A freehold residential site at Tampines Road has been put up for collective sale by public tender. The 14-storey development, Yi Mei Garden, is located near Kovan MRT and Heartland Mall. ERA Realty Network, the marketing agent for the property, said the indicative price range for the plot is between S$132 million and S$135 million. ERA said the development charge payable would work out to be...
Collective Sale
Bright Chambers, a nine-storey commercial building at the junction of Middle Road and Victoria Street, has been sold en bloc for S$45 million to Arjuno Holdings, a special purpose vehicle run by Pamfleet Asset Management, marketing agent Jones Lang LaSalle said yesterday. Bright Chambers, zoned for commercial use, sits on a land area of 5,263 sq ft and has an existing plot ratio of 7.943, exceeding the...
A 55-unit residential development at Guillemard Road has been put up for collective sale by tender. Versailles has an indicative price tag of between S$105 million and S$110 million, which translates to some S$1,088 per square foot (psf) to S$1,133 psf. The site has a land area of around 53,073 square feet (sq ft). Exclusive agent for the deal Jones Lang LaSalle said the development has a...
After more than 10 years pushing to get their estate privatised, residents of Shunfu HUDC estate finally won the day. The government has given it the green light to turn private. Attempts started as early as 2001, but it was only in 2008 that the effort gained momentum, with the necessary 75 per cent of residents agreeing to privatisation. There was a small notice on the lift landing... with big news...
Kismis Lodge, a freehold residential development located at Lorong Kismis in Upper Bukit Timah, was successfully sold to Newfort Alliance (Cairnhill) Pte Ltd for S$84.8 million. The sale price translates to S$1,198 per square foot, or a gross sale price of about S$1.3 million each unit. Brokered by property consultants Jones Lang LaSalle, this is the third en bloc sale deal completed this year. "The...
The moribund property en bloc sales market looks set to cool down further. Experts expect total transactions in the collective sales market to decline to around S$1.5 billion in 2013. Global real estate services firm, Jones Lang LaSalle expects en bloc activities in Singapore to slow down from S$3 billion in 2011 to S$2 billion in 2012 and likely to go even lower than 2012 numbers this year. However,...
The outlook for the en bloc market has become bleak in the aftermath of the latest round of cooling measures, according to experts. “I think these measures caught everyone by surprise. For en bloc developers, the first couple of months will show more subdued dealing of land parcels. If developers are not confident to sell, they will not bid aggressively,” said Ian Loh, Head of Investment at Knight...
STB stops Allgreen’s purchase of condo for lack of ‘good faith’ AN APPLICATION for the en bloc sale of Regent Garden has been dismissed by the Strata Titles Board (STB) - much to the delight of the majority owners. A group of 25 owners at the 31-unit condominium had earlier sued the buyers, Allgreen Properties, for allegedly breaching the sale and purchase agreement by grossly undervaluing the...
SINGAPORE has seen several ugly en bloc tussles but this is a first. The majority owners, having agreed to sell their condominium, are now suing the buyers. A group of 25 at the 31-unit Regent Garden is alleging that developer Allgreen Properties has breached the sale and purchase agreement by grossly undervaluing the condominium. The owners filed a claim last Monday with the High Court to declare that...
Minority owners say NUS should not follow majority in en bloc sale IT HAS remained silent — and passive — in the protracted saga over the proposed sale of Gillman Heights (picture) to developer CapitaLand for $528 million. But now, the National University of Singapore (NUS) finds fingers pointing at it after the Strata Titles Board (STB) approved the deal on Friday. The biggest faction opposed to...