Tai Keng Court, a freehold residential and commercial redevelopment site in the Upper Paya Lebar area, has been put up for collective sale. In a statement, its sole marketing agent Jones Lang LaSalle said the indicative price for the site is around S$130 million or about S$903 per square foot per plot ratio, subject to the tender process. About S$1.325 million is payable for development charge. The plot...
Enbloc
Property en-bloc sales have been picking up pace over the last few weeks, and so far, there are already eight en-bloc sites offered for sale since January. Still, analysts say they are not too upbeat on the prospects of collective sales as demand for such sites remain soft. Minister for National Development Khaw Boon Wan said in his blog last month that collective sales of private properties are...
Crystal Tower, an 11-storey residential development off Bukit Timah Road, has been put up for en bloc sale again. Property consultant Colliers International is re-launching the freehold residential site located at Nos 41-45 Ewe Boon Road for sale by tender with an indicative price of S$150 million. The site measures 60,482 square feet and is zoned for residential use. Colliers said it can be turned into...
A mixed-use freehold development at Cactus Road, off Yio Chu Kang Road, has been put up for collective sale with an expected price tag of S$80 million to S$85 million. The site area is 73,098 square feet and the existing development was built in the 1980s. It has been zoned as a residential with commercial at 1st Storey and has a Gross Plot Ratio (GPR) of 1.4 with an allowable height of up to four...
Two prime freehold residential redevelopment sites off Balestier Road have been launched for en-bloc sale, with a total price tag of approximately S$149 million. Sole marketing agent Jones Lang LaSalle (JLL) said the sites are located along 2 to 16 (even only) Kim Keat Lane, 1 to 19, 21 and 23 Kim Keat Close, off Balestier Road. Both sites are zoned for residential development with a gross plot ratio of...
Several potential en bloc deals have been launched recently as homeowners in these developments attempt to capitalise on the current record-high residential property prices. However, I believe they are likely to be disappointed as this year's outlook for the en bloc market looks pretty dim. In a typical en bloc deal, homeowners of a residential building agree to sell their units collectively to an...
The days of en-bloc fever appear to be in the past, with new data released by the National Development Minister suggesting that such activity has slowed in recent years. In his latest blog post, Mr Khaw Boon Wan revealed that some 1,400 private housing units were sold through en-bloc activities in 2011. He said this number is low compared to the peak in 2007, when 5,862 units were sold. Mr Khaw said it...
Two freehold redevelopment sites - Asia Gardens and Jade Towers - have been put up for collective sale by tender. The two sites are located in districts 2 and 19 respectively. The collective sale of Asia Gardens has an indicative price of between S$302.6 million to S$307.7 million, or about S$1,500 to S$1,525 per square foot (psf) per plot ratio (ppr). No development charge is payable for this...
Ming Arcade, a commercial development in the prime Orchard Road area has been put up for collective sale by tender for the second time. The sole marketing agent, Jones Lang LaSalle, said the relaunch also comes with a lower asking price of over S$120 million. Meanwhile, the site was offered at more than S$130 million during the first tender exercise. Stella Hoh, national director and head of investments...
The value of collective sales for this year has surpassed the S$3 billion mark, strongly driven by the sale of smaller sites. According to data from Credo Real Estate, about 49 sites were sold in 2011 for a total of S$3.04 billion — a significant increase from the 36 sites sold for S$1.77 billion last year. Most of the sites went for below S$100 million, with only 12 sites sold for above the S$100...