Tag Archives: 25 Branksome Road

More properties under the hammer in 2015

Singapore’s auction market saw 60 properties listed in Q4 2015, bringing the total number of new listings to 215 for this year, revealed a DTZ report.

According to the property consultancy, the number of properties put up for auction has steadily increased since the TDSR framework was introduced in 2013. Notably, there were 136 new listings in 2014, up from 82 in 2013.

“Both the number of listings for owner sales and mortgagee sales went up significantly year-on-year,” said DTZ.

Owner-sales listings increased from 74 properties in 2015 to 125 in 2015, while mortgagee-sales listings climbed from 47 listings in 2014 to 78 in 2015. Of the 215 properties listed this year, 138 were non-landed residential apartments, and 48 properties were landed homes.

The listings with the highest opening bids in 2015 were dominated by landed properties, which included the landed residential property at 25 Branksome Road at S$15 million and 35 Binjai Park, a Good Class Bungalow, at S$35 million.

The average gross floor area for landed properties listed in auction increased from 4,077 sq ft in 2014 to 4,297 sq ft in 2015, while that for the residential apartments increased from 1,430 sq ft in 2014 to 1,880 sq ft this year.

Overall, the success rate of selling during or before the auction stood at around 13 percent in 2015, down from 2014’s sale rate of 14 percent. Of those successfully sold, 23 were non-landed homes.

There were also more successful bids for larger non-landed homes in 2015 compared to those in 2014. The average floor area of those successfully auctioned climbed from 1,382 sq ft to 1,624 sq ft, with average prices at around S$1.6 million.

The prices of the successfully auctioned properties were usually sold at a discount from 3.5 percent to six percent, said DTZ. However, the price cuts for attractive properties at choice locations is lower as these properties are rarely available for sale.

“Choice properties, especially those that are rarely available in the market, attract a lot of buyers’ interest due to its scarcity. Additionally, we see more buyers willing to purchase these units of higher quantum despite the Additional Buyers’ Stamp Duties, as they offer great value for money,” said DTZ’s Head of Auction Joy Tan.

Katong bungalow to go under the hammer

Image: 25 Branksome Road. (Source: Colliers International)

A freehold redevelopment site at 25 Branksome Road in District 15 will be put up for sale by auction at the end of this month, according to marketing agent Colliers International.

The 13,844 sq ft site is located within a landed housing enclave between Tanjong Katong Road and Crescent Road, and is currently occupied by an old single-storey bungalow.

Under the Master Plan 2014, it is zoned residential and within a “two-storey semi-detached landed housing vicinity”.

According to Colliers, the indicative price for the plot is in the range of $15 million to $17 million, which translates to a psf price of $1,083 to $1,227.

The consultancy noted that the median price of detached houses in District 15 stood at $1,246 psf on the land area in Q2 2015.

“A landed housing site of this size – and one with redevelopment potential – in District 15 is rarely made available for sale. Transactions of similar large sites were last recorded two years ago – a 13,632 sq ft site at Seraya Lane that was sold for $17 million ($1,247 psf) and a 12,525 sq ft site at Goodman Road that changed hands at $16.38 million ($1,308 psf),” said Grace Ng, Deputy Managing Director at Colliers.

“The site has potential for sub-division to accommodate either two detached houses or one detached house and a pair of semi-detached houses,” added Ng, who expects to see keen interest from owner-occupiers and developers.

The subject property is close to shopping malls such as Parkway Parade, 112 Katong and the upcoming The Flow @ East Coast, as well as reputable schools like Tao Nan School and Tanjong Katong Girls’ School. Dakota MRT, as well as the future Amber and Marine Parade MRT stations are also in the vicinity.

The Colliers auction takes place on 30 September at the Amara Hotel.