Collective sales for this year are set to hit new record levels, say experts. In a sign that this year’s collective sales could be even better than last year’s bonanza, the number and value of collective sales so far this year have not only exceeded what was achieved in the same period last year but also beaten the record $2.41 billion set in 1999. Based on preliminary data as of mid-March, there...
Enbloc
Colliers International has put up Fairways Condominium for sale by way of invitation to submit an offer. The freehold property is located at 610/612 Telok Blangah Road, near the upcoming Labrador Park MRT station. With a land area of 146,532 sq ft, the site is zoned for residential use under the 2003 Master Plan with a plot ratio of 2.1. The condominium comprises a stepped 7-, 12-, and 13- storey block...
DTZ Debenham Tie Leung has put Elmira Heights, a property off Newton Circus, up for collective sale. The property has a site area of 108,550sqft. According to the Master Plan 2003, it can be redeveloped into a 30-storey condominium that is subject to a height control of 117 metres. Along with the plot ratio of 2.8, it translates to the new development having a gross floor area of 303,939sqft. It could...
The spate of collective sales continues as Lewis Court, a 12-unit walk-up apartment block, was sold to Hiap Hoe subsidiary Guan Hoe Development for $24 million through a collective sale tender. Property consultant and collective sale specialist Credo Real Estate put the property up for sale last month following a 100-per-cent consensus from the owners. “The purchase of Lewis Court is in line with our...
Low Keng Huat (Singapore) Ltd and its joint-venture partner, Kheng Venture Pte Ltd, will be acquiring Minton Rise Condominium in Hougang. The acquisition will be made through the joint venture, Peak Garden Pte Ltd, at the purchase price of S$209 million. The purchase and subsequent redevelopment of the property by Peak Garden will be financed by internal funds and bank borrowings. The acquisition is...
Holland Crest - a prime-district residential condominium on Holland Hill - is up for enbloc sale. The 42 owners are hoping to get at least S$67.5 million for the 52,000 square feet freehold site. This will work out to a land value of S$800 per square foot per plot ratio. The land is zoned for residential use and has a plot ratio of 1.6. The successful developer will be able to build about 66 units,...
Tampines Court, a 22-year old HUDC development, is up for collective sale after obtaining an 80 per cent consensus from the owners.The indicative value is $527 million.The development, which was privatised in 2001, sits on a 702,458 square foot (sq ft) site and has a plot ratio of 2.8 and a potential gross floor area of about 2 million sq ft. This is one of the largest en bloc sale sites available on the...
More than 85 per cent of the en bloc transactions for 2005 and 2006 were located in district 1 (Marina Bay), the prime districts of 9,10 and 11, as well as district 15 (Katong), according to a report by Savills. Experts agree as property developers continue to build and sell projects, they need to acquire new land to continue the business cycle. With land being a premium in the prime districts, the...
A 24-unit, walk-up apartment block off Amber Road was sold collectively on Tuesday, to a subsidiary of Far East Organisation for $28 million. The sale drew four bids and achieved more than 80% consensus from the owners, becoming the first residential en bloc sale of the year. The site sits next to the Chinese Swimming Club and covers an area of nearly 2,000 square metres. It is zoned for residential use...
Bougainville Maisonette Apartments in the Joo Chiat area has been sold to an associated company of Teambuild for S$8.8 million in an en-bloc sale. The transacted price represents S$308 per square foot per plot ratio, including an estimated development charge of S$86,000. According to United Premas, which brokered the deal, the sale will set a benchmark for land sales in the Joo Chiat...