Bishan tender draws 19 bids

[sleek]

HDB launching residential site at Bishan for sale under Reserve List System
By Julie Quek | Posted: 07 January 2011 2104 hrs

SINGAPORE : The Housing and Development Board (HDB) is launching a residential site for sale by public tender under the Reserve List System.

The site is located at Bishan Street 14 and is slated for development as Condominium Housing.

The area is around 12,000 square metres in size, with a maximum gross floor area of some 58,000 square metres.

It has a lease term of 99 years and would be able to accommodate 590 units.HDB quoted the minimum offer price at S$189,831,390.

Under the Reserve List System, the government will put up a Reserve List site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of 3 per cent of the bid price, capped at S$5 million, to bid for the site at or above the minimum offer price which is acceptable to the government.

HDB will launch the tender for the land parcel in about two weeks' time.

- CNA/ms

[kingkong1984]

That's $300 psf. Break even should be $800 psf on average. If successful land bid more and developer want more, prices should be higher.

My take on successful bid is $350 to $400 psf.
My guess on launch price $1200 psf to $1500 psf.

I am aware that I can be grossly wrong. Just having some fun making a wild bet. Anyone want to join in the fun and make a guess?

My take on successful bid is $.....
My guess on launch price is $... to $....

[hyenergix]

There isn't any major condo launch in Bishan since Clover 3-4 years back, this will be a hotly contested site. If Centro Residences can be priced around $1300 psf now, this one should be launched at least $1300 psf since Bishan is better located than Ang Mo Kio.

My guess is it will be a project that sells well since the Bishan HDB upgraders can sell off their expensive HDBs to fund the purchase or rent them out to off-set their instalments.

[bargain hunter]

it depends on whether the winner is Far East or not.

If far east,

My take on successful bid is $703
My guess on launch price is $1400 to $1600 (1600 for studio)

If not far east,

My take on successful bid is $668
My guess on launch price is $1300 to $1500

and i still think i m underestimating the potential.

That's $300 psf. Break even should be $800 psf on average. If successful land bid more and developer want more, prices should be higher.

My take on successful bid is $350 to $400 psf.
My guess on launch price $1200 psf to $1500 psf.

I am aware that I can be grossly wrong. Just having some fun making a wild bet. Anyone want to join in the fun and make a guess?

My take on successful bid is $.....
My guess on launch price is $... to $....

[kane]

That's $300 psf. Break even should be $800 psf on average. If successful land bid more and developer want more, prices should be higher.

My take on successful bid is $350 to $400 psf.
My guess on launch price $1200 psf to $1500 psf.

I am aware that I can be grossly wrong. Just having some fun making a wild bet. Anyone want to join in the fun and make a guess?

My take on successful bid is $.....
My guess on launch price is $... to $....

if the government is expecting the sale price to be 1200psf, selling it at $400 will be like giving free money to the developer.

[devilplate]

That's $300 psf. Break even should be $800 psf on average. If successful land bid more and developer want more, prices should be higher.

My take on successful bid is $350 to $400 psf.
My guess on launch price $1200 psf to $1500 psf.

I am aware that I can be grossly wrong. Just having some fun making a wild bet. Anyone want to join in the fun and make a guess?

My take on successful bid is $.....
My guess on launch price is $... to $....

have u checked the site location? it is very near to bishan mrt and to me its a plus point to face ITE den HDBs...lol

sucessful bid only 350-400psf? tats punggol pricing liao

at least 600-650psf and i guess more den 8bids

[kingkong1984]

Excellent mass market location to me. I was being conservative but others have bullish bids. Nice to even game on number of bidders. This is a fun way of discussing condo prices.

[Lovelle]

Buy bishan ! 1300psf or above huat

[amk]

Finally. This site had been on reserve list since 2007, right after FEO bought the centro plot for 480. This one, my guess is at least 700, and sell at 1500.

This plot is next to a mature shopping center, above a MRT interchange, (and MRT is underground not like Centro). Plus 1km to Catholic High.

Bishan has 900k HDB right ?

[august]

the bus interchange is quite near though...


still, no sell $1xxx psf no talk LOL

[rattydrama]

have u checked the site location? it is very near to bishan mrt and to me its a plus point to face ITE den HDBs...lol

sucessful bid only 350-400psf? tats punggol pricing liao

at least 600-650psf and i guess more den 8bids

No mm here rite? So could be higher 700psf?

[kane]

I'm going to guess that the land will go for about 550-600psf.

[maisonjai]

join in the fun. Land=650~680, selling avg 1250 (mm may hit 1400psf<)

[Lovelle]

There is a good 200 - 300m walk to mrt stn .according to st the plot is bigenuf for a few dev so whoever bidder this land stand a chance to monopolize the entire land. Kepland maybe interested like lakefront

[kane]

If far east gets the land, selling price 1300 psf, if cheung kong gets the land, 1400psf. All others should be below that.

[HANROSE]

My take on land price is $635 psf
My take on ave launch price is $1250 psf

[Komo]

Excellent connectivity by highways to all over Singapore plus 2 mrt, good amentities at doorstep, good schools nearby, no other project can come close. Will attract many bidders and surely set new highs in all prices.

[rattydrama]

my view is Bishan will always be Bishan, I good gauge will be the re-sale flat of HDB in Bishan topped the rest of the estate even if this is not CCR.

And we are not talking selling at record price. AMK FEO project sells well 1100psf rite? So Bishan will sell better. Lakefront 1200psf with nothing only MRT and story....

Bishan no story to tell as it is all there and 1200psf should not be a record price.. so 1500psf may have takers wor..... MM units.....

my take will be same as bargain hunter.

[Lovelle]

My take on land price is $635 psf
My take on ave launch price is $1250 psf

Size of 11,XXX sqft most likely high rise block if developer wanna squeeze many units.

i think max 350 units ...

[rattydrama]

Size of 11,XXX sqft most likely high rise block if developer wanna squeeze many units.

i think max 350 units ...

papers quoted 590 units @1000 sq ft each.

[kingkong1984]

100 sqf can be 1, 2 and 3 bedders. It's up to developer to mix. Paper talk only. Not real. The final winner decide and should have 4 bedders lah.

[bargain hunter]

thanks for support. i think FEO will win and spoil the market though.

my view is Bishan will always be Bishan, I good gauge will be the re-sale flat of HDB in Bishan topped the rest of the estate even if this is not CCR.

And we are not talking selling at record price. AMK FEO project sells well 1100psf rite? So Bishan will sell better. Lakefront 1200psf with nothing only MRT and story....

Bishan no story to tell as it is all there and 1200psf should not be a record price.. so 1500psf may have takers wor..... MM units.....

my take will be same as bargain hunter.

[2824]

Think bishan 8 folks will keep their fingers cross that FEO win because their payback is about 10 years over due. This could be just the lift that their prices need

thanks for support. i think FEO will win and spoil the market though.

[rattydrama]

100 sqf can be 1, 2 and 3 bedders. It's up to developer to mix. Paper talk only. Not real. The final winner decide and should have 4 bedders lah.

that is correct. my reply is in context of max 350 units quoted by lovelle which means on average 1685 sq ft per unit. Where got such big size these days?

If all MM units, I can have 1180 units each at 500sq ft wor.

[rattydrama]

Think bishan 8 folks will keep their fingers cross that FEO win because their payback is about 10 years over due. This could be just the lift that their prices need

another propertism. ppty price will always goes up. u must have holding power.

u buy high and the break even time will take much longer. Anyway this could be a good lift cos I like the connectivity even thou I dont stay there (I like to be there!). It is just that over the last decade, the price is way above market price and some just wont touch it.

[Wild Falcon]

You mean CTE? It's the worst way to get to work. Unless one takes MRT, drivers should think twice. Having said that, Bishan is quite an anamoly known to have expensive HDBs but cheap private properties. So maybe the new bid may unjinx the cheap private property stigma.

Excellent connectivity by highways to all over Singapore plus 2 mrt, good amentities at doorstep, good schools nearby, no other project can come close. Will attract many bidders and surely set new highs in all prices.

[rattydrama]

could be another hidden gems. hehe

[mr funny]

http://www.businesstimes.com.sg/sub/...16740,00.html?

Published January 8, 2011

Bishan residential site up for tender

By EMILYN YAP


THE Housing & Development Board will be launching a 99-year leasehold residential site at Bishan Street 14 for tender in about two weeks' time.

Consultants expect to see as many as eight bidders for the plot, which is located near Bishan MRT station.

The 1.2 ha site on the reserve list, with a maximum gross floor area of 632,764 square feet, can yield an estimated 590 condominium units.

An unnamed developer triggered the sale when it committed to pay at least $189.8 million or $300 per square foot per plot ratio (psf ppr).

The plot is within walking distance of Bishan MRT station and Junction 8 shopping mall. It is also near several education institutions - ITE College Central (Bishan) is next door while Raffles Institution is a few streets away. A few other parcels of state land surround the site.

Cushman & Wakefield senior manager of Asia-Pacific research Ong Kah Seng believes that the top bid might come in at $450-480 psf ppr, which could translate to selling prices of $920-950 psf.

According to caveats lodged with the authorities, units at Bishan 8 nearby went for $852-955 between August and October last year.

There is likely to be moderate demand from developers because of the site's location, Mr Ong said. The winning developer will get a headstart in offering condominiums in that area, and could potentially acquire the surrounding plots when the government includes them in the land sales programme, he added.

SLP International Property Consultants' research executive director Nicholas Mak expects some of the higher bids to reach $460-530 psf ppr.

Although many residential sites on the confirmed list will be rolled out for sale in the first half of this year, this plot at Bishan remains attractive because of its location, he said.

Besides, mass-market homes should continue to enjoy demand even if price growth may be limited this year, he added.

[mr funny]

http://www.straitstimes.com/Money/St...ry_621816.html

Jan 8, 2011

Bishan condo site expected to draw strong bids

99-year plot is near MRT, schools and lifestyle amenities

By Gabriel Chen



AN ATTRACTIVE condominium site within walking distance of Bishan MRT station is being offered for sale, with the prized location set to attract strong bids.

'It's going to be hot and it's down to the location,' Credo Real Estate executive director Tan Hong Boon predicted.

About 590 units of a private condo can be built on the 99-year leasehold plot, which is also near ITE College Central (Bishan) and Bishan Stadium. The area of the site is 11,997 sq m.

Property experts said the tender for the parcel, to be launched in about two weeks' time, is expected to draw keen interest from developers.

Mr Tan said that apart from its proximity to the MRT station, the site is centrally located in Bishan, near good schools and supporting lifestyle amenities.

The plot was available for application for purchase under the Reserve List of the Government's land sales programme.

Under the list, an interested developer can submit an application for a site with a minimum offer price.

If the price is deemed accept-able, the Government will then put the site up for sale by tender.

In this instance, the minimum offer price was $189.93 million, the Housing Board, the agency selling the land, said yesterday.

Mr Ong Kah Seng, senior manager of Asia-Pacific research at Cushman & Wakefield, expects about eight bids for the condo site, with the top bid between $450 and $480 per sq ft (psf) per plot ratio.

The selling price of condo units would range from $920 to $950 psf, he said.

Mr Ong suggested that securing this site could prove a strategic move for developers, given that there are neighbouring sites which have been flagged as reserve sites for future high-rise developments.

He explained that with an adjacent site and a few neighbouring ones slated for future high-rise homes, the developer that secures this site will have a head start in providing condos in the area.

The successful bidder 'can even potentially expand to acquire the rest of the sites when they are subsequently available in the government land sales programme, thus an opportunity to have a territorial presence in this immediate vicinity', he said.

The government land sales programme in the first half of this year will feature 30 sites that will be able to generate a record 14,300 residential units - more than the 13,900 units offered in the second half of last year.

'The Government has and will be selling a large supply of new development sites, so home buyers will be spoilt for choice from the second half of the year onwards,' said Mr Nicholas Mak, head of consultancy and research at property firm SLP International.

[email protected]

[Lovelle]

The analyst predict $480 psf thereabout. Why so far from our forum analyst who predicted abve 500psf