Braddell View forms en bloc sales committee

Braddell View

Braddell View is a 99-year leasehold development apartment completed in 1981 and has a total of 438 units.

Most residents of Braddell View voted to form a collective sales committee on Tuesday (10 October), with 493 people in favour, while 28 opposed it, reported the Straits Times.

“I think the general feeling is that there is no harm in exploring the possibility. Let’s wait and see what the committee can come up with,” said a homeowner in the 918-unit development.

As such, Braddell View is now among the former HUDC estates that kick-started the en bloc process such as Laguna Park, Pine Grove, Chancery Court and Florence Regency, while Ivory Heights has already been launched for sale.

This follows a recent increase in collective sales, with Normanton Park sold last week in one of Singapore’s largest en bloc deals. The privatised housing project constructed in 1977 for the military and their families was purchased for $830.1 million.

In comparison, the owners of Braddell View hope to get over $2 billion, said Alex Teo, chairman of its Management Corporation Strata Title.

“The site is large, which implies that the quantum will be high. Notwithstanding that, the sale of 488-unit Normanton Park suggests that there are developers with the appetite for larger sites, especially if there is scope to intensify the site,” said Edmund Tie & Company research head Dr Lee Nai Jia.

With an area of 1.124 million sq ft, Braddell View is the biggest former HUDC estate. It has 63 years remaining on its 99-year lease and is close to Caldecott MRT station as well as Bishan and Toa Payoh.

However, ZACD Group executive director Nicholas Mak thinks that the residents could struggle in finding a buyer as such huge sites require more capital. Despite the upturn in the market, developers are also expected to be prudent in their bids given the fixed deadline in selling the units and the existing property curbs.

“Normanton Park’s total quantum is about $1.3 billion, and its land area is about 661,000 sq ft. Braddell View’s quantum is much bigger, and its land area is almost double that of Normanton Park’s,” he said, adding that the owners could have better chance if they divide the site into three parcels which is extremely hard to do.

credits to propertyguru

Georgian-inspired homes launching in Singapore

CHISWICK GATE_VIEW 02-ELEVATED COURTYARD

Artist’s impression of Chiswick Gate and its courtyard gardens. 

Berkeley Homes is launching the final batch of units at its Chiswick Gate development in West London at a private launch event in Singapore on 11 and 12 October.

Marketing agent Knight Frank is arranging one-on-one meetings between the UK developer and prospective buyers by appointment only.

The project is over 75 percent sold, and is due to be completed by the end of the year.

A range of one- and two-bedroom apartments and three- to five-bedroom townhouses are available, with prices from £618,000 (S$1.1 million) for a one-bedroom apartment, and £1.957 million (S$3.5 million) for a three-bedroom townhouse.

The Georgian-inspired homes are surrounded by a lush garden square and courtyard gardens.

Chiswick Gate is within walking distance from the Turnham Green underground station on the District and Piccadilly lines. Several boutique shops, coffee bars and restaurants are also nearby.

“With the appeal of West London, its nearby amenities and the high calibre schools in the vicinity, Chiswick Gate is an attractive development for buyers looking to invest in a high-quality and well-located property,” said Linda Chern, director & head, international project management at Knight Frank Singapore.

credits to propertyguru

New Aljunied MRT Condo TRE Residences

TRE Residences is a new condominium exceptionally located at Geylang East Avenue 1, right next to Aljunied MRT station. This is by far the nearest proximity to the Aljunied MRT station where a condominium is located in the precinct.

TRE Residences Aljunied comprises of 2 towers of 17 storeys housing 250 residential units. The Aljunied condo is strategically located between 2 commercial nodes at Kallang Riverside and Paya Lebar Central where after developed, there will be 500,000 square meters of office, retail and residential space. The official TRE Residences TOP date is at December 2018. However, it is anticipated that it should be ready around mid of 2018 due to the swift construction progress.

Right Entry Price – The TRE Residences price of a 3 bedroom is one of the lowest you can find in the market of new launch condo in Singapore. From only $1,121,000 or $1468 per square foot, it is much lower than nearby condos which similar proximity to an MRT station. For example, the recent launch of Park Place Residences located right beside Paya Lebar MRT station, which saw impressive sales where all of their released units were snapped up on launch day. The prices were sold up to $2,184 psf. This phenomenon is seen due to the lack of supply along the East-West Line of the MRT. Currently, TRE Residences developer is pricing their units at an extremely affordable entry where 4 bedrooms are only starting from $1,249,000, it is definitely a steal as compared to any other similar developments nearby.

Convenience and Amenities – TRE Residences condo is exceptional! Being located at the city fringe is already a privilege, but this is not all that the Aljunied new condo can offer. It is within close proximity to a myriad of shopping malls, markets and food centers serving the residents. Places such as SingPost Center, Paya Lebar Square, OneKM Mall, City Plaza, Tanjong Pagar Complex, Kallang Leisure Park, Kallang Wave Mall and the upcoming Paya Lebar Square.

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Tai Wah Building for sale at $81 million

Tai Wah Building

Built in the 1980s, Tai Wah Building comprises six apartments and two shops. (Photo: Edmund Tie & Company)

The freehold Tai Wah Building at Killiney Road has been launched for collective sale after obtaining consent from all the owners, marketing agent Edmund Tie & Co. said on Monday (9 October).

The asking price for the property is $81 million, or $2,035 psf per plot ratio of potential gross floor area (GFA). No development charge is payable.

Completed in the mid-1980s, the four-storey Tai Wah Building comprises two shops and six apartments.

The approximately 13,148 sq ft site is zoned residential with commercial at first storey under the 2014 Master Plan. It could be redeveloped up to its existing GFA of about 39,809 sq ft, exceeding the permissible plot ratio of 2.8.

The Orchard Road shopping belt and Somerset MRT station are within walking distance.

“Tai Wah Building can be redeveloped into a boutique residential development with valuable commercial space on street level enjoying prominent visibility onto Killiney Road,” said Swee Shou Fern, director of investment and advisory at Edmund Tie & Co.

“The property is also ideal as a serviced apartments development, subject to planning approval.”

The public tender exercise will close on 15 November 2017.

credits: proeprtyguru

Gem Residences condo by Evia @ Toa Payoh Lorong 4 / 6

Gem Residences is poised to be the next condominium under the real estate market spotlight. After a long wait of seven years, HDB finally released a private residential site in the matured Toa Payoh estate. Competitively bided by 14 hopeful developers, the new Toa Payoh condo attracted a top bid of S$345.86 million from Evia Real Estate and Malaysia’s Gamuda Bhd. This works out to be approximately $747 per square foot per plot ratio and a break even of $1250 psf factoring in construction and other miscellaneous costs. Property expert forecast the Gem Residences psf to be in the range of $1450psf to $1550 psf during launch.

Gem Residences Toa Payoh residents has plenty of good schools nearby to choose from. Pei Chun Public School, First Toa Payoh Primary School, Guangyang Primary School, CHIJ Primary School (Toa Payoh), Marymount Convent School, Kuo Chuan Presbyterian, St Gabriel’s Primary School,St Andrew’s Junior School, Catholic High School (Primary), Raffles Institution, First Toa Payoh Secondary School, CHIJ Secondary School (Toa Payoh), Raffles Junior College and St. Andrew’s Junior College. New Condo in Toa Payoh Lorong 4/ Lorong 6 is near to Global Indian International School, SJI International School, Australian International School and Curtin University of Technology are all within close proximity to Gem Residences Singapore.

  • Branded Fittings and Appliances – Gem Residences condo is to be fitted with one of the best furnishings in the market. Kitchen appliances such as the washing machine, cooker hood and hob, refrigerator and the limited edition Victorian styled oven are from renowned Italian high-end appliances manufacturer, SMEG. As for sanitary wares such as overhead showers, bathroom and kitchen mixers are from well known German sanitary fittings manufacturer, Hansgrohe.

Visit the Gem Residences showflat NOW to find our more!

Collective sale fever “sustainable”, says JP Morgan

Amber Park resized

View of Amber Park, a 200-unit development in Amber Gardens. (Photo: JLL)

JP Morgan believes the collective sale frenzy in Singapore is “sustainable” as the number of unsold housing units in the pipeline, excluding executive condos, has dropped for three consecutive quarters to an all-time low of 10,303 units as at Q2 2017, reported the Straits Times.

JP Morgan analyst Brandon Lee noted that developers haven’t also replenished their land banks enough in order to offset the units they are selling.

With 25 deals closed, en bloc sales of residential sites have reached $5.2 billion so far this year, making 2017 the third-biggest year of collective sales after 2007 with $12.2 billion and 2006 with $8.2 billion.

This year’s 25 transactions provides “clear evidence of another en bloc cycle in the making, which traditionally lasts at least three years”, said Lee.

“We expect this to result in immediate displacement demand, improved vacancy and higher selling prices,” he added.

In fact, real estate stocks received a boost from the success of two large collective sales last week.

UOL Group emerged as one of the biggest winners as its shares soared 4.3 percent or 35 cents to $8.55, while City Developments Limited (CDL) shares rose 1.7 percent or 19 cents to $11.60. Wheelock Properties shares, on the other hand, increased 3.9 percent or 7.5 cents to $1.98.

On 4 October, CDL via its Cityzens Development unit and a joint-venture partner from Hong Leong Group acquired Amber Park for $906.7 million, which marked the largest freehold en bloc sale deal, while Kingsford Huray Development acquired Normanton Park the following day for $830.1 million.