One by one, her neighbours started moving out of the 39-unit condominium at Surrey Road and by Tuesday last week, the Gans were the only ones left — and left without a clue. “We have had neighbours moving out since March and a kind neighbour told us that the deadline to move out was April 10. I was shocked. I had not been notified if (the en bloc sale proposal) was successful or not,” Mrs Gan Beng...
Enbloc
You may have heard of the family in China who stayed put in their house refusing to budge when their building was slated to be torn down for a new development. Here in Singapore, a family claim they have been left completely in the dark about their condominium's en bloc sale. And, the time is ticking before the condo has to be demolished.Chin Siew Yin and her family moved into the Lincolnsvale...
$125 million -- that's how much Hong Leong Group has paid for One Balmoral under a collective sale agreement. This works out to $1,188 per square foot per plot ratio (psf/ppr), the highest ever yet for a Balmoral Road property. Nearby Balmoral View was sold to Kajima at $733 psf/ppr, while Chip Eng Seng bought 21, Balmoral Road for $451 psf/ppr. Under the agreement, owners of most units at One Balmoral...
The Hong Leong Group has bought One Balmoral for $125 million through a collective sale, setting a new benchmark for Balmoral Road at $1,188 per sq ft per plot ratio for the 66,277 sq ft freehold site. This includes a development charge of $1.1 million. The site, zoned for residential use with a 1.6 plot ratio, has the potential to be redeveloped into a 12-storey luxurious residential development. The...
Successful en bloc sales are now more spread out geographically over Singapore instead of being concentrated in the prime districts. According to property consultant Knight Frank, the first three months of the year saw 18 collective sales being sealed. Out of these, at least seven were in areas not traditionally known as hot beds for en bloc sales. They include Hong Leong Garden in the west, Flamingo...
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...
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...