Tag Archives: Land Sales

2 GCBs at Queen Astrid Park to be auctioned

Posted on 27 Aug 2009 | Comments Off

Two good class bungalows (GCBs) at Queen Astrid Park will be auctioned together by TM Asia Life Singapore as part of its plan to dispose of non-core assets.

‘We are seeking offers in excess of $36 million, which works out to $890 per sq ft of the land area,’ said Irinn Lee, auctioneer and director at Credo Real Estate, which will conduct the auction.

‘Going by recent sales of GCBs and the condition of the houses, which overlook lower-lying bungalows, we believe they may even be knocked down at auction well above $36 million.’

The bungalows – numbers 29 and 29A Queen Astrid Park – sit on a sprawling 40,453 sq ft site.

They are for sale to one buyer as the land is yet to be sub-divided into two titles. Continue reading →

Comments Off on 2 GCBs at Queen Astrid Park to be auctioned

Posted in Landed Property, Property Market / Real Estate

Tagged Good Class Bungalows (GCB), Land Sales, Landed Property, Queen Astrid Park, Singapore Property, Singapore Property Market

Leng Beng lays down marker with Chestnut bid

Posted on 26 Aug 2009 | Comments Off

Toppish price may send inadvertent signal to restart confirmed list sales

EVEN as the dust settles on Hong Leong Group’s top bid at last week’s tender for a 99-year condo site at Chestnut Avenue, a discussion in some circles now centres on whether Hong Leong overpaid for the site.

As expected, Housing & Development Board said yesterday evening it has awarded the site to Sunny Vista Developments (a subsidiary of City Developments) and Hong Realty.

The two companies are part of the Hong Leong Group and teamed up to place the top bid of $143.68 million, which works out to a much-higher-than-expected land cost of $280 psf per plot ratio (psf ppr).

Some rival developers believe Hong Leong’s breakeven cost may be around the $600 psf mark and its projected average selling price near the $700 Continue reading →