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Kismis Lodge put up for en bloc sale

Posted on 16 Jul 2012 | Comments Off

Kismis Lodge, which is located off Toh Tuck Road, has been put up for collective sale by Credo Real Estate.

The property currently comprises 64 units of walk-up apartments with a land area of 70,283 square feet.

In a statement issued on Monday, Credo said the owners are expecting offers of around S$90 million to S$95 million.

This translates to about S$1,281 per square foot (psf) to S$1,352 psf.

If the deal goes through, Credo said each owner will pocket S$1.4 million to S$1.48 million.

Under the 2008 Master Plan, the site is zoned for “3-storey mixed landed” development.

Credo said this will allow the developer of the site to build a combination of conventional terrace houses, semi-detached houses and detached houses; or cluster landed housing with strata terrace houses, strata semi-detached houses and strata bungalows with communal facilities.

Yong Choon Fah, executive director of Credo Real Estate, said: “Based on URA’s prevailing guidelines for strata landed developments, the purchaser of Kismis Lodge could possibly build as many as 43 strata terrace houses, or 32 strata semi-detached houses, or alternatively, choose to build a combination of up to 22 conventional and 20 strata terraces, subject to approval.”

Credo said over 80 per cent of the owners have consented to the collective sale.

The tender for Kismis Lodge will close at 2.30pm on Wednesday, 15 August.

Source : Channel NewsAsia – 16 Jul 2012

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Posted in En-bloc / Collective Sales

Tagged Collective Sales, En-bloc, Kismis Lodge

Asia Gardens put up for sale at lower price

Posted on 10 Jul 2012 | Comments Off

Asia Gardens, a freehold 84-unit condo development located within the upcoming Spottiswoode residential cluster has been launched for collective sale.

According to marketing agent Savills Singapore, the development sits on a 72,059 sq ft land parcel and has a gross floor area (GFA) of 201,465 sq ft. With a plot ratio of 2.8, the site is zoned for residential use under the 2008 Master Plan.

The property has an indicative guide price of between S$273.2 million and S$300.3 million, which works out to S$1,354 and S$1,488 psf ppr respectively.

The owners are setting their sights a little lower, compared with the $302.6 million to $307.7 million they wanted in January. No development charge is payable for the site.

“Asia Gardens, with an attractive downtown address and excellent site attributes, will draw interest from developers. It enjoys a wide prominent frontage along Everton Road and is conveniently served by the MRT network and expressways,” said Suzie Mok, Senior Director of Investment Sales at Savills Singapore.

She noted that the site enjoys scenic views of the city skyline, harbour and lush greenery.

“Asia Gardens is probably the last remaining freehold residential plot in the CBD (central business district) precinct. The Spottiswoode enclave has proven to be a much sought after inner-city residential hotspot as evidenced by the good take-up rates for Spottiswoode 18 and Spottiswoode Residences,” added Mok.

The tender for Asia Gardens will close on 31 July.

Source : PropertyGuru – 2012 Jul 10