Tag Archives: Enbloc

Kemaman View sold en bloc for S$45.5m

Posted on 19 Jun 2012 | Comments Off on Kemaman View sold en bloc for S$45.5m

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

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Villa Des Flores goes en bloc

Posted on 9 Jun 2012 | Comments Off on Villa Des Flores goes en bloc

Villa Des Flores , a large redevelopment site at Whitley Road in District 11, has been put up for sale at an indicative price of between S$160 million and S$165 million.

This works out to around S$1,533 psf to S$1,581 psf, with no development charge payable.

Marketing agent DTZ said the site is zoned for landed housing and is just a stone’s throw away from Orchard Road and several reputable schools. It is sited on a land area of approximately 104,370 sq ft and comprises of 13 townhouses ranging from 2,034 sq ft to 2,702 sq ft and 28 four-storey walk-up apartments of between 1,378 sq ft and 2,088 sq ft.

“Large sites for landed housing developments, especially in prime District 11, are rarely available for sale in contrast to apartment development sites,” said Shaun Poh, Head of Investment Advisory Services & Auction at DTZ.

Under the 2008 Master Plan, Villa Des Flores can be redeveloped into a two-storey mixed landed development. The winning developer has the option to build terrace, detached or semi-detached properties or a combination of these, either based on conventional housing types or as a cluster housing development.

As a cluster project, the site could yield around 64 strata terraces, 48 strata semi-detached homes or 24 strata bungalows.

“Prices of landed properties continue to trend up due to extremely strong demand. We therefore envisage keen interest in the property from developers,” said Poh.

Poh noted that each owner could receive between S$3.2 million and S$5.1 million if the sale is successful.

The tender for the property will close on 6 July 2012.

Source : PropertyGuru – 2012 Jun 7

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