Kellock Lodge at River Valley Road up for en bloc sale

[sleek]

Kellock Lodge at River Valley Road up for en bloc sale
By Jo-ann Huang | Posted: 02 June 2011 1826 hrs

SINGAPORE : Kellock Lodge on River Valley Road is up for a collective sale, with an asking price of more than S$84 million or S$1,383 per square foot per plot ratio, said its sole marketing agent CKS Property Consultants.

The redevelopment site has a land area of 21,784 square feet and it will yield a maximum gross floor area of 60,995 square feet.

This is based on a plot ratio of 2.8 for the redevelopment of the site, with a development charge of S$380,000.

Residents of the 48 units at Kellock Lodge will receive about S$1.5 million to S$2.76 million each.

This is the first time Kellock Lodge is going up for collective sale.

The 48 units have sizes ranging from 882 square feet to 1,786 square feet.

Based on the plot ratio of 2.8, the site can yield about 100 apartments at about 600 square feet each or 60 apartments at 1,000 square feet each.

It is within walking distance from Great World City, Zion Riverside Food Centre and other eateries and amenities, said CKS Property Consultants.

It is located in District 10, within minutes' drive from the Orchard Road shopping belt and the Central Business District.

Derrick Tan, head of investment sales at CKS Property Consultants, said Kellock Lodge's medium-sized freehold land plot is in demand, particularly since it's in a city fringe area like River Valley.

The tender will close on July 8 at 3pm.

- CNA /ls

[orange]

river valley is "city fringe"? then what does that make areas like holland, balestier and kallang?

[DaytonaSS]

river valley is "city fringe"? then what does that make areas like holland, balestier and kallang?

fringe city fringe

[proud owner]

river valley is "city fringe"? then what does that make areas like holland, balestier and kallang?

i think holland .... before farrer road junction still quite prime .... after which is pretty mass mkt ...

[vboy]

$1383 psf ppr...
after construction costs, and margin, need to launch at $2000 psf ppr

[devilplate]

$1383 psf ppr...
after construction costs, and margin, need to launch at $2000 psf ppr

starlight suites 2-2.2kpsf oredi

this kellock CFM and DOUBLE CFM become MM

[DC33_2008]

More MMs. Even our LKY does not want to be MM anymore.

starlight suites 2-2.2kpsf oredi

this kellock CFM and DOUBLE CFM become MM

[nobrainer32007]

The locality of kellock lodge is rather mixed. Starlight suites are better located being near to rivergare singapore river and somerset mrt. Kellock reminds me about balestier and perhaps joo chiat although it is in a much better district. MM at 2000psf for this location can sell if you consider those mm units in geylang which are selling like no body business at 1400 to 1500psf.

[mr funny]

http://www.businesstimes.com.sg/sub/...17540,00.html?

Published June 4, 2011

Kellock Lodge put up for en-bloc sale


KELLOCK Lodge, a freehold residential project at Kellock Road in the prime District 10, has been put up for collective sale with a price tag of $84 million and above.

The asking price works out to $1,383 per square foot per plot ratio, including an estimated development charge of about $380,000.

The site has a land area of 21,784 sq ft and can yield a maximum gross floor area of around 60,995 sq ft.

Marketing agency CKS Property Consultants estimates that about 100 apartments of around 600 sq ft each can be built on the site.

'Medium-sized freehold land plots, especially in desired locations such as River Valley, are much sought after,' said Derrick Tan, head of investment sales at CKS.

The site is within minutes' drive from Orchard Road and the central business district, CKS said. Great World City, Zion Riverside Food Centre, eateries and amenities are also within walking distance.

In addition, schools such as River Valley Primary School and ISS International School are also within one kilometre from the site, CKS pointed out.

If the asking price of $84 million is met, the owners of the 48 apartments that currently comprise Kellock Lodge will walk away with anywhere between $1.5 million and $2.8 million for each apartment, Mr Tan said.

The tender for the site will close on July 8 at 3pm.