Peace Centre and Peace Mansion on Sophia Road were put up for sale on Monday (Dec 15) with an indicative price of approximately S$680 million, according to Colliers International, the property consultant that launched the sale. The property on 1 Sophia Road sits on a 76,617-square-foot site that has a 99-year leasehold tenure that commenced on Jun 2, 1970. The subject site is zoned for commercial use,...
Enbloc
Derby Court, a boutique freehold site located in District 11, has been put up for sale, according to Savills Singapore on Tuesday (Nov 25). The 12-storey development occupies approximately 1,719.3 square metres, or 18,506 square feet, at 5 Derbyshire Road. The 35-year-old development consists of 22 apartments with an existing floor area of 53,094 square feet, and is zoned under "Residential", said...
Citimac Industrial Complex at the junction of Macpherson Road and Paya Lebar Road has been put up for collective sale, with the owners seeking bids of S$550 million and above. Cushman & Wakefield, which is handling the en-bloc sale, described the complex as a rare developable site near the Paya Lebar iPark vicinity and the Paya Lebar Regional Centre. According to Cushman, Citimac occupies a land area...
Collective or en-bloc property sales in Singapore have come to a standstill and the market is unlikely to recover unless sellers lower their price expectations and stop aiming for huge windfalls, real estate services firm Colliers International said on Friday (Aug 22). This is because government policy measures to curtail speculative real estate activity and to foster financial prudence have taken much...
Spring Grove, a condominium along Grange Road, has been put up for sale by tender. According to its marketing agent Knight Frank Singapore, the owners are expecting offers in excess of S$1.39 billion. This includes a lease top-up premium for a fresh 103-year lease. That will make it the the largest ever enbloc sale in Singapore, in terms of value. Spring Grove sits on a site with a land area of about...
The en bloc market, which has been subdued following additional tightening measures imposed on the property sector last year, is expected to remain quiet this year as developers turn increasingly cautious, while sellers are reluctant to budge on asking prices. According to data provided by property firm CBRE to TODAY, the number of en bloc sales fell to only seven last year from 25 in the previous year...
Riviera Point, a 33-unit residential development at the junction of Kim Yam Road and River Valley Road, has been re-launched for collective sale, with the owners seeking offers in excess of S$68 million. The S$68 million asking price translates to about S$1,379 per square foot based on the potential gross floor area, sole marketing agent Jones Lang LaSalle said in a statement on Monday. If...
An apartment development in the prime District 11 has been put up for collective sale, with its owners looking for offers in excess of S$40 million. The 16-unit apartment on Moulmein Road sits on freehold land of around 17,000 sq ft, across the road from Novena MRT Station, and Velocity@Novena and Square 2 shopping centres. The area is also served by the Central Expressway and Pan Island Expressway,...
Analysts have said the collective sales of large Collective sale projects will remain challenging amid a slowing property market. Of the 13 HUDC estates that have been legally privatised so far, only five have successfully completed the en bloc deal. Braddell View is the last of 18 HUDC estates to be announced for privatisation. Analysts said that should it go through, residents will have greater...
The en bloc market has slowed significantly this year as developers turned cautious following the government's cooling measures and loan curbs. The value of en bloc transactions fell to S$1.3 billion so far this year, down from S$1.4 billion in 2012 and S$3.2 billion in 2011, according to property consultant Jones Lang LaSalle. Eunosville is up for en bloc sale for the second time, after its first...