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Landmark Tower up for public tender

Posted on 5 Jul 2012 | Comments Off

Landmark Tower, a prime residential development located at Chin Swee Road on the fringe of the central business district (CBD) has been launched for public tender.

Zoned for residential usage under the 2008 Master Plan, the site measures approximately 60,821 sq ft and has a plot ratio of about 4.014. It will provide the developer an opportunity to design a project with an inner city living concept.

The site offers proximity to Chinatown and Outram Park MRT stations as well as various F&B, lifestyle and family amenities.

In addition, the site enjoys lush green surroundings and 360 degree views of the city skyline.

Landmark Tower has a guide price of around S$280 million to S$288 million, or S$1,315 psf ppr and S$1,355 psf ppr. If the developer chooses to use the 10 percent bonus GFA (gross floor area) for balcony space, the price works out to S$1,252 psf ppr and S$1,286 psf ppr.

Galven Tan, Associate Director for Investment Properties at CBRE, the marketing agent, said: “Landmark Tower possesses ‘one of a kind’ attributes which we believe developers will be keen to evaluate. The concept of inner city living has caught on and gained popularity in recent years, and this fringe CBD location stands out.”

The tender for the site closes on 7 August.

Source : PropertyGuru – 4 Jul 2012

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Posted in En-bloc / Collective Sales

Tagged Collective Sales, En-bloc, Enbloc, Landmark Tower

Kemaman View sold en bloc for S$45.5m

Posted on 19 Jun 2012 | Comments Off

Aylesbury Pte Ltd, a privately held developer, has successfully acquired Kemaman View, a freehold residential development off Balestier Road in a collective sale for S$45.5 million.

Jeffrey Goh, Head of Investment Sales at HSR, which brokered the deal, said: “From the responses that we have received for this site, it is clear that developers’ confidence remains high and intact because of the genuine home buyers’ demand coupled with the low interest rate environment here in Singapore.”

Aylesbury is believed to have paid around S$935 psf ppr for the 17,388 sq ft property. Zoned for residential use under the 2008 Master Plan, the site has a gross plot ratio of 2.8 with a maximum permissible height of 36-storeys subject to approval.

HSR revealed that owners will receive around S$1.517 million each, which is 30 percent above the resale price if the units were sold individually.

Completed in 1995, Kemaman View comprises of 30 apartments at 1,324 sq ft each.

“Our marketing campaign has been extensive with far-reaching results surpassing even our own expectations. This is because land values in the city fringe Balestier area of District 12 are fast catching up to the nearby prime District 11 of Newton and Novena,” noted Goh.

Source : PropertyGuru – 2012 Jun 19