More prime district sites may come to market A collective sale is said to have been sealed for Meng Garden Apartments off Killiney Road for $137 million or about $1,380 per square foot per plot ratio, including an estimated development charge of $681,000. This is the biggest collective sale transacted this year and the first in a prime district. It also takes the year-to- date tally to 16 deals at about...
Enbloc
Changes to the Land Strata Titles Act will be effective from Thursday, 15 July, after the Amendment Act was enacted in Parliament on 18 May. The amendments seek to provide more clarity to the en bloc sales process and balance the interest of property owners. Among them, a two-year restriction period will be imposed starting from the date an initial collective sale attempt failed. The objective is to...
The hot property market has seen yet another residential development going up for en bloc sale. The public tender for the collective sale of Melrose Court at No.10, Lorong Limau has been launched. The freehold site is currently occupied by a four-storey residential development comprising 32 units. It has an area of 23,789 sq ft. The site is zoned for "residential" use with a gross plot ratio of 2.8...
People's Mansion at Lorong 31 Geylang has been sold en bloc to Tomlinson Investment for S$42.68 million. That translates to about S$421 per square foot per plot ratio. Urban Front Real Estate closed the tender for the site on July 2 after receiving three bids and one expression of interest. The next highest bid was S$42.1 million. The collective sale is subject to approval from the Strata Titles...
Mainboard-listed BBR Holdings plans to acquire a plot of freehold land at Simon Lane, near Serangoon Gardens, for S$86 million. BBR said it aims to develop a low-rise condominium project on the over 9,000 square metre site which currently houses Goodrich Park Condominium. Under the URA 2008 Master Plan, the site is zoned for residential development with an allowable height of up to 5 storeys and a Gross...
Real estate consultancy firm CB Richard Ellis (CBRE) has launched Villa D'Este at Dalvey Road for collective sale. Villa D'Este is a 12-unit apartment project which sits on an area approved by the urban planners for 'Good Class Bungalows'. 'Good Class Bungalows' are the most exclusive housing form. The freehold site has an area of 55,480 square feet and a gross floor area of 49,071 square feet. CBRE...
When it tried to go en bloc four years ago, Clementi Park failed to get 50 per cent of its residents' vote. This time round, its marketing agent Knight Frank withdrew from the collective sale exercise. In the minutes of a recent meeting - which was obtained by Media-Corp - the company said it did not have the "confidence" that it could get 80 per cent of the condominium's owners to agree to a collective...
But some residents of Nim Gardens happy to stay, citing condominium's size, green surroundings A planning provision has hampered the plans of some residents at Nim Gardens to make more money should their development go up for an en bloc sale. Nim Gardens in Seletar Hills is 10 storeys. According to the rule, any new development cannot exceed this height, nor the gross floor area. This means residents...
Pender Court, a 48-unit development at the foot of Mount Faber, has become the eighth successful en bloc sale in Singapore this year. The property was sold to Hoi Hup Realty for S$95 million. That translates to about $1,007 per square foot per plot ratio. Credo Real Estate launched a tender for the site that closed in May. The collective sale is subject to approval from the Strata Titles Board. With...
Cavenagh Mansions, a freehold residential redevelopment site along Cavenagh Road, has been put up for sale by tender. Its marketing agent Knight Frank said the guiding sale price is S$55 million to S$60 million. This translates to a land price of S$1,258 to S$1,367 per square foot per plot ratio. This is based on the potential gross floor area of about 45,768 square feet, inclusive of the additional 10...