Tag Archives: Kismis Lodge

Freehold residential site up for en bloc sale

A residential site at Tampines Road is up for collective sale with an indicative selling price of S$132 million to S$135 million, according to marketing agent ERA Realty Network.

The freehold  Yi Mei Garden comprises a land area of 78,030.38 sq ft and gross plot ratio of 2.1, with a selling price of about S$805 to S$810 psf per plot ratio (ppr), The Business Times reported.

Completed in 1984, the property currently houses 44 apartments and four penthouses. It could be redeveloped into two towers with a total gross floor area (GFA) of 163,863.79 sq ft.

Meanwhile, the residential collective sales market has shown signs of recovery in the last few months, with at least three properties sold in 2013. For instance, Kismis Lodge which features a pair of freehold walk-up apartments near Toh Tuck Road was sold for S$84.18 million or S$1,198 psf in March.

The sale of Ultra Mansion near Novena MRT station went for S$149.13 million or S$1,170 psf on its potential GFA.

Another deal that closed recently was The Versailles, a 55-unit freehold condominium along Guillemard Road, priced from S$105 million to S$110 million, or S$1,088 to S$1,133 psf ppr.

Source – PropGuru – 8 May 2013

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Chancery Garden and Kimis Lodge up for collective sale

Chancery Garden, a prime freehold mixed landed development at District 11 has been put up for collective sale by tender.

Located near Orchard Road, Chancery Garden offers a site area of 29,468 sq ft and could house six strata semi-detached plus 10 strata terraces, 18 strata terraces or any other configuration subject to approval.

The property’s owners expect a minimum price of S$45 million and it is likely to attract interest from medium-sized developers and high-net-worth individuals.

“We see continued strong interests for strata landed development sites in prime districts 10 and 11. Within the Whitley locality, the latest transaction of 121C Whitley Road was 16 percent higher than Whitley Heights transacted merely nine months ago in September 2011,” said Alex Oh, Assistant Director at OrangeTee Investments, which is marketing Chancery Garden.

The tender for the site will close on 23 August.

Separately, Credo Real Estate has launched the collective sale of Kismis Lodge, located off Toh Tuck Road.

Comprising 64 walk-up apartments, the site has a land area of 70,283 sq ft. Credo revealed that the owners expect offers of around S$90 million to S$95 million or S$1,281 to S$1,352 psf.

It is zoned for a “three-storey mixed landed” development under the 2008 Master Plan.

“Based on URA’s (Urban Redevelopment Authority) 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,” said Yong Choon Fah, Executive Director of Credo Real Estate.

The site tender will close on 15 August.

Source PropertyGuru – 2012 Jul 17