Some shophouses here are hoping to cash in on the success of recent en bloc sales. A row of 13 freehold shophouses at Owen Road have been put up for collective-joint sale. All the owners have agreed to the sale and the indicative price is in the region of S$43 million or about S$930 per square foot per plot ratio.Shoph There's also a development charge of some 1.25 million dollars. The 15,388 square...
Collective Sales
Naung Court, a freehold residential development in Hougang, is trying for an en bloc sale. The indicative price for the land is between S$28 million and S$30 million, which works out to about S$650 to S$700 per square foot per plot ratio. A development charge of some S$2.7 million will be payable. The site, located along Upper Serangoon Road, is 32,689 square feet in size. It has a gross plot ratio of...
THE collective sale market continues to gain momentum, with two freehold residential sites at Paya Lebar and Hougang up for tender. Huttons is handling the sale of Charlesville, a five-storey 18-unit development at Upper Paya Lebar Road. Sixteen of the 18 owners have agreed to the sale and the asking price is around $31 million. The site is 34,160 sq ft and has a plot ratio of 1.4. Charlesville's...
BALMORAL Condominium, located in the prime District 10 area, has been put up for sale by tender with an indicative price tag of $171 million to $175 million, or about $1,866 to $1,910 per square foot per plot. Marketing agent Savills Singapore said over 80 per cent of owners have agreed to the collective sale. A previous unsuccessful attempt at enbloc sale had been made in 2007 at much lower prices. The...
A condominium near Novena MRT is teaming up with an adjoining site for an en bloc sale. The 50-unit development Pastoral View is being offered for joint sale with an adjoining land parcel at Bassein Road. Property consultant Credo Real Estate says the sellers are looking at a price of between S$130 million and S$150 million. Credo adds that by combining the two sites, developers will find the enlarged...
Despite changes in the Land Strata Titles Act, developments are continuing their en bloc runs Property owners with en bloc sale aspirations seem unfazed by the new provisions to the Land Strata Titles Act which took effect last week as a number of them are still proceeding with their collective sales as planned. Developments such as Allsworth Park, Mayfair Gardens, Thomson View and Shenton House are...
Holland Tower, a freehold residential apartment block in District 10, is up for sale by tender. Sole marketing agent Jones Lang LaSalle said the 21,879 square foot site is zoned for residential use and sits in the Holland Park Good Class Bungalow Area. It has a gross floor area of about 43,691 square feet and has the potential to be redeveloped into a boutique residential development of 52 units of 800...
Prices now start from a higher base and attractive prime sites have already been sold Last Wednesday, a relatively small property, Melrose Court, off Balestier Road, was launched for collective sale. Owners of the 32 freehold units there are asking for $48 million, and hoping to reap between $1.23 million and $2.46 million each. Marketing agent Colliers International said the 'en bloc' premium each...
Sale proceedings may have begun at up to 80 developments, with many more to follow They were a feature of the last boom but fast fell out of favour when markets went south, yet there are signs that another collective sale rush is in the making. There have been at least 16 collective sales this year, not counting many smaller ones that may have gone unreported. This is in stark contrast to last year,...
FAR East Organization has signed a deal to buy 31 Parbury Avenue off Upper East Coast Road for $55 million - a price that works out to $898 per sq ft of land area. A two-storey bungalow stands on the sprawling 61,240 sq ft freehold site, which can be redeveloped into eight luxury bungalows or a strata landed-housing scheme comprising either 14 bungalows or 28 semi-detached houses or 37 terrace houses,...