The 40 year old former Normanton Park estate located near Kent Ridge Park has been sold to Chinese Developer Kingsford Huray Development for $830.1 million above the reserve price of $800 million around. It translates to about $969 per square foot per plot ratio and is the highest land rate for a 99 years leasehold development.
Normanton Park is located at 1 Normanton Park. Each owner will get to profit around $1.68 million and $1.86 million. The Normantion Park enbloc sale took place in October Year 2017 comes with an additional winning bid of $231.1 million to top up the fresh lease to 99 years. And also a fee of $283.4 million to redevelop the site to the gross plot area of 2.1. The site has the potential to yield about 1200 units averagely based on 100 square metre.
Normanton Park was privatised in Year 1993. It has total 13 blocks of 488 residential units with a site area of 61,408.9 square metre. Previously Normanton Park en bloc failed their first attempt in October Year 2015 for $840 million reserve price. It was expected to launch at more than $1400 per square feet. As of today, these are the third plot of land bought by the developer Kingsford their recent new condo launch was Kingsford Waterbay at Upper Serangoon View.
Crystal Tower at Ewe Boon Road in Prime District 10 snapped and acquired by ALLGREEN Properties for $180.65 million in December Year 2017. The selling price reflects a land rate of $1,840 per square feet per plot ratio. The 28 units in total was built in the 1970s.
Crystal Towers 5,619.0 square meters (60,842 square feet) site can be redeveloped into a new condo launch project around 130 units, gross floor area of 9,121.17 square meters (98,179 square feet) and reflecting an equivalent plot ratio of 1.623. No need any development charge.
Each apartment owner at Crystal Tower is expected to pocket gross profit of between $6million and $6.6 million, while penthouse owner received about $12.3million.
ALLGREEN Properties has secured freehold site acquiring Royalville for $477.94 million in December Year 2017. It attracts total of nine bids from local and foreign developers at a selling price of about $1,960 per square foot per plot ratio.
Royalville nestled in Bukit Timah near Sixth Avenue MRT station, completed in the mid 1980s. It sits on a land area of 16,181.50 square meters zoned residential with a gross plot ratio of 1.4 comprises 55 apartments, 38 maisonette and 11 shops.
Each apartment owner at Royalville en bloc will receive between $3.09million and $3.76 million while the maisonette owner will receive between $5.42million and $6.64 million. For the shop owners, each expected to receive $5.67 million to $10.38 million.
Amber Park a 200 unit freehold located at Katong has been snapped up for $906.7 million in Singapore’s largest collective sale in October Year 2017 as of today. Amber Park was build in Year 1986 and was bought by City Developments Pte Ltd (CDL) and Joint Venture Partner Hong Realty. This is the fourth time that Amber Park was put up for sale and received more than 8 bids with no bid for the tender previously in June Year 2015. It also marks the 15th successful collective sale in the Year 2017. Both the developers will respectively hold a 80:20 stake in the project.
The sale price relates a land rate of $1,515 per sq ft per plot ratio and based on allowable plot ratio of 2.8. It is 18% premium over its reserve price of $768 million. There is no any development charge payable for the proposed development. Each owners are expected to received gross sale proceeds of $4.3 million and $8.3 million.
CDL and Hong Realty planned to redevelop the freehold plot into a luxury condominium comprising four 25 storeys blocks with close to 800 units and a basement carpark. Most of the units will have north south facing and commanding sea views. The current site area is 213,675 with an allowable gross floor area of about 598,290 sqft.
Amber Park is located in the established and well sought after Katong and East Coast area near the upcoming Tanjong Katong MRT station. And also with the upcoming of Thomson East Coast Line and rejuvenation of East Coast Park too. CDL was also the original developer for Amber Park three decades ago in Year 1986.
The new development had been launched in Year 2018 and retained the same old name as ‘Amber Park‘ too.
Jervois gardens a freehold development in River Valley has been sold to SC Global for $72 million. It is put up for sale by tender for $68 million. The development comprises two low rise blocks of 14 maisonettes and three apartments at Jervois road. This was Jervois gardens third attempt at a collective sale and total 8 bids for the prime freehold site.
The winning bid translates of $72 million translates to about $1,373 per plot ratio with a gross plot ratio of 1.4. Each apartment can potentially receive between $3.3 million and $4.5 million.
Jervois gardens sits on a freehold land area with a regular in shape of about 34,038 sqft. It can yield a gross floor area of 52,419 sqft including an additional 10% gross floor area for balconies. The freehold site is located between Redhill MRT station and the future Great World City MRT station. It has the potential to redevelop into a five storey apartment comprising 60 units of about 850sqft.
Nanak Mansions a freehold development in upmarket Meyer Road has been bought over by UOL Group for $201.1 million for a en bloc deal in September Year 2017. It was the fourth residential site in Meyer Amber-Roads vicinity to have joined for the en bloc markets. The site of 10,185 sqm has a gross plot ratio of 1.4. It can be redeveloped into a five storey development with a maximum gross floor area of 153,482 sqft which can accommodate a maximum of 203 units with average sized of around 700 sqft.
The sale price translates into $1,429 per sqft per plot ratio after factoring in the development charges payable upon redevelopment.
Nanak Mansions a low rise development completed in the Years 1980s, comprises of 36 maisonettes. It is located 400m from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line. And it is regarded the best part of Singapore’s East Coast. The development belongs to the members and families of a low profile Singaporean Indian Family. The family developed Nanak Mansions but no family members live there. All the 36 units has been rented out.
Sun Rosier located at Bartley sold at a top bid of $271 million for about 15% more than the the reserve price of $235 million in September Year 2017. There were total 4 bids for the freehold development in How Sun Drive. The winning bid came from joint venture between SingHaiyi Properties. A Singapore listed real estate group SingHaiYi Group and Huajiang International.
The sale price translates to $1,325 per square feet per plot ratio for the 146,046 square feet site. Each owner is expecting to gain an estimated $2.86 million to $4.77 million.
Sun Rosier a 78 units freehold development build in Year 1985. It is only 5 minutes walking distance to Bartley MRT station. And it is also close to a number of schools including Maris Stella High, St Gabriel’s Secondary and Paya Lebar Methodist Girl’s Secondary School.
Oxley Garnet subsidiary has exercised options to buy six units at 208 Yio Chu Kang Road on 31st of August Year 2017 which has a land area of about 1,313.3 sqm zoned for residential use. The Oxley Holdings intends to redevelop the 99 years leasehold formerly known as Toho Green at a purchase price of $8.4 million. Each owners stands to gain profits of $719,000 to $1.05 million from the collective sale.
The 99 years leasehold Toho Green enbloc is completed in Year 1993 and located within a 1km radius of Xinmin Primary School and is also near Bowen Secondary School.
The albrraca condominium a freehold 10 storey residential development along Meyer Road has been sold in its first attempt at a collective sale to Sustained Land for $69.1 million. The owners had hoped for a price from $62 million to $65 million. After several bids were lodged, the bid is 11.5% higher than the owners expectations.
The price works out to be $1,409 per square feet per plot ratio inclusive of development charges payable to intensify the land use. Each owners stands to pocket around $4 million to $7 million in the fifth enbloc in 20 July Year 2017.
The 23,400 square feet freehold land at Meyer Road near the upcoming Katong Park MRT station has an allowable gross plot ratio of 2.1 under the 2014 Master Plan. It could be redeveloped into a high rise project about 18 to 24 storeys with 65 apartment units with an average 70 square meet or 750 square feet. It is also located at a much sought after prime location which is close to Central Business District and Changi Airport.
The first collective sale this year 2017, Lum Chang Holdings Limited is acquiring One Tree Hills Gardens for $65 million, below the owner’s asking expectation of $72.8 million. The sale price translates to a land rate of $1,664 per square foot based on the site area of 39,063 square feet. It is zoned for two storey semi detached residential use under the 2014 Master Plan.
The piece of freehold land is located at the junction of One Tree Hill and Jalan Arnap. It is accessible to Orchard Road and is within 300 m from the upcoming Orchard Boulevard MRT station along the Thomson East Coast Line. The One Tree Hills Garden enbloc consists of Six maisonettes and seven apartments with sizes ranging from 1,916 square feet to 4,682 square feet. Each owners will get to pocket $4.3 million to $9.1 million around.
The developer intends to redevelop into residential landed homes for sale.
This is the first collective sale involving a mixed use property Goh & Goh Building and is the second collective sale in Year 2017. The sale price for $101.5 millions is acquired by a unit of BBR holdings. BBR’s subsidiary Alika Properties Pte Ltd is 62 percent owned by BBR Development Pte Ltd, a wholly subsidiary of the group. The owners had asked for $120 million which was below the collective sale price.
The four storey freehold property sits on a 2,868,3 square metres of land area at Upper Bukit Timah Road. It is zoned residential with commercial on the first storey and has a plot ratio of 3.0
Goh & Goh Building is located at 11o to 122 Upper Bukit Timah Road comprises seven apartments and seven shops. It is next to Beauty World MRT station, Beauty World Centre and Bukit Timah Shopping Centre. The freehold site can potentially yield about 100 residential units with a level of retail shops on the ground floor taking into account the permissible gross floor area of 8,604.9 meters
Listed company Chip Eng Seng has won the collective sale tender for Changi Garden with a bid of $248.8 million in 17 October Year 2017. The developer won the bid at a selling price of 27% higher than the asking price of $196 million. The freehold property Changi Garden is located at the junction of Changi North and Jalan Mariam. It comprises 60 apartments, 12 penthouses and 12 shops.
Each owners of the 60 apartments will receive between $2.14 million and $2.27 million, while the penthouse owner will each received between $4.03 million and $4.74 million. As for the shop owners each will receive $4.7 million to $7.08million. The sales price translates to $888 per square feet per plot ratio for the 200,093 square feet site. The site is zoned residential at a plot ratio of 1.4 and there is no development charge and can be developed to a maximum allowable gross floor area of 280,130 square feet.
The developer planned to redevelop the site to a low rise condominium with full facilities and some retail shops with estimated 320 units in total. The estimated break even price for the new development would be about $1,350 to $1,400 per square feet.
Roxy Pacific Holdings has acquired Dunearn Court a 19,203 square feet site for $36.3 million. It is zoned residential with a gross plot ratio of 1.4. The sales prices is included with a development charge of about $550,000 and translates to a land price of about $1,371 per square foot per plot ratio. Each owner stands to pocket about $2.91 million to $3.12 million.
The Dunearn Court en bloc is situated within 500 meters from Tan Kah Kee MRT station and Botanic Garden MRT station. It is also close to Singapore Botanic Gardens and schools including Nanyang Primary School and Nanyang Girls School.
Freehold Casa Contendere in Glistead is bought over by Developer Tee Land in a collective sales of $72 million in 8 November Year 2017. The price works out to $1,638 per square foot per plot ratio inclusive of a estimated development charge of $15.1 million.
The Casa Contendere en bloc is located in District 11 near Newton MRT. The estate has a land area of 37,972 square feet and 1.4 plot ratio and with a 4 storey block comprising 11 maisonette units. Each owner will get $5.9 million to $7.5 million per unit. The collective sale was sealed through a private treaty by William Gan Realty. The deal will not be subjected by the Strata Titles Board as unanimous approval from the owners has been obtained.
The site is expected to be able to redeveloped into an apartment with about 70 units at an average size of 753 square feet gross floor area.
To be updated soon !
- How Sun Park
- Derby court
- Parkway mansions
- Vista Park