Parkway Mansion has been sold at S$146.99 million to SL Capital (3) Pte Ltd, a consortium led by Sustained Land Pte Ltd. The sale price was 6.5 per cent above the owners' guide price of S$138 million during the tender that was launched on Nov 16. The sale price and an estimated development charge of about S$21 million translate to a land rate of S$1,536 psf per plot ratio. The development charge is...
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Another residential development has been launched for a collective sale, this time at 11 Balmoral Road. All owners of the 17-unit freehold development in prime district 10 have given their approval for the sale. The sole marketing agent JLL said that owners are asking for S$75 million, which translates to an estimated land rate of about S$1,761 per sq ft per plot ratio (inclusive of development...
Developer City Developments Limited (CDL) is taking a second bite of the cherry with plans to redevelop Katong condominium Amber Park, which it built in 1986, into a far bigger project. CDL lodged the bid through its Cityzens Development subsidiary and a joint-venture partner from parent Hong Leong Group in an 80:20 pairing. It beat seven other bidders with a $906.7 million offer as the 200-unit estate...
A subsidiary of Malaysian property developer Selangor Dredging has purchased a parcel of prime freehold land in the Orchard area. Champsworth Development, which is 50 per cent owned by Selangor Dredging, paid S$72 million for 1 Draycott Park. This translates to a price of approximately S$1,787 per sq ft per plot ratio, inclusive of development charges for the 17,442 sq ft site. The developer said it was...
The residential collective sales market is poised to pick up this year, with analysts citing the limited supply of private housing sites at state tenders and strong demand for land by developers as key factors. A collective sale, also known as an en bloc sale, refers to a combined sale by the owners of property units to a shared purchaser with sale proceeds divided amongst the unit owners. In 2016,...
Former HUDC estate Rio Casa was on Monday (Apr 10) put up for collective sale, announced its marketing agent Knight Frank in a news release. Owners of the river-fronting estate along Hougang Avenue 7 are expecting offers above S$450.8 million for the property, which translates to a land rate of about S$586 per square foot per plot ratio, according to Knight Frank. The price includes about S$141.5...
CUSHMAN & Wakefield, together with the Collective Sale Committee, has secured approval for the redevelopment of Singapore's first air-conditioned mall Katong Shopping Centre for commercial and serviced residence use. The reserve price remains the same at S$630 million which translates to a land price of $S2,248 per square foot of gross floor area, said Cushman & Wakefield, the exclusive marketing agent...
A boutique prime freehold residential development site in District 10 will come on the market when the collective sale of One Tree Hill Garden is launched within the next week. BT understands that the reserve price in the collective sale agreement signed by the majority owners of the three-storey walk-up apartments is about S$70 million. This translates to S$1,792 per square foot based on the land area...
Katong Shopping Centre has been put up for collective sale for the third time. The reserve price is set at S$630 million. This translates to a land price of S$2,248 per square foot per plot ratio. The mall, which contains 425 units, sits on a freehold plot of nearly 87,000 square feet. Situated along Mountbatten Road, it houses among others, offices, employment agencies, printing and tailoring...
Jalan Besar Plaza will be put up for sale again after a bid to sell the building last November failed, real estate group Huttons said on Monday (Jun 6). The 36-year-old building will be launched for public tender on Tuesday at a minimum price of S$380 million, or S$2,115 per square foot per plot ratio. The sale in November had priced the building at S$390 million but did not receive any bids. The...