Jervois Green sold for $52.9mil, Brookvale Park up for en bloc sale

Jervois Green

Singapore property collective sale market continues to heat up with the sale of  Jervois Green and the launch of Brookvale Park.

A four-storey freehold development at 100A Jervois Road, Jervois Green has been sold for $52.9 million to investors led by Mike Ho, third-generation owner of Spring Court, one of the oldest Chinese restaurants in Singapore.

The sale price – which was 10 percent higher than the $48 million asking price of the owner – translates to a land rate of $1,601 psf per plot ratio (ppr) inclusive of a development charge of around $6.95 million, noted Colliers International, which brokered the deal.

With a site area of around 26,700 sq ft, Jervois Green comprises eight apartments and was held under single-ownership. As such, the sale is not subject to the approval of the Strata Titles Board/High Court.

The site is zoned for residential use under the 2014 Master Plan with a plot ratio of 1.4. Not subject to the Pre-Application Feasibility Study, it can be redeveloped into a five-storey development comprising 42 units of around 850 sq ft each, subject to approval by the relevant authorities, said Colliers.

“The future selling price for the new development is envisaged to be above $2,500 psf or from $2.1 million per unit,” it added.

Closing on 5 December, the tender for Jervois Green “drew strong interest with six bids received from a wide spectrum of investors and developers”, said Tang Wei Leng, managing director at Colliers International.

“The tight bids not only reflect the market consensus on the pricing in the locale, but also signal the positive sentiment among bidders on the back of a comeback in the residential property market.”

Meanwhile, Brookvale Park in the Sunset Way estate, off Clementi, has been put up for en bloc sale, with a minimum price of S$530 million, said marketing agent JLL.

Comprising 160 units, Brookvale Park was built in the early 1980’s on a 999-year leasehold site.

JLL said the 373,008 sq ft site may be “redeveloped into a residential development of up to 12 storeys, with a total gross floor area of about 656,494 sq ft, including a 10 percent bonus balcony area”. The new development could yield 550 units with an average size of 1,100 sq ft.

Inclusive of an estimated development charge of around $26 million, the minimum price works out to a land cost of $932 psf ppr, with the breakeven price at around $1,480 to $1,500 psf.

“This compares favourably with recent land sales in the vicinity, such as Royalville at $1,960 psf ppr, Mayfair Gardens at $1,244 psf ppr and the Government Land Sales sites at $939 and $1,540 psf ppr for Toh Tuck Road and Fourth Avenue respectively,” added JLL.

The tender for Brookvale Park will close on 25 January 2018.

credits to propertyguru

5 family-friendly condominiums

5 family-friendly condominiums

Grandeur Park

So, you’re ready to start a family and upgrade to a condominium. While a BTO flat is more suitable for families since they’re bigger and more affordable, condominiums make up for their lack of space (comparatively) by having a multitude of facilities built within the development. A far cry from a neighbourhood playground, we’re in a time where childcare centres, kids’ pools, children play & exercise corners and exclusive classes for the young are as much selling points as location and price.

But what makes a condo family-friendly? Facilities are all fun and good but if a project doesn’t do anything different other than include a pool and gym for the children, how is it distinguishable from the horde of clones out there?

Fortunately, we’ve got some idea.

If you’re looking for a condo to put down roots in, where some family-friendliness exist, here’s five suggestions, in no particular order:

Grandeur Park

How many projects are there in Singapore that offer not just the typical kids’ pool and gym but also guitar and violin classes in-house? That number can be counted on one hand, maybe even half a hand. Managed by Mandeville Conservatory of Music, Grandeur Park knocks the ball out of the park by including extra-curricular activities for the whole family.

The development being a minute walk from Tanah Merah MRT station (and bus stop) is another tick in the right place. When you live in the east, it’s to live in an extremely well-connected area.

Artra

This is one of those must-have projects if you’re not already mortgaged to your ears. A rare execution of class, style and substance, Artra offers big, spacious units with unique layouts. At a glance, it’s suitability for accommodating large gatherings at home is immediately apparent. And when kids are thrown in the mix, there’s plenty lot of room for them to run and play in.

Artra

3BR living and dining

On top of that, there’s a childcare centre and several retail shops in Artra. That it’s also a minute’s walk from Redhill MRT station makes it even harder to ignore. A true gem amidst a sea of sameness, Artra is a fantastic option if family-friendliness is high on your list of wants when choosing to live in Redhill.

Sims Urban Oasis

Not all family-friendly condos need to have crazy facilities. Sometimes, it’s as simple as a childcare centre, which Sims Urban Oasis has. Other times, it’s walking distance to schools, which Sims Urban Oasis is. Let’s face it, buying a condo for a kids’ pool is great only if you’re playing The Sims and have entered a cheat code to keep your kids from growing up.

In real life, they will grow up and migrate from kids’ pool to regular pool. Distance to schools is a far better requirement of kid-friendliness. And in this regard, with the James Cook University within walking distance, Aljunied MRT station also close-by and the upcoming gentrification of the Kallang area, there’s much to enjoy here for the long term.

Kallang Riverside

The coolest thing about Kallang Riverside has little to do with its facilities and everything to do with the utter uniqueness of its design and implementation into the land. As a fenceless type of development of which there is only one tower, Kallang Riverside will be surrounded by a swath of green and the Kallang river. The image is of a large communal garden open to everyone since it’s not gated.

Families can exit the development and walk out to picnic under a tree, or cycle around. Verdant greenery lasts far longer than facilities. Furthermore, they’ll always be relevant, even when your kids grow up. The riverside is one to watch because it looks primed to introduce something visually arresting and special to Singapore.

High Park Residences

Rounding up our list is High Park Residences. It’s no small feat to end on a high note but this is one of the handful of projects that take family-friendliness to another level. For the first two years, the management is offering fitness classes (aerobics, yoga, kickboxing, Pilates), cooking lessons (baking, cuisine, aqua-related lessons (swimming, aqua aerobics), tennis lessons for both adults & children and violin lessons for kids.

It’s also across the road from Thanggam LRT station, one stop away from Seletar Mall and about a five-minute walk to Jalan Kayu and its eateries. To top it off, there are some shops to be available at High Park. Therefore, High Park’s extensive suite of family-friendly facilities and services makes it a perfect bookend to this article and probably why it was voted best condo development at the 2017 PropertyGuru Awards for its practicality and family-friendliness.

Source: Developer brochure

Source: Developer brochure (High Park)

Choosing the appropriate home for you and your own family is a decision only you can make based on your lifestyle. Some people prefer condos with plenty of features and facilities while for others, it’s irrelevant how large the pool is; they’re only in it because of convenience or they have a bit more buying power.

Ultimately though, purchasing a condo for family-friendly facilities is to think short-term. Not a whole lot of people are committed to utilising the facilities consistently a few months or even a year after they’ve moved in and the novelty has settled. Look for projects with more holistic features, such as High Park and Grandeur Park’s classes. Having access to yoga, aerobics and even music lessons are timeless attributes compared to things like a kid’s pool.

credits to propertyguru

CapitaLand builds residential project in Vietnam

d'Edge Thao Dien

Strategically located in the heart of Thao Dien, d’Edge is at the epicentre of an ultimate metropolitan lifestyle befitting a global standard. (Photo: CapitaLand)

Singapore-listed CapitaLand has invested $53.5 million to acquire a 1.45ha site in Ho Chi Minh City, Vietnam, where it intends to build an 870-unit residential project with a gross development value (GDV) of US$177 million (approx. S$247 million).

The property developer announced on Thursday (16 November) that the unnamed development in District 4 marks its ninth housing project in the capital and 11th in the country.

“For the first time in Vietnam, we plan to introduce dual-key apartments to cater to the young and vibrant rental market in District 4 and to attract potential investors,” said Chen Lian Pang, CEO of CapitaLand Vietnam.

In particular, the newest development consists of three 24-storey towers — one triple block and two single blocks — with retail units on the lower levels. On average, the apartments will measure about 79 sq m.

The company embarked on its latest acquisition after recording robust property sales in the country so far this year. As of 30 September, its sales soared to $412.9 million, exceeding the $282.1 million for the whole of 2016.

“2017 marks a record year of growth for CapitaLand in Vietnam with the highest home sales value achieved in nine months, surpassing that of FY2016 by close to 50 percent,” noted Chen.

Moreover, d’Edge Thao Dien project in Ho Chi Minh City sold nearly all of its 273 units in less than two months after its launch last July.

“This is a testament of customer confidence in the CapitaLand brand and underscores the strong demand for quality projects in Vietnam. With our latest development in a prime location, we are optimistic that it will similarly be well-received.”

Aside from being a five-minute drive from Districts 1 and 7, residents in the latest project will enjoy breath-taking views of Saigon River and the city skyline.

With the newest acquisition, CapitaLand now has 11 housing projects, 21 serviced residences totalling 4,700 units and one Grade A office development across six cities in Vietnam.

Furthermore, the country represents its third largest market after Singapore and Malaysia, with $2 billion gross assets under management there as of 30 September 2017.

credits to propertyguru

Royalville’s tender closing date extended to 30 Nov

Royalville

Royalville is a freehold apartment development completed in 1988 which comprises of 93 units. (Photo: Edmund Tie & Company)

The tender closing date for Royalville at Bukit Timah Road will be extended from 10 November to 30 November, revealed its marketing agent Edmund Tie & Company.

Nestled on a 16,181.5 sq m (174,176 sq ft) site, Royalville has a gross plot ratio of 1.4 and was zoned for residential use under Master Plan 2014.

The development enjoys excellent accessibility and connectivity as it is located near Sixth Avenue MRT Station as well as various lifestyle destinations like Holland Village, The Grand Stand, the Singapore Botanic Gardens and Dempsey Hill. Nearby schools include Methodist Girls’ School (Primary), Raffles Girls’ Primary School, Nanyang Primary School, Henry Park Primary School, National Junior College and Hwa Chong Institution.

Well served by expressways and major roads such as Pan Island Expressway (PIE), Bukit Timah Expressway (BKE), Bukit Timah Road, Sixth Avenue, Dunearn Road, Eng Neo Avenue and Holland Road, the site also enjoys excellent connectivity to the central business district and the Orchard Road shopping belt.

The site has been launched for collective sale by owners for $368 million, which works out to a land rate of $1,509 psf per plot ratio (psf ppr), with no development charge payable.

“Inclusive of additional 10 percent bonus balcony area and development charge of approximately $1.16 million, the land rate works out to $1,376 psf ppr,” said Edmund Tie & Company.

credits to propertyguru

Lorong Kismis Freehold Land Homes

Kismis Residences Lorong Kismis is built to present a modern contemporary architectural design with sophisticated touch & interesting façade expression. All units has a huge built up featuring a basement entertainment room, 3 stories and a attic. Corner terraces are sitting on a 2150 sq ft / 200 sqm plot of land with built up of 5050 sq ft to 5400 sq ft while the intermediate terraces has a land size 1600 sq ft / 150 sqm with built up of 4700 sq ft to 5200 sq ft. Every unit of Kismis Residences comprise of a home lift that has access to all levels including basement and attic to bring convenience to the next level. They are also fully equipped with high quality European kitchen appliances and wardrobes from the likes of Bosch, Duravit, Hansgrohe and Pianca.

Kismis Residences price will start from only $4,155,240 for an intermediate corner terrace with a 1657 sq f of land size and 5,231 sq ft of built up space. As all units are already built up as livable and brand new, buyers will be able to save a lot of time on rebuilding, architect meetings and the stress to go through during construction. With all units fully fitted, the Kismis Residences new freehold landed psf of less than $800 on the built up area is extremely worthwhile!

Abundance of convenience – Kismis Residences review has it that there are an abundance of convenience and amenities surrounding such as Jem Shopping Mall, Westgate Shopping Mall, JCube Shopping Center, Big Box and IMM @ Jurong East Central, Cheong Chin Nam Road where all the famous local delicacies are, HillV2 Mall at Hillview where upmarket stores like Starbucks Wine Connection, Dean & Deluca, Starker Bistro and MarketPlace is operating.

Within 1 km radius, There are 3 shopping malls namely Beauty World center, Beauty World Plaza, and Bukit Timah Shopping Center where plenty of specialty stores, supermarket, Hawker centers are located.

Go make an appointment to view the Kismis Residences showflat NOW!

Kampung Admiralty gets highest accolade for landscape architecture

Kampung Admiralty

Featuring a “vertical kampung” design, Kampung Admiralty complex is poised to receive an award for outstanding landscape architecture today, reported The Straits Times.

The 11-storey hub, which integrates residential units with shops, eldercare and childcare centres and medical facilities, also boasts of a combined rooftop community park, rainwater catchment area and edible garden.

The building will receive this year’s Outstanding Award, which is the highest accolade, at the Skyrise Greenery Awards.

Now in its seventh edition, the awards were launched in 2008 by the National Parks Board (NParks) to recognise excellence in landscape architecture within the city-state.

Thirteen other developments are also set to receive Excellence Awards for their excellence in skyrise greenery designs or Special Awards for certain merits like an edible rooftop garden.

Submissions were evaluated based on building types: community facilities, educational institutions, commercial or industrial, small-scale residentials and multi-unit residentials.

Prizes include certificates, plaques and trophies for all the winning developers. However, the Outstanding, Excellence and Special Awards winners will also receive S$8,000, S$1,500 and S$500, respectively.

NParks revealed that their work with various agencies to take on innovative approach towards Singapore’s land scarcity and rapid urban development by building greenery within urban landscapes had set the stage for the biennial awards’ creation.

This year’s awards saw a record submission of 177, up 40 percent from 2015.

The Skyrise Greenery Awards form part of the International Skyrise Greenery Conference, which runs until tomorrow, in conjunction with this year’s international GreenUrbanScape Asia (Gusa) conference.

Held until Sunday at the Singapore Expo, Gusa features exhibitions on the latest greenery projects, urban methods and technology.

credits to propertyguru

Government urges private home owners with short remaining leases to plan ahead

Residential District in Singapore

The government encourages Singaporeans residing in properties with short remaining leases to plan ahead and look for alternative housing early, said the Ministry of National Development in a written answer to Parliament on Monday.

It noted that seniors have various housing options, including short-lease 2-room flexi flats which has no debarment period for purchase.

“Residents can approach agencies for assistance if they need help transitioning to their next housing arrangement,” it added.

The statement was made in reply to the question of Cheryl Chan Wei Ling, MP for Fengshan SMC, who also asked on what measures are taken by the government to ensure that the neighbourhood of private housing estates will not be disproportionately populated by foreign workers or short-term rentals.

To minimise disturbance to neighbours and safeguard the residential environment of private housing estates, private homeowners are allowed to rent out their properties for a minimum period of three months, with each housing unit having a maximum of six unrelated occupants only, said the ministry.

“URA will proactively enforce against subletting arrangements that flout the rules, including prosecuting egregious offenders in court.”

credits to propertyguru

Northwave EC in Woodlands by MCC Land

Northwave EC drop-off
Northwave EC drop-off

The Northwave EC is surrounded by plenty of amenities too. It is within close proximity to the upcoming Kampung Admiralty that will feature a community park, community farm, medical center, hawker center, community plaza and shops for convenience to the residents living nearby. All these will be in addition to what is already existing.

As Woodlands is considered a rather matured estate, Northwave EC Woodlands dwellers can easily access to wet market, Guardian Pharmacy, 7-11, clinics, Giant Express, pastry shops and fast food joints such as KFC and MacDonald’s in Admiralty Place. The mini shopping mall also has an air-conditioned Foodfare food court on level 2 and a wet market behind it to serve residents.

One of the exceptional attribute will be Northwave EC review worthy of a mention. Woodlands will be the next Regional center in Singapore after Tampines and Jurong East. Evident from the success of previous 2 URA major developments, we can see similar infrastructures are being planned to be replicated in Woodlands which include a hospital, offices, mixed developments and transport systems. Also taking reference from previous regional centres, there is an obvious appreciation of property value in the regions. Hence, it is expected that Northwave EC price will be follow suit in future, benefitting the privileged buyers.

  • Rare Opportunity – Executive Condominiums are unique to Singapore. Only the privilege handful of Singaporeans are able to attain if the eligibility conditions are fulfilled. Contact us NOW to check your eligibility and visit our Northwave EC showflat today!

OUE revenue down 56.6% in Q3 2017

OUE revenue down 56.6% in Q3 2017

Oakwood Premier OUE Singapore is a 268-unit luxury serviced apartment, located in the heart of Singapore.

Mainboard-listed OUE Limited saw its revenue for the third quarter of 2017 drop 56.6 percent to $182 million, due to the absence of $205.0 million non-recurring revenue registered on the sale of the extension to Crowne Plaza Changi Airport (CPEX) and lower contribution from the development property division.

The decrease, however, was partially mitigated by higher contribution from its hospitality and healthcare divisions.

In an SGX filing, the company revealed that revenue from its investment properties division and hospitality division increased to $67 million and $58.6 million, respectively, while revenue from OUE Twin Peaks fell to $38.5 million due to fewer sales completed during the period.

Nonetheless, OUE Twin Peaks was fully sold as at October 2017, thanks to the group’s active marketing effort.

Revenue from its healthcare division stood at $11.3 million.

Earnings before interest and tax (EBIT) fell 58.3 percent to $49.4 million, mainly due to the absence of $66.7 million non-recurring gain on disposal of CPEX posted in Q3 2016.

With this, attributable profit plunged 90 percent to $10.7 million from $107.6 million previously.

Looking ahead, OUE executive chairman Dr Stephen Riady expects the commencement of operations at Downtown Gallery as well as Oakwood Premier OUE Singapore to further increase the group’s “recurring income base and enhance shareholder value, which has always been our focus”.

“We remain committed to delivering stable earnings by identifying new opportunities and exploring potential to unlock synergistic gains,” he added.

credits to propertyguru

New condo by MCC Land @ Dundee Road beside Queenstown MRT

Queens Peak will be the blockbuster launch of the year in the city fringe precinct, Queenstown. The development will feature 2 stunning towers of 44 storeys tall on a land size of 10,516.10 square meters comprising of 736 residential units, 1 childcare and 1 shop unit. Sitting right beside Queenstown MRT and surrounded by a myriad of amenities, it will be the perfect home for dwellers in search for utmost convenience.

The land site of Queens Peak Queenstown was won by HY Realty, which shares the same shareholders as Chinese developer Hao Yuan Investment. They emerged victorious among other 8 eight hopeful bidders such as Allgreen Properties and City Developments(CDL) with the top bid of S$483.18 million. Working out to be S$871.14 per square foot per plot ratio (psf ppr) for the 99-year lease site, it is estimated that Queens Peak price may be between $1550 to $1600 psf factoring in all other cost.

  • Convenience and Amenities – There are a myriad of amenities surrounding Queens Peak condo. Places such as the Alexandra Retail Center(ARC), Ikea, Anchorpoint Shopping Center, Queensway Shopping Center, Alexandra Central Mall, Tiong Bahru Plaza, Dawson Place Mall and Vally Point Shopping Center are within a 5 minutes walking or driving distance. Just slightly further away, dwellers can easily get to places of interest such as Dempsey Hill, Ngee Ann Polytechnic, SIM University, National University of Singapore, Hort Park, Mapletree Business City, Mount Faber Park, Tiong Bahru Market,, Kuala Lumpur-Singapore High Speed Rail, Jurong Regional Centre & International Business Park and Holland Village.

Head on down to the Queens Peak showflat to have a look now!