on the Thomson-East Coast Line due for completion in 2023.

Marketing agent JLL said that it anticipates offers between $56.6 million and $61 million for the 22,800 sq ft plot. Continue reading

Tuan Sing buys land for S$47.8m at Jalan Remaja

TUAN Sing Holdings’ wholly-owned Episcia Land exercised an option on Wednesday to purchase a piece of vacant land at 1 Jalan Remaja, Singapore, for S$47.8 million from Andermatt Investments Pte Ltd.

The freehold site, zoned residential, has a land area of some 4,046.6 sq m. At a plot ratio of 1.92, subject to Episcia’s payment of development charge, the site can potentially yield about 100 residential units taking into account the permissible gross floor area of 7,769.5 sq m (83,630 sq ft), said Tuan Sing in a statement.

A total sum (including option fee) of S$4.78 million, representing 10 per cent of the consideration, has been paid to the vendor for the acquisition that will be funded by internal and external resources.

It said the site is nestled within a tranquil private residential enclave of Hillview area and is surrounded by greenery from the neighbouring Bukit Timah Nature Reserve, Bukit Batok Nature Park and Bukit Gombak “Little Guilin”.

There is also good transport connectivity given the close proximity to major expressways making key areas such as Jurong Lake District and Central Business District easily accessible; the nearby Hillview MRT Station is about 10 minutes’ walk from the site while Marina Bay is a mere 30 minutes’ ride.

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