Tag Archives: Silversea

It’s all in the location for both wine and property

IF there’s one important thing that wine and real estate have in common, it has to be this – location, location, location.

BT’s most recent Wine Night took place on Tuesday at Far East Organization’s residential development, Silversea at Amber Road, in a night that proved both educational and intoxicating, thanks to main partner Far East Organization and wine partner Absolute Wine.

Over the course of the night, Chia Boon Kuah, chief operating officer of Far East Organization, gave guests an enlightening update on Singapore’s residential real estate market while oenologist George Wong – also known by the moniker ‘God of Wine’ within the industry – discussed the way forward for the world of wine.

A selection of four premium French wines were paired with a four-course dinner, beginning with the Thomas Barton Reserve Graves Blanc 2007 from Bordeaux and coming full circle by ending with a dessert wine, Thomas Barton Sauternes 2005, also from Bordeaux.

The second selection, Louis Jadot Volnay 2001, was a wine that could impress a first date without burning a hole in your pocket, Mr Wong quipped.

However, it was the 2004 Chateau Saint Pierre (St Julien) that stood out in his eyes – an ‘under-rated property’ considering that it is ‘rich’, ‘full-bodied’ and ‘value for money’, Mr Wong added.

The night’s lucky draw counted Vito Koh, group general manager of United Industrial Corporation (UIC), Lim Khoon Hong, president (Asia Pacific) of Wincor Nixdorf, as well as Alicia Thian, senior relationship manager with Oversea-Chinese Banking Corporation, among the winners.

Source : Business Times – 24 Sep 2009

The Meyer Place up for collective sale

If the sale goes through, it could net the 28 owners a sale price of $2.2 million to $3.3 million each, depending on the size of their unit. — PHOTO: CUSHMAN & WAKEFIELD

THE Meyer Place condominium off Meyer Road has been put up for collective sale.

Property consultants Cushman & Wakefield, which is marketing the site, said it should fetch at least $65 million. That would give the 28 owners a sale price of $2.2 million to $3.3 million each, depending on the size of their unit.

Based on a maximum allowable plot ratio of 2.1, this price works out to $1,100 per sq ft (psf) per plot ratio.

These prices translate to a premium of about 50 per cent above the value of the units if the owners were to sell them individually on the open market now, said Ms Christina Sim, Cushman & Wakefield’s director, investment, capital markets.

The fairly small 28,167 sq ft freehold site near Katong Park also has a two-storey conservation building that contains four flats that must remain in any development of the land. Continue reading