Enbloc

The tender for the collective sale of the freehold The Wilshire along Farrer Road has been launched. Savills Singapore, the marketing agent for the District 10 property's collective sale, said that the indicative guide price is S$98.07 million, which works out to S$1,525 per square foot per plot ratio (psf ppr) based on the existing gross floor area (GFA) of 64,310 sq ft. The Wilshire, which is on a...

The collective sale frenzy sweeping the property market is expected to continue into next year, resulting in an upswing in home prices and transactions as displaced owners look for a new place to live. At least 44 condominiums are expected to go en bloc next year, creating more than 9,000 potential househunters, according to data from property consultancy Cushman & Wakefield. Most of the condominiums...

The collective sale of Vista Park in South Buona Vista Road has been awarded to Oxley Holdings at S$418 million, which works out to about S$1,096 per square foot per plot ratio (psf ppr), inclusive of an estimated S$72 million payable to the state to top up the site's lease to 99 years. The site is zoned for residential use with a 1.4 plot ratio and allowable height of up to five storeys. Vista Park,...

Parkway Mansion has been sold at S$146.99 million to SL Capital (3) Pte Ltd, a consortium led by Sustained Land Pte Ltd. The sale price was 6.5 per cent above the owners' guide price of S$138 million during the tender that was launched on Nov 16. The sale price and an estimated development charge of about S$21 million translate to a land rate of S$1,536 psf per plot ratio. The development charge is...

Another residential development has been launched for a collective sale, this time at 11 Balmoral Road. All owners of the 17-unit freehold development in prime district 10 have given their approval for the sale. The sole marketing agent JLL said that owners are asking for S$75 million, which translates to an estimated land rate of about S$1,761 per sq ft per plot ratio (inclusive of development...

Developer City Developments Limited (CDL) is taking a second bite of the cherry with plans to redevelop Katong condominium Amber Park, which it built in 1986, into a far bigger project. CDL lodged the bid through its Cityzens Development subsidiary and a joint-venture partner from parent Hong Leong Group in an 80:20 pairing. It beat seven other bidders with a $906.7 million offer as the 200-unit estate...

A subsidiary of Malaysian property developer Selangor Dredging has purchased a parcel of prime freehold land in the Orchard area. Champsworth Development, which is 50 per cent owned by Selangor Dredging, paid S$72 million for 1 Draycott Park. This translates to a price of approximately S$1,787 per sq ft per plot ratio, inclusive of development charges for the 17,442 sq ft site. The developer said it was...

The residential collective sales market is poised to pick up this year, with analysts citing the limited supply of private housing sites at state tenders and strong demand for land by developers as key factors. A collective sale, also known as an en bloc sale, refers to a combined sale by the owners of property units to a shared purchaser with sale proceeds divided amongst the unit owners. In 2016,...

Former HUDC estate Rio Casa was on Monday (Apr 10) put up for collective sale, announced its marketing agent Knight Frank in a news release. Owners of the river-fronting estate along Hougang Avenue 7 are expecting offers above S$450.8 million for the property, which translates to a land rate of about S$586 per square foot per plot ratio, according to Knight Frank. The price includes about S$141.5...

CUSHMAN & Wakefield, together with the Collective Sale Committee, has secured approval for the redevelopment of Singapore's first air-conditioned mall Katong Shopping Centre for commercial and serviced residence use. The reserve price remains the same at S$630 million which translates to a land price of $S2,248 per square foot of gross floor area, said Cushman & Wakefield, the exclusive marketing agent...