Tag Archives: Margate Road

8M Residences opens for buyer registration

Posted on 20 Jun 2013 | Comments Off on 8M Residences opens for buyer registration

Singapore-based 8M Residences is soon to be launched and is currently inviting potential buyers to register their interest.

Situated on Margate Road in the city’s Meyer area, the freehold residences will spread over 20-storeys and comprise 68 residential units. The development spans more than 24,001 sq ft.

Buyers will have a choice of one bedroom plus study, two bedroom, two bedroom plus study, or three bedroom units that range between 527 sq ft and 1,668 sq ft. The development will boast four penthouses, starting at 1,184 sq ft and go up to 1,841 sq ft, each with a private pool and deck.

The block will boast excellent views as it is on elevated land and the units start at level four. Facilities include lap pool, children’s pool, fun pool, gym and BBQ pit.

A five minutes drive from Orchard Road and Changi Airport, the development is centrally located between three of Singapore’s business hubs – Paya Lebar Commercial Hub, Changi Business Hub and Marina Bay Financial District. It is also near a range of educational establishments such as Haig Girls, Tanjong Katong Primary & Secondary, Chung Cheng High, Kong Hwa Primary, Tao Nan School and Dunman High School.

Source – PropertyReport – 20 Jun 2013

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Two East Coast en bloc sites on market

Posted on 18 Mar 2010 | Comments Off on Two East Coast en bloc sites on market

Two en bloc sale sites have come on the market – Culford Gardens at Siglap, with price expectations of $37-40 million, and two adjacent bungalows in Margate Road, which are expected to fetch more than $30 million.

Culford Gardens: The freehold 44,093 sq ft site has a price tag of $37-40 million or $545-589 per sq ft of potential gross floor area. Based on this price, a developer can expect to break even at about $950-1000 psf

Both sites are freehold.

In the Siglap/Upper East Coast vicinity, Credo Real Estate is handling the collective sale of Culford Gardens, which is on a 44,093 sq ft site. Under Master Plan 2008, the site is zoned for residential development with a 1.4 plot ratio – ratio of maximum potential gross floor area to land area – and a maximum five-storey height.

According to Credo, the total gross floor area allowed is 67, 903 sq ft including the additional 10 per cent balcony allowance. The owners’ $37-40 million price expectation reflects a unit land price of about $545-589 per sq ft of potential gross floor area. No development charge (DC) is payable. Based on this price, a developer can expect to break even at about $950-1000 psf.

Culford Gardens’s tender closes on April 8.

Over in the Katong area, two neighbours are teaming up to sell their bungalows at 6 and 8 Margate Road, which have a combined land area of 24,002 sq ft, through an expression of interest exercise being handled by Cushman & Wakefield.

The property is zoned for high-rise residential development of up to 24 storeys. It has a plot ratio of 2.1, which allows for a maximum gross floor area of 50,404 sq ft. Between 55 to 60 units of an average size of 850 sq ft can be built on the combined plot of land, says Cushman. The property is expected to fetch more than $30 million or $866 per sq ft per plot ratio, including an estimated $13.6 million DC.

This reflects a minimum breakeven cost of about $1,250 psf for a new project. The expression of interest exercise closes on April 20.

Source : Business Times – 18 Mar 2010

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Posted in En-bloc / Collective Sales

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