Cairnhill Mansions, a freehold residential site in District 9, has been released for collective sale with an indicative price of S$361.5 million (around S$2,308 psf) and no development charge (DC). Its current price tag is lower than the S$443.6 million (S$2,833 psf) guide price set for the property in an earlier collective sale attempt in late 2007. The property is zoned for residential use with a...
Enbloc
Amber Towers was sold to Resource International Holdings, a wholly owned subsidiary of China Sonangol Land Pte Ltd, for S$161.6 million, said sale manager Savills Singapore. The District 15 freehold redevelopment site occupies an area of approximately 40,708 sq ft and can potentially accommodate a new high rise residential development with a maximum permissible gross floor area of about 144,604 sq ft...
Property insiders claim that the 23,020 sq ft freehold condo Fortredale at Tanjong Rhu has been sold for approximately S$65 million, or about S$1,342 psf ppr. The alleged purchaser is a low-profile Chinese developer, which is also building a project in the Balestier area. The collective sale of Fortredale was brokered through a tender by CB Richard Ellis (CBRE), which closed on 29 March. Analysts expect...
A freehold residential site at 28 Lim Tua Tow Road is up for sale. The 28,676 square feet site presently accommodates three single-storey houses. Based on the Master Plan 2008, it can be re-developed into a five-storey development comprising about 43 apartments averaging 850 square feet each. Savills Singapore, which is handling the sale, said that the sale of this site is expected to be carried out...
Tulip Garden was set to be the third-largest en bloc sale in Singapore, with a reserve price of S$650 million. However, after the 31 March deadline, no developer has signed for the 164-unit Farrer Road condominium. Launched in December, the tender for the 316,708 sq ft property closed on 20 January. Three parties were believed to have expressed interest in the tender but no bids were submitted. Under...
Leong Bee Court, a freehold residential development located at Woodsville Close, off Upper Serangoon Road, has been put up for collective sale. The indicative asking price of S$60 million to S$68 million works out to S$668 to S$758 per square foot per plot ratio. No development charge is expected. The site has a land area of about 29,400 square feet. Under the URA Master Plan 2008, it is zoned for...
Three properties in Newton, Braddell and Bukit Timah were launched for collective sale on Wednesday. Freehold apartment Newton Lodge at 41 Newton Road has a reserve price of S$40 million and a development charge of S$2.18 million. That is according to CB Richard Ellis, the marketing agent for the site. The price translates to S$1,407 per-square-foot-per-plot-ratio (psf ppr) for the 16-unit,...
Camay Court, a freehold residential redevelopment site in Lorong M Telok Kurau, has been sold to Residenza Pte Ltd for S$30.5 million. Residenza is a consortium of property developers Heeton Holdings, KSH Holdings and contractor TEE International. The consortium also acquired Macpherson Green, another residential development, with Zap Piling just a day earlier. Camay Court's marketing agent Knight Frank...
Experts have said Pine Grove's high development charge (DC) of S$460 million may be a deal breaker for property developers. They add that the site's DC has increased by 9.5 per cent, in line with the DC rate hike earlier this month. Including the DC, analysts said Pine Grove's total cost for a buyer works out to S$2.16 billion or S$1,152 per square foot per plot ratio. A lush green view is what Pine...
A consortium of four companies have agreed to jointly acquire the MacPherson Green site for S$105 million, through a collective sale tender. They include niche property developer Heeton Holdings, together with KSH Holdings, TEE International and Zap Piling. Heeton will own 40 per cent of the project, while KSH will take up 25 per cent, TEE International will hold 20 per cent and Zap Piling will take the...