Tag Archives: Upper Serangoon

Adjoining residential sites in Upper Serangoon put up for sale

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Two adjoining freehold residential sites in Upper Serangoon have been put up for sale.

Marketing agent Colliers International says the indicative pricing for the sites at 1 Surin Avenue and 790 Upper Serangoon Road is about S$40 million.

In a statement, Tang Wei Leng, executive director of investment services at Colliers International, said: “Indicative pricing is in the region of S$40 million. Including a development charge of S$6.1 million, the price works out to be some S$934 per square foot.

“With a total land area of 42,846 sq ft, the site can be re-developed to accommodate some 26 units of cluster terrace house, with areas ranging from 3,500 sq ft to 5,000 sq ft each.”

Colliers added that cluster housing appeals to buyers who prefer larger living spaces as well as attract investors due to the higher rental yield.

The property consultancy says typically, new cluster developments could enjoy a rental yield of 4 to 5 per cent, while conventional landed housing may have a rental yield of about 3 per cent.

1 Surin Avenue is currently occupied by a two-storey detached house which is vacant, while the adjacent Upper Serangoon Road is formerly the Singapore Crocodile Farm, which has since ceased operations.

The tender will close on August 15, 2012.

Source : Channel NewsAsia – 16 Jul 2012

HDB awards tender for land parcel at Upper Serangoon

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The Housing & Development Board (HDB) has awarded the tender of a land parcel at Upper Serangoon View/Upper Serangoon Road to the top bidders of the executive condominium site.

Ho Lee Group Pte Ltd & Evia Real Estate Management made a joint bid of S$141.48 million when the tender closed on March 1. The site received a total of seven bids at the close of the tender exercise.

The 12,392.20 sq m site was put up for tender on January 19. It has a 99-year lease term and a maximum gross floor area of 43,372.70 sq m with gross plot ratio of 3.5.

HDB said the site can have an estimated 435 dwelling units.

Source : Channel NewsAsia – 6 Mar 2012

Executive condo site at Upper Serangoon attracts 7 bids

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The Housing & Development Board (HDB) tender for the land parcel at Upper Serangoon View / Upper Serangoon Road has attracted seven bids at the close.

The top bid came from a joint offer by Ho Lee Group Pte Ltd and Evia Real Estate Management Pte Ltd for S$141.5 million.

This works out to S$303 per square foot (psf) per plot ratio.

The top bid is seven percent more than the second bid of S$132.1 million by EL Development Pte Ltd.

The third bid came from Peak Living Pte Ltd, a unit of Kheng Leong, a construction company.

Meanwhile the lowest bid came from Frasers Centrepoint Limited at S$93.4million.

The 99-year lease hold site was launched for public tender on 19th January this year.

It has a maximum permissable gross floor area of 43,372.70 square metres.

Dennis Wee Group senior manager Lee Sze Teck says the level of interest shows that developers think the executive condominium market is still robust.

“The site will be able to enjoy the commercial activities that is provided for in the adjacent BTO development, Hougang Capeview and views of the Serangoon Reservoir.” he added.

Mr Lee says the top three bidders are companies in the construction trade hence they will be able to manage the construction costs.

The estimated breakeven cost is between S$550 and S$600 psf.

The estimated selling price is between S$670 and S$720 psf which is similar to Twin Waterfalls in Punggol.

HDB says the award of the tender will be announced at a later date.

Source : Channel NewsAsia – 1 Mar 2012

S’pore govt releases 2 residential sites for sale

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Two new residential sites have been launched for sale by public tender on Thursday, to provide home-buyers and developers with more choices for private housing.

The Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) said the sites are at Hillview Avenue and Upper Serangoon View/Upper Serangoon Road.

The two parcels are under the Confirmed List of the first half of this year’s (1H2012) Government Land Sales (GLS) Programme.

Together, they will yield about 805 units, as part of the total 7,000 residential units to be launched under the GLS Programme for the first six months of this year.

The land parcel at Hillview Avenue is about 1.26 ha, located within an established residential estate in the west region.

The site can potentially yield about 370 private housing units and is near the future Cashew and Hillview MRT Stations.

These stations are part of the Downtown Line 2 Mass Rapid Transit system that will provide residents with convenient access to the city centre when it is completed in 2015.

The land parcel at Upper Serangoon View/Upper Serangoon Road is about 1.24 ha, and is located in the north-east region and in close proximity to Hougang MRT Station and Bus Interchange.

Earmarked for an executive condominium development, the site can potentially yield about 435 units and is easily accessible via nearby TPE, KPE and CTE.

Source : Channel NewsAsia – 19 Jan 2012

Serangoon residential site launched for sale

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The Housing and Development Board (HDB) is launching a residential site at Upper Serangoon Crescent and Upper Serangoon Road for sale by tender.

Slated for condominium development, the site – located near Buangkok and Hougang MRT stations – can potentially yield 860 apartment units.

HDB said the land parcel has a site area of over 24,600 square metres, with a maximum gross floor area of over 86,000 square metres. The site has a lease term of 99 years and the tender will close at noon on September 17.

Under its second-half Land Sales Programme for this year, the government has placed 17 sites on the Confirmed List and 13 sites on the Reserve List for private residential development.

Together, these 30 sites can potentially generate about 14,200 private residential units.

At the end of the second quarter, there was a total supply of 71,111 uncompleted private residential units in the pipeline with nearly 33,900 units remaining unsold.

Source : Channel NewsAsia – 26 Jul 2011

HDB awards Upper Serangoon View condo site to highest bidders

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The Housing and Development Board (HDB) has awarded the land parcel at Upper Serangoon View to joint bidders FCL Topaz, Far East Civil Engineering and Sekisui House for S$156.8 million.

Their bid was the highest of the four bids received at the close of the tender on November 9.

The land parcel, which is meant for condominium housing development, has a site area of 13,000 square metres and a maximum allowable gross floor area of about 45,500 square metres.

The site was launched for public tender on September 22.

The project, which can have about 540 dwelling units, has a 99-year lease period.

HDB said the development has to be completed within 60 months from the date of acceptance of tender.

The project’s breakeven cost is estimated around S$650 to $680 per square foot, and the condos are expected to be sold between S$800 and S$850 per square foot.

Source : Channel NewsAsia – 12 Nov 2010

HDB receives 4 bids for Upper Serangoon View condo site

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The Housing and Development Board (HDB) has received four bids for the land parcel at Upper Serangoon View at the close of the tender on Tuesday.

The site has an area of 13,000 square metres.

The highest bid came from joint bidders FCL Topaz, Far East Civil Engineering and Sekisui House.

They submitted a bid of S$156.8 million.

That translates to about S$3,446 per square metre per gross floor area for the site meant for condominium housing development.

The next highest bid was by Centurion Re at around S$152.9 million and Ladyhill with a bid of S$147.8 million.

Grand Isle Holdings placed the lowest bid of about S$136.4 million.

The state land parcel has a maximum gross floor area of 45,501 square metres, and can house an estimated 540 dwelling units.

The site was launched for public tender on September 22 and has a lease period of 99 years.

HDB said it will evaluate the bids and announce the final tender results within the next two weeks.

Source : Channel NewsAsia – 9 Nov 2010

Qing Dao puts in top bid for Upper Serangoon residential site

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Developer Qing Dao Construction has put in a top bid of S$113.7 million for a residential land parcel in Upper Serangoon. That works out to about S$607 per square foot.

Consultants Colliers International said this is also the second highest price recorded for a 99-year leasehold land parcel sold by the government for non-landed housing in the city fringe area.

The tender by the Urban Redevelopment Authority received 15 bids in all.

The site at Upper Serangoon Road and Pheng Geck Avenue has a lease term of 99 years and is meant for residential development.

The second highest bid came from SP Setia International, which put in a bid of S$110.6 million.

Realty Consortium rounded off the top three bids with an offer of S$95.3 million.

The minimum offer price for the site was S$60 million.

Property consultancy CB Richard Ellis said based on the top bid, units in this new project could possibly sell above S$1,000 per square foot.

The consultancy also noted that the bullish bids showed that developers are confident of sites that are located close to MRT stations.

In the first quarter of this year, units at nearby developments like 8 @ Woodleigh and Woodsville 28 were transacted in the sub-sale market at between S$880 and S$1,130 per square foot.

Source : Channel NewsAsia – 2 Jun 2010

Int’l school offering US-based curriculum to open at Upper Serangoon Rd

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A new international school offering a US-based curriculum will open its doors at the former Upper Serangoon Secondary School in September 2009.

Cognita, a leading education group from the United Kingdom, plans to set up the Stamford American International School at the vacant school building after the Singapore Economic Development Board and the Singapore Land Authority (SLA) gave its proposal the nod.

The group, which owns and operates over 45 independent schools in the UK and Spain, was awarded the state land site in the first Request-for-Interest (RFI) exercise for foreign system schools.

A joint statement from the EDB and SLA said Cognita made the cut with its quality curriculum offerings and strong track record.

The RFI was conducted in August and received strong response from operators.

The authorities said proposals were assessed based on a range of factors such as the quality of the project, ability to meet market demand and investment commitment, including the commitment to commence classes in academic year 2009.

Cognita is not new to Singapore. In 2007, it acquired the Australian International School of Singapore, pumping S$33 million into the school’s expansion plans.

The Stamford American International School is expected to take in its first batch of students in September 2009. With an initial capacity of 600 students, the school’s student population is expected to grow to 2,500 eventually.

In light of the gloomy economic outlook, SLA said it will work closely with Cognita to ensure that operation and redevelopment plans are on target. SLA also noted that the demand for state properties for international schools has not dipped despite the economic downturn.

Another round of RFI could be conducted next year. To date, 19 international schools are using state properties as campuses.

Source : Channel NewsAsia – 24 Nov 2008

Road upgrading project to cut travel time from city to northeast by 60%

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The massive road intersection between Serangoon and MacPherson Roads will be upgraded at a cost of 130 million Singapore dollars and will be completed in 2011.

The Woodsville Interchange is one of the busiest in Singapore. In each hour during peak periods, over 8,500 vehicles ply the four arterial roads that form the intersection. The roads are Serangoon, Upper Serangoon, Bendemeer and MacPherson Roads.

As that’s close to full capacity, the Land Transport Authority (LTA) said it’s time for an upgrade.

Over the next three years, LTA will build a series of road tunnels.

One will join Serangoon Road to Upper Serangoon Road. Another links Upper Serangoon Road to Bendemeer Road. A third connects MacPherson Road to Bendemeer Road.

The first two tunnels are two-lane roads and the third is a one-lane road.

There will also be a flyover from the PIE slip road to Kallang Way.

These improvements will raise vehicle capacity by 30 per cent and cut travelling time in the area by 60 per cent.

Other works include rebuilding and adding more pedestrian overhead bridges and bus-stops in the area.

This road project is said to be one of the most complex ever undertaken by the LTA. One reason is because the three vehicular tunnels are going to be constructed just five metres above the existing northeast MRT line. This means that if digging is not done properly, the entire area will be compromised.

LTA has said that safety will be paramount and the site will be monitored round-the-clock.

Yam Ah Mee, Chief Executive, LTA, said: “We studied all the infrastructures, for example, at the major holding points for the PIE above ground. We also studied the types of soil conditions the different depths and orientations of the North-East Line tunnels, the other tunnels and the deep sewage tunnels.”

The LTA is aware of the inconveniences that come with construction of such scale.

So for the first time, it has set up a Project Community and Control Centre near the site to handle queries from those working and living nearby.

It’s known as PC-cube and it will be open 9am to 5pm on weekdays. It will showcase the project’s progress.

The centre will also monitor traffic flows at the interchange to ensure that traffic is moving at a satisfactory pace during the works. – CNA/vm

Source : Channel NewsAsia – 19 Jun 2008