Shunfu Ville, a 358-unit residential sale in the Bishan-Thomson area, has been launched for collective sale by tender, marketing agent JLL announced on Wednesday (Sep 2). The Shunfu Road estate comprises three 16-storey apartment blocks and three low-rise blocks of 6-storey maisonettes. It was built in the late 1980s by the former Housing and Urban Development Company (HUDC) and was privatised in...
Enbloc
Thong Sia Building located opposite The Paragon in the Orchard Road shopping belt has been sold to SIN Capital Group for S$380 million, marketing agent JLL said in a news release on Wednesday (Jul 29). This works out to S$2,430 psf over the existing gross floor area for the freehold building. The 26-storey building was built in 1981 and has a land area of about 21,602 sq ft. It currently comprises seven...
Fairhaven, a 15-unit residential development along Sophia Road, has been launched for sale by public tender. This is the first time that the freehold property has been put up for collective sale, and more than 80 per cent of the owners, by share value and strata floor area, have consented to the move. The property has a land area of approximately 16,660 square feet, and the future developer can build...
The wheels have been set in motion for the first multi-strata private development in the Republic to be gazetted as a conserved building. On Sunday (May 31), 116 owners of Pearl Bank Apartments turned up for a general meeting to discuss the matter after its management committee said authorities would only agree to the conservation status request if a 100 per cent consent among owners was...
Peace Centre and Peace Mansion on Sophia Road were put up for sale on Monday (Dec 15) with an indicative price of approximately S$680 million, according to Colliers International, the property consultant that launched the sale. The property on 1 Sophia Road sits on a 76,617-square-foot site that has a 99-year leasehold tenure that commenced on Jun 2, 1970. The subject site is zoned for commercial use,...
Derby Court, a boutique freehold site located in District 11, has been put up for sale, according to Savills Singapore on Tuesday (Nov 25). The 12-storey development occupies approximately 1,719.3 square metres, or 18,506 square feet, at 5 Derbyshire Road. The 35-year-old development consists of 22 apartments with an existing floor area of 53,094 square feet, and is zoned under "Residential", said...
Citimac Industrial Complex at the junction of Macpherson Road and Paya Lebar Road has been put up for collective sale, with the owners seeking bids of S$550 million and above. Cushman & Wakefield, which is handling the en-bloc sale, described the complex as a rare developable site near the Paya Lebar iPark vicinity and the Paya Lebar Regional Centre. According to Cushman, Citimac occupies a land area...
Collective or en-bloc property sales in Singapore have come to a standstill and the market is unlikely to recover unless sellers lower their price expectations and stop aiming for huge windfalls, real estate services firm Colliers International said on Friday (Aug 22). This is because government policy measures to curtail speculative real estate activity and to foster financial prudence have taken much...
Spring Grove, a condominium along Grange Road, has been put up for sale by tender. According to its marketing agent Knight Frank Singapore, the owners are expecting offers in excess of S$1.39 billion. This includes a lease top-up premium for a fresh 103-year lease. That will make it the the largest ever enbloc sale in Singapore, in terms of value. Spring Grove sits on a site with a land area of about...
The en bloc market, which has been subdued following additional tightening measures imposed on the property sector last year, is expected to remain quiet this year as developers turn increasingly cautious, while sellers are reluctant to budge on asking prices. According to data provided by property firm CBRE to TODAY, the number of en bloc sales fell to only seven last year from 25 in the previous year...