En bloc sales in Singapore are gaining momentum as overall collective sales for this year have hit $975 million, according to property consulting firm Jones Lang LaSalle (JLL). About 90 per cent of these transactions came from the residential segment, the firm said. Improving fundamentals in Singapore's property market and the widening gap between new sale and resale prices for residential property are...
Enbloc
Enbloc sales in Singapore are gaining momentum, according to property consulting firm Jones Lang LaSalle. It said overall collective sales have hit S$975 million year-to-date, with the residential segment contributing 90 per cent of the total. In the third quarter, there have been more than 10 collective sales with a residential component. This is almost double the previous quarter's number. There were...
Cardiff Court, a huge D-19 site located near Lorong Chuan and Serangoon MRT station, will be launched for collective sale on Tuesday. The property is expected to fetch around S$25 million. This works out to owners getting between S$700,000 and S$1.45 million, depending on the size of their unit. The 43,490.9 square feet site has 72 years of its lease left, and is zoned for Residential use. The site has...
Marine Point, a freehold 18-storey residential block along Marine Parade Road, is up for collective sale. Covering an area of more than 50,000 square feet, the site can be re-developed into a 25 storey block to accommodate about 100 apartments averaging 1,000 square feet each. ERA, which is handling the collective sale, said more than 80 per cent of the owners by share value and strata floor area have...
Glenville, a 32-unit apartment block in Serangoon, has been sold to Urban Lofts for S$39.51 million in a collective sale. Marketing agent Jones Lang LaSalle said the price works out to be about S$740 per square foot per plot ratio including a Development Charge of S$5.3 million, if payable. Each of the apartment owners stand to receive gross sale proceeds ranging from S$1.179 to S$1.273 million. The...
Sixty-seven strata units in Upper Serangoon Shopping Centre, a freehold mixed development, have been put up for sale by tender. Jones Lang LaSalle, the exclusive marketing agent, said the development consists of a total of 173 units comprising of shops, offices and residential units. The 67 strata retail units with a total area of about 4,392 square metres are up for sale. These units make up a 59 per...
A prime Pasir Panjang site has been sold for S$33 million in a collective sale exercise to boutique developer Link (THM) Greenleaf. The 16-unit walk-up development located at 252 to 258 Pasir Panjang Road, attracted ten bids. The block of flats built in the 1960s, was put up for sale by tender with an indicative price range of S$26 million to S$30 million. "The tender closed with several parties...
Guillemard Court, located along Geylang, Lorong 28, is up for an en-bloc sale. The freehold estate has a land area of 31,684 square feet. It has a plot ratio of 2.8 and can be built up to eight storeys. The existing development is a four-storey walk-up apartment with 32 units The indicative price of the land is S$33 million, which works out to S$360 per square foot per plat ratio. Deans Realtors, the...
Naung Court, a 20-unit development at Jalan Naung in the Hougang area, has been sold to developer Orion-Two Residential for S$28 million. The 32,689 sq ft site is zoned for 'Residential' use with a gross plot ratio of up to 1.4 and can be built up to five storeys. This works out to about S$662 per square foot per plot ratio if a development charge is payable. To date, only one unit out of the 20 units...
FAR East Organization and Orchard Parade Holdings will buy Pastoral View (through an enbloc sale) and the next door plot being sold by OCBC for $122 million. This works out to about $847 per square foot per plot ratio (psf ppr) inclusive of a marginal development charge (DC). Both freehold sites have a combined land area of 51,395 sq ft and can be redeveloped into a new condo with about 140 units...