CapitaLand has said it will acquire enbloc property Marine Point for S$100.68 million. The latest acquisition brings CapitaLand's pipeline of homes in Singapore to 2,600 units altogether. Marine Point, located in the Marine Parade neighbourhood, will be acquired at S$1,056 per square foot per plot ratio. This is inclusive of a development charge of S$12.8 million, said CapitaLand in a...
Collective Sales
Holland Tower has been put up for en bloc by its marketing agent Jones Lang LaSalle. Market watchers expect the site to fetch about S$1,300 to S$1,400 dollars per square foot. This is comparable to nearby developments like Robin Court, Maison Royal and Serene House. The 14-story single tower development is located on a 22,000 square feet site currently zoned for residential use. Jones Lang said the new...
Regent Court, a freehold residential property at 1091 Serangoon Road, has been put up for sale by tender. The property has a combined land area of 38,857 square feet and is zoned for high rise residential development of up to 36 storeys. It has a plot ratio of 2.8, which allows a maximum gross floor area of 108,800 square feet. No development charge is payable. According to its marketing agent Cushman...
Camay Court, a freehold residential redevelopment site in District 15, has been put up for sale. It currently comprises 23 walk-up apartments, with unit sizes ranging from 114 square metres to 131 square metres. Marketing agent Knight Frank said the site, situated in a residential enclave along Lorong M Telok Kurau, has a land area of 2,966 square metres. The 2008 Master Plan has designated the site for...
Two properties, Ying Mansions at 25 Robin Road and Villa D'Este on Dalvey Road, are up for sale, marketing agent CBRE said yesterday. Ying Mansions is an 8-unit development with a gross floor area of 55,000 square feet. The site has a plot ratio of 2.1 and can be built up to 24 storeys. CBRE said the property was expected to fetch $70 million. It said Ying Mansions would attract developers looking for a...
In a changed market, there is little, if anything, to be excited about Several articles have been published in the media and by property analysts in recent months about the frenzy surrounding enbloc deals and the increasing values of these collective sales. Some of these are really bullish about the potential for such transactions this year. I cannot see where the excitement is because I understand the...
Maison Royale - a 20 unit freehold development in District 11 near Newton Circus, has been sold to developer Giant Land for $46 million. The 14,107 sq ft development was sold last month, up to 40 units averaging 988 sq ft can be built on the site. Giant Land has agreed to buy the property pending the required approval of the Strata Titles Board. The developer might also have to fork out an estimated...
After a strong run last year, it looks like the en bloc market is ushering in the new year with a bang. Apartment complex Whitley Heights is up for collective sale -- the first property to be offered this year. Re-zoned for landed housing, the site should attract substantial interest, according to analysts. Experts said sites like the Whitley Heights apartment complex are a rare find. Located off...
The collective sale market has had a mixed 2010 but two trends have emerged - prime areas are losing favour, while small plots are big hits with developers. While there has been plenty of action - more than 30 deals were completed totalling about $1.7 billion - almost half the sites up for grabs through tender are still unsold, with many of those in prime spots. The focus has shifted from prime areas...
Singapore's residential collective sales market is poised for larger deals after rebounding strongly this year from a virtual lull last year, according to real estate services firm DTZ Research. Since the start of the year, 34 residential collective sale deals worth a total of about $1.5 billion have been transacted, according to DTZ's quarterly report. The burst of activity this year followed the...