Three residential en bloc sites in prime locations have been put up for sale by their sole marketing agent Knight Frank. The first site is the freehold Dynasty Garden, located on Sixth Avenue in District 10. It has a land area of about 73,300 square feet. Under the 2008 Master Plan, the site is a "three-storey mixed landed". There are currently 33 walk-up apartments with unit sizes ranging from 1,044.1...
Enbloc
The tender for Pine Grove - possibly the most expensive property to go enbloc - closed on Tuesday. Its marketing agent Jones Lang LaSalle declined to comment if any bids were received for the tender, or when the results of the tender will be released. Pine Grove is an 893,000 square feet property at Ulu Pandan. It went up for sale in early March. The new development can yield a gross floor area of 1.88...
Chong Kim Apartment, a freehold development at Bassein Road, will be launched for collective sale by public tender on Thursday. It is expected to fetch around S$40 million, including the estimated development charge of about S$3.7 million. This works out to some S$842 per square foot of potential gross floor area. Each owner of the 25-unit development may get between S$1.23 million and S$2.9 million...
Despite the en bloc fever, some prime sites have been bypassed as the recent property market cooling measures make developers picky about their land acquisitions. These sites include the S$700 million Hawaii Tower at Meyer Road as well as the S$92 million Grand Tower, located near Novena MRT Station. The estimated S$70 million Holland Tower, which is a short drive from Orchard Road, has yet to find a...
Pearlbank Apartments, a 37-storey development on Pearl’s Hill near Chinatown, has been offered for en bloc sale with an indicative price of S$750 million. This is the third time the 99-year leasehold development has been launched for en bloc sale. It was last marketed in 2008 at similar selling price but had no takers then. The selling price translates to a land price of S$1,495 psf ppr, including an...
Specialty property and hospitality group Roxy-Pacific Holdings Ltd on Tuesday said that its wholly-owned subsidiary RL Central Pte Ltd has agreed to buy a freehold site comprised at 131 Mackenzie Road for about S$24.6 million. The site has a total land area of 1,198 square meters and a maximum plot ratio of 2.1 for residential development, the mainboard-listed company said in a statement. It said the...
Cairnhill Mansions, a freehold residential site in District 9, has been released for collective sale with an indicative price of S$361.5 million (around S$2,308 psf) and no development charge (DC). Its current price tag is lower than the S$443.6 million (S$2,833 psf) guide price set for the property in an earlier collective sale attempt in late 2007. The property is zoned for residential use with a...
Amber Towers was sold to Resource International Holdings, a wholly owned subsidiary of China Sonangol Land Pte Ltd, for S$161.6 million, said sale manager Savills Singapore. The District 15 freehold redevelopment site occupies an area of approximately 40,708 sq ft and can potentially accommodate a new high rise residential development with a maximum permissible gross floor area of about 144,604 sq ft...
Property insiders claim that the 23,020 sq ft freehold condo Fortredale at Tanjong Rhu has been sold for approximately S$65 million, or about S$1,342 psf ppr. The alleged purchaser is a low-profile Chinese developer, which is also building a project in the Balestier area. The collective sale of Fortredale was brokered through a tender by CB Richard Ellis (CBRE), which closed on 29 March. Analysts expect...
Haig Mansions, a 16-unit apartment block on Haig Road, has been put up for sale with an asking price of S$21 million, or about S$746 psf ppr. The freehold development site has a land area of 20,226 sq ft, with a gross plot ratio of 1.4 and an allowable height of up to five storeys. Based on the total gross floor area (GFA) of 28,317 sq ft, the property can yield up to 45 apartment units with an average...