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,...
Enbloc
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...
Wing Tai has signed a collective sale agreement to acquire Ardmore Point at Ardmore Park for S$201 million. It plans to redevelop the 60,500 square foot site into a new residential property development for sale. The site has plot ratio of 2 point 8 times. Wing Tai earlier bought Newton Meadows, Belle Vue in Oxley Walk, and Phoenix Mansion in Cairnhill Road to add to its land bank. Source: Channel...
CapitaLand has acquired Silver Tower on Orchard Road in a collective sale for S$161m. It plans to build a luxurious 20-storey condominium with 100 apartments on the freehold site.CapitaLand's purchase works out to S$1,107 per square foot per plot ratio.This includes an estimated development charge of S$16.5m. Silver Tower sits on a 57,200 square feet area with a gross plot ratio of 2.8. There are...
The common methods used are: Share value: the apportionment for each unit is proportionate to a unit's share value in relation to the total share value for the whole apartment Average of the strata floor area and share value: the apportionment is according to the unit's strata floor area in relation to the total strata floor area. The figures derived from the share value method and floor area method are...
What is Enbloc Sale? Enbloc = in a lump; as a whole Thus, an Enbloc Sale basically means: all owners of separate units in an apartment, condominium or even an office building, coming together to collectively sell their properties to a developer for comprehensive redevelopment. Why Enbloc Sale? allows owners to sell their properties for at a higher price than they could fetch by selling individually...