Hedges Park (D17, 99 Years Leasehold, Tripartite Developers Pte Ltd)

[Noexit]

Think the hedges park owner is in need of money

Loyang area to me is mostly for own stay . If for profit wise will have , but is just have to wait for some time .

[terrynfs]

Errr...u all do realise that the unit sold at 916 psf is a 2 bedder ground floor pes unit?

From Squarefoot research:

Unit 83 FLORA DRIVE #01-XX
Size 915 Sq ft
Sold at 916 Psf in May 2014
Bought at 831 Psf in May 2011
Profit $78,000

Not good profit, but profit nonetheless. In any case ground floor pes units are usually the worst if looking for capital gains. It's a niche market with huge outdoor spaces, and not good for investment.

count bsd and ssd, just break even

[gav108]

count bsd and ssd, just break even

SSD 4% = $33520
BSD = approx $16000
Total = $49520

Profit = $78000-$49520 = approx $28000
Minus lawyer fees and minimal interest costs from the limited progressive payments till now, still have at least $20K real profit.

Better than nothing.

But as I said, not good profit. Prob have to sell due to personal reasons. Don't think anyone buys pes units for capital gains.

[terrynfs]

SSD 4% = $33520
BSD = approx $16000
Total = $49520

Profit = $78000-$49520 = approx $28000
Minus lawyer fees and minimal interest costs from the limited progressive payments till now, still have at least $20K real profit.

Better than nothing.

But as I said, not good profit. Prob have to sell due to personal reasons. Don't think anyone buys pes units for capital gains.

don't forget seller agent fee, the overall profit can ignore

hold 3 years for nothing, the owner must be die die need money

[gav108]

don't forget seller agent fee, the overall profit can ignore

hold 3 years for nothing, the owner must be die die need money

yes indeed. standard agent fee of 1% will bring profit down to 10+ k. quite sad price, but if the seller's mentality is so long there's no loss, any gain is a bonus, then still ok.

hope this is a one-off. if a trend is established, it will impact the subsequent sale prices of Hedges, PO, PI and Inflora as well. but it looks like property prices are facing a turning pt on a macro level, so i don't know...

[terrynfs]

yes indeed. standard agent fee of 1% will bring profit down to 10+ k. quite sad price, but if the seller's mentality is so long there's no loss, any gain is a bonus, then still ok.

hope this is a one-off. if a trend is established, it will impact the subsequent sale prices of Hedges, PO, PI and Inflora as well. but it looks like property prices are facing a turning pt on a macro level, so i don't know...

exactly, hope future sellers can hold like parc rosewood owners...

[David3838]

I believe Changi area is better than woodlands but why the price are cheaper. Hais

[gav108]

I went for my monthly site visit yesterday, which is actually nearly 6 weeks since my last.

There definitely was progress but is kinda below expectation. Progress seemed really slow, and the general feeling is still not quite close to completion. And as eggie1961 shared, Foresque had recently TOP, and to make it worse, Foresque got the land 6 months later than TID so TID lost effectively 1 year.

Have a few videos. Upload and share the links later.

Foresque not TOP yet. Copied from its thread:

BCA-TOP-APPLN - SUSPENDED - 09/06/2014 14:33:23

Don't know what happened. Looks done on the outside.

[gav108]

I believe Changi area is better than woodlands but why the price are cheaper. Hais

I think it's because of demand and supply. Parc Rosewood is only 1 of very, very few new condo launches in Woodlands, and the only one with very tiny 1-3 bedders. So even if psf is high, quantum is low.

Compared to the east, there were a slew of new condo launches, all with shoebox units. Which is why, I think, Coco Palms is launched at such prices despite being 5 min walk to mrt.

[Yangtauty]

Hi, HP owners, I'm here here. Has anyone here started to look for furniture?

[Yangtauty]

[QUOTE=Yangtauty;485234]Hi, HP residences , I'm new here. Has anyone started to look for furniture? Hehehe excited. Any good deal for decking please share. Thx

[leftrightcentre]

Went for my monthly visit on Sun.

Once again, not a view that gives high confidence. There is hardly anything that is "fully completed" i.e. not fully painted, aircon not fully mounted, balcony railing not fully erected, etc.

I don't recall seeing the sign that says expected completion end-Aug. Didn't take special note, but it's either they removed the sign (think is required to put up?) or I just ignored it haha.

For the first time however, I see scores of workers and hear lots of construction noises on a Sunday PM. Was there about 2.30pm+ I think. Perhaps they are finally putting on high gear? Let's hope for this to continue and really complete within 2 months for delivery!

Power station / waste centre looking better.


I guess that giant machine is the power generator/mobile power station?


I am not really happy to see half painted facade for so many months running!


From what I see, most of the #01-#03 do not have the balcony railing installed yet. Just in case they damage them moving stores I reckon?




The drop off area.




Carpark entrance and clubhouse above. The entrance is quite high I must say.


Wonder what's the gap between the hedge perimeter wall and the pathway?


Marina pool.


Think this is Blk 81? Not referencing the floorplan but is the block between the clubhouse and marina pool.


Marina pool from further down the from.


No aircon still


Children's pool. They build a massive tentage over the pool. Good for all weather work!


Panasonic aircon.

[leftrightcentre]

Block facing Upper Changi.




I see some workers standing and working off the 1ft+ ledge after the balcony railing. It's is definitely strong ground (concrete flooring from the progress update photos). Wondering if we are allowed to use as a "planter" to place some small pots there. Doubt it for safety though...


Anyway, any eagle eyed person can see if the compressed marble in the living/dining is laid?


The structure for the lift/stairs to the side gate to the bus stop is up. But still seeing brown earth








No tennis court still. Not seeing much happening under the giant tentage too.






Back to Flora Drive. Photos from high point.








Guardroom is shaped.


Videos:
http://goo.gl/bnazfl
http://goo.gl/RQ360t
http://goo.gl/fkqZOt

[metformin]

thanks for the updates leftrightcenter

[leftrightcentre]

Flora Drive is largest dengue cluster. Hope it does not impact the construction progress and no stop work order is issued for Hedges!

[Shihtzus]

Oh dear..just saw the news earlier on the dengue too..and same tot as "leftrightcentre" hope works will not be affected.

And thank you so much for sharing the pics.

[beax]

Called tripartite and was informed that dec 2014 is the earliest top and key turnover will be after cny next year

[leftrightcentre]

Called tripartite and was informed that dec 2014 is the earliest top and key turnover will be after cny next year

That means from March on... This is one rare project that delivers late (or is it not?)

Must say the project management of this sucks. From changing Dec 2014 to Jun 2015 TOP. Or is this project management at the best. Already foresee this will slip and hence the delay?

[beax]

That means from March on... This is one rare project that delivers late (or is it not?)

Must say the project management of this sucks. From changing Dec 2014 to Jun 2015 TOP. Or is this project management at the best. Already foresee this will slip and hence the delay?

Last yr when we were checking the project, we were told that project completion is by mid of 2014 . 😞 project delivery is indeed late for this (sigh)
Thanks for sharing the photos btw

[hedgesalvin]

Really disappointing news, though somewhat expected. Work progress has really been very sloppy at the work site. One can easily forget that the launch of HP was in April 2011. More than three years have past and still waiting, for the fourth year to past too. I Think it boils down to complacency on Tripartite, Lian Beng's part.

[Shihtzus]

Am not sure coz we are owners n eager to get our units....but indeed for me..progress is so slow n I was told TOP 1st qtr of 2014 when I purchase it...the wait is so frustrating ..but we do not have a ground for anything, correct? Since the legal TOP is much later?

[leftrightcentre]

Foresque has just TOP'ed. Land lease was later, and completed much earlier. Hedges lost about 2 years on the lease for us.

[leftfield]

Should we collectively meet up with the Project Manager to understand what is going on?

[moonlight]

Should we collectively meet up with the Project Manager to understand what is going on?

Good idea, can we do that

[hedgesalvin]

I think its a great idea, but someone needs to organise.
Furthermore, will the project manager just pay lip service ?

[leftrightcentre]

Should we collectively meet up with the Project Manager to understand what is going on?

I'd be keen to do that. But wondering if the PM would be willing to meet us.

And the problem is also they are still "on schedule" as far as the official TOP is concerned. How much attention are they giving to really delivering ahead of schedule atypical of nearly every project? I bet they'll say it is in all their interest to complete as soon as possible so that they can get the money etc.

[HardcoreDude]

Glad to see the new look of this forum!

[leftrightcentre]

Went for my monthly progress check yesterday. Despite being a public holiday, there were workers working, albeit leisurely pace.

Unfortunately the facade do not seem to have progressed much. Paintwork still incomplete, guard room still naked, hedge still seeing red earth, etc. But I do seem to see some of the paintwork being "touched up". The paintcoat seems to be thicker and "final" then what previously seemed to be a "trial".

Anyway, here goes the photos:
Balcony barrier seems to be fully erected.


The tiles are now in place at the refuse centre.


Think a worker broke a glass panel...


Think this is the main gate?


The guardroom


Drop off point


Clubhouse cum carpark entrance


Aircon compressor not planted in all units yet...


The balcony/PES tiles is laid for the groundfloor unit.


Marina pool works hidden under the tentage


The demoralising sight of the red earth on the far end...


The BBQ pit along Upper Changi. Must say I really like the look of the path. The glass roofing of the BBQ pit is probably going to be high maintenance with grease and soot building beneathe with each BBQ. The trapped UV rays is going to make the temperature warmer than it already is... :s Anyway, I was watching the worker laying the tiles for a while. He seemed to take personal responsibility and is conscientious in his work. He works carefully and really ensures that the build quality is there. He places the tiles and arranges the layout, carefully spacing the tiles equidistance, checking their levelness, appying cement on the ground and below the tiles, tapping and pressing the tiles gently all over to ensure good application, checking levelness again, etc. Good work! If all our units are built with such care I think the delay is more palatable.


#03 is at the level of the fence.


From where I could see, the aircon for quite a good number of units are already installed internally, the marble and timber flooring fitted, room cabinets are installed, and even the kitchen cabinets. Seems like the internal work is quite well into progress!


The side gate lift structure still bare


Common facilities taking a nice shape, but work on tennis court has yet to start


Area is tidy, with a layer of concrete I reckon the tennis court, pavement, etc. would be up pretty soon.


If you can spot the unit unit in the middle, just by the right of the balcony they have erected a decorative panel. Now these units are gonna benefit from (free!) additional space. I could have placed some items just beyond the balcony and behind the panel. In case you'd be asking, it is solid concrete flooring behind the panel.

[gav108]

Quote:

"If you can spot the unit in the middle, just by the right of the balcony they have erected a decorative panel. Now these units are gonna benefit from (free!) additional space. I could have placed some items just beyond the balcony and behind the panel. In case you'd be asking, it is solid concrete flooring behind the panel."

Thanks for the pics. Actually that's not free additional space, but the AC ledge space for the 1-bedders.

[mka]

Hi all,

There is a FB page created for Hedges Park. We can post pictures and statuses there. I thought it maybe a good idea especially when we have lots of pictures uploaded. I will be uploading the floor plans there as well for references.

Please like the page. Here is the link;

https://www.facebook.com/pages/Hedge...76901269038494


Regards