Archive for category: Real Estate

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The group sale of Lakeside Towers has been relaunched with the same reserve price of $350 million using JLL acting as sole agent for marketing.

Lakeside Towers The property is 99-year leasehold property that has 144 units within two towers of 20 stories at 9G, and 9H Yuan Ching Road, next to Jurong Lake Gardens. The Property was put up to be sold earlier in the year, and an auction that closed in April. The site has attracted a variety of offers of interest, as well as an offer that was lower than the owners’ reserve value of $350 million.

With the owners’ trust of a sale to follow and the confidence of their buyers, the Lakeside Towers Collective Sale committee initiated a second tendering process with an identical reserve of $35 million in the words of Tan Hong Boon, executive director of JLL.

In the 2018 Master Plan, the 153,237 square feet site is classified as residential with Gross plot ratio (GPR) in the range of 2.1. However, the as-built gross floor area corresponds to an GPR 2.36. 2.36.

With the reserve price that is $350m, the per-unit land cost is $1,244 psf/plot proportion (psf ppr) at the GPR base of 2.36 after taking into account an estimated lease top-up fee without any land betterment fee.

If your bonus of 10% Bonus GFA is taken into account fully the unit land rate will be around $1,198 psf per ppr. This includes of the lease top-up cost and land improvement charge.

The site could be redeveloped to create a brand-new 395-unit condominium, according to JLL’s Tan. The property is located near Jurong Lake Gardens, and it is only a ten minute walk to Jurong Lake and the Lakeside MRT Station. It is close to Jurong Point Shopping Centre and the Jurong East MRT interchange station.

The previous Lakeside Apartments next the Lakeside Towers was successfully sold in a single transaction to the well-established registered property developer Wing Tai Holdings in May 2022. The price was $273.88 Million ($1,250 to $1,260 per square foot ppr). Wing Tai intends to will begin construction of its new condominium in the coming months.

Park View Mansions Another 99-year leasehold condominium on Yuan Ching Road, is right next to Lakeside Apartments. The site was acquired in a single transaction in the amount of $260million ($1,023 per square foot ppr) from a group comprised comprising Chip Eng Seng, SingHaiyi Group, KSH Holdings and Ho Lee Group in July 2022. The consortium plans to transform the site into an exclusive condo of 440 units.

On June 22nd, URA launched the tender for the 6.8-ha master developer white site to help kick-start the development of the 120-ha precinct. The site is situated in the center of Jurong Lake District. It will be home to premium apartments office space, recreational facilities and offices in the brand new, green and car-lite area.

Lakeside Towers will benefit from the extensive masterplan of the government to make the area the second CBD JLL’s Tan. “Supported by the strong growth prospects, developers can confidently bid for this site to benefit from the increasing demand for houses and investments in this region,” says JLL’s Tan.

This tender process for Lakeside Towers closes on Thursday the 10th of August.

Three adjacent shophouses with conservation in 138, 140 and 142 Jalan Besar are available for sale through an expression of Interest (EOI) process. The freehold properties will be sold in a group and have an estimate that is $30 million. This is equivalent to $2,908 per square foot of the floor area that currently covers 10,318 square feet.

The shophouses are located on an that covers 4,353 square feet that is zoned to commercial uses. Together, they boast a frontage of 15m across Jalan Besar. The shophouses are just a 2-minute walk away from Jalan Besar MRT Station.

Hillock Green floor plan covering an impressive site area of 13,444.3 square meters, this non-landed residential property promises comfort

CBRE who is the marketing company for the properties The shophouses are currently fully rented and the lower floors lease to a pet-friendly hotel and an outlet for Oxo, a luxury Italian brand of sanitaryware Oxo. A co-living company The Assembly Place tenants the upper floors.

The three commercial shops are well-supported by unique characteristics like the freehold ownership, their strategic location attractive tenant covenants, and approuvé uses, claims Clemence Lee CBRE’s executive director of financial markets for Singapore. He says that shophouses within the vicinity are popular with investors as evidenced by recent notable deals including the sale of 109-117 Jalan Besar for $40 million in September 2022, 311 and 309 Jalan Besar for $28 million in May 2022 and the 301 Jalan Besar for $26 million this month.

The EOI process for the shophouses closes August 2 at 3pm.

A huge HDB apartment at 50 Moh Guan Terrace in Tiong Bahru was sold for world record $1.5 million ($792 per square foot). The sale was arranged by KF Property’s associate deputy division head Alvin Yeo. The property is a 1,894 square foot four-room house on the fourth level of an apartment building that is walk-up. It has 49 years remaining on its 99-year term.

Hillock Green showflat address in a prime location that enhances contemporary living with easy access to a variety of amenities.

As per Knight Frank, the flat is an amalgamation of adjoining three-room apartments with four bedrooms. The recently sold Jumbo flat is located in the Tiong Bahru Estate which is which is surrounded by lush greenery. The location is close to bakeries, cafes, and local coffee shops made it more appealing to potential buyers, according to KF Property Network head Evan Chung.

Based on HDB data on resales At least one additional apartment located in 50 Moh Guan Terrace has changed hands in the last year. The three-room 947 sq ft unit was worth $765,000 ($808 per square foot) as it was sold in the month of March.

Chung was the agent that was the broker for the sale of the prior record-setting price for an resale HDB flat. He assisted the owners of the 1,312 square feet five-room loft at Sky Terrace@Dawson to sell their home to the tune of $1.418 million ($1.081 per square foot) in June of last year.

“The Apartment that was sold by SkyTerrace@Dawson was the very first HDB Premium Loft apartment that has an enlargement of over five meters,” says Chung. Chung adds that flats that are likely to fetch a higher than the resale market usually have distinctive features or feature a desired address.

Research conducted by Knight Frank shows that resale HDB flat buyers have progressively switched to larger homes after the Singapore’s “circuit-breaker” period in June 2020. The increase in demand has led to greater prices for larger units, according to Chung. He adds, however, that million-dollar HDB’s constitute only a small portion of the overall HDB marketplace, while the majority of flats that are available for sale are fairly affordable.

“Policies such as such as the HDB Buy-to-Order (BTO) program, CPF family grants and various other initiatives from the Housing Development Board have helped Singaporeans obtain affordable housing in order for starting a family.” Chung adds Chung.

In the 1Q2023, the HDB price index for resales grew by one% in q-o-q. This was the lowest quarterly rise for the price index when compared to the previous 10 quarters. The price increase in 1Q2023 was less that what the 2.3% q-o-q increase recorded in the 4Q2022.

A freehold home situated on Fernhill Close in District 10’s prime area is available to sell for over $22 million, according to the agent for marketing Knight Frank. The two-story house is situated on a 7,386 square foot lot. The minimum price for the property is $2,978 per square foot.

Hillock Green Forsea Residence, Soilbuild & UED Alpha consortium were awarded this site at Lentor Central, Hillock Green. Their winning bid totalled to $481,028,300.

It is situated in a mixed-landed estate of three stories close to it is the Nassim Road Good Class Bungalow (GCB) area. The bungalow was constructed in the late 1990s and is located at the end of a cul-de -sac, with a frontage of 40m in Fernhill Close.

In the words of Knight Frank, the sale is an opportunity for buyers to invest in redeveloping the site. The exclusivity of the area is enhanced by its proximity to Nassim Road GCB area and other homes on land in Fernhill. Fernhill estate.

The property could be transformed into a new, luxury three-storey house or niche semi-detached houses subject to approval by the appropriate authorities. It is also a great option for huge families with multiple generations seeking to build a new house, according to Chia Mein Mein. the head for capital markets (land and cumulative sale) for Knight Frank Singapore.

Based on URA restrictions In accordance with URA caveats, a record-setting land value was just achieved in the area with three GCBs located at 42, 42A as well as 42B Nassim Road were sold at a price of $4,500 per square foot in April of this year. Cuscaden Peak Investments sold the three properties for $206.7 million.

“With buyers still steadfast in their desire to purchase this rare housing type in high-rise Singapore there was a amount worth of S$1.4 billion of land homes was sold during the 1Q2023 period that is the 28% increase over the prior period,” says Chia.

She also says that the buying mood in the land market is expected to remain strong, aided by an increasing wealth among Singaporeans and new high-net-worth customers. “We expect a lot of interest from investors, homebuyers and developers due to the position of the property as well as its sought-after address, as well as the dearth of homes with lands available to purchase in this area.”

The auction for the sale of this house will end on the 25th of July.

Read related article: In the RCR, median one- and two-bedroom prices increased 31.3% year on year in 1Q2023

Two retail units in the strata of East Village in Bedok are being offered for sale at $10.4 million. In a press release that announced the sale Savills Singapore, the marketing agent, claims that the units are available for purchase in pairs or individually. The suggested price for the unit is $5.3 million.

The units on the ground floor are fully F&B approval. They are situated near the mall’s entrance. Only 12 out of the 108 retail units located at East Village have F&B approval According to Savills.

These units will be sold in conjunction with existing tenancies that have dedicated entrances, which give tenants the freedom to work outside the mall’s regular operating hours. Each unit comes with an area of 969 square feet which includes an en-suite bathroom.

East Village is an open-air shopping mall that is freehold situated on Upper Changi Road. The mall was built in the year 2014, and it is a four-storey mixed-use project that houses 108 stores on the ground level and 90 apartments on the top floors. There is a carpark in the basement and a nearby open-air carpark.

Yap Hui Yee, executive director of capital markets and investment sales at Savills Singapore, says: “Within the Bedok-Upper Changi region there are just three malls that are strata-titled: East Village, Bedok Shopping Complex and Eastwood Centre. East Village, completed in 2014 and with freehold tenure is the most recent development.”

She continues, “Given the palatable quantum and the scarcity of freehold land in this sought-after Bedok location These two top units in East Village presents an enticing opportunity for investors to buy to diversify their portfolios.”

She anticipates a strong interest in buying in the two strata units to be received from both end-users and investors. They will be sold via an exercise of expression of interest which will close on July 20th.