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...
Enbloc
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...
A commercial building at Middle Road has been put up for collective sale by tender. The building known as Bright Chambers has an indicative price tag of between S$45 million and S$50 million. The 9-storey building has 8 units with a total strata area of 34,972 square feet. Exclusive agent for the deal Jones Lang LaSalle says the site has a land area of 5,263 square feet. The building is located next to...
Ultra Mansion, a freehold residential development near Novena MRT station in prime District 11 has been sold through a collective sale for S$149.130 million, in a deal brokered by Cushman & Wakefield (C&W). “The sale of Ultra Mansion following the recent round of cooling measures illustrates the attractiveness of Singapore’s residential real estate market for investment. Residential units in...
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...
A freehold property on Whitley Road is up for a collective sale. According to its marketing agent DTZ, the development Villa Des Flores is located in the Chancery-Bukit Tunggal neighbourhood. The 9,696.3 square metre site can be redeveloped into a two-storey mixed landed housing project. The developer has the option to build detached, semi-detached and terrace housing, or a combination of all. As a...
The eye-popping S$590 million collective sale of Thomson View Condominium faces opposition from 13 of its owners who claim the block is undervalued, The Straits Times reported. As a result, the Strata Titles Board has issued a stop order that takes effect on 14 January as three rounds of mediation for the condo have been unsuccessful. The main issue is reportedly the sale price. Those objecting feel they...
Guang Ming Industrial Building, located at No 65 Upper Paya Lebar Road, has been put up for collective sale. The freehold industrial 'white site' has a land area of 19,789 square feet. Its marketing agent Cushman & Wakefield says the site is expected to fetch more than S$58 million. Among the likely interested parties for the site include small to mid-sized developers and those companies looking for...
Kismis Lodge, a freehold site located off Toh Tuck Road, is up for collective sale. This is the second time the site is being put up for sale. According to its marketing agent Jones Lang LaSalle, the 70,283 square feet site is zoned for a "3-storey mixed landed" development. The site can be redeveloped to yield up to 43 strata terraces or a combination of conventional and strata landed homes, subject to...