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Thread: Tai Thong Crescent (Parcel C) has attracted strong interest with 8 bids

  1. #1
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    Default Tai Thong Crescent (Parcel C) has attracted strong interest with 8 bids

    SINGAPORE: The Urban Redevelopment Authority (URA) said a Reserve List site at Tai Thong Crescent (Parcel C) has attracted strong interest with a total of eight bids.

    Spanning some 8,200 square metres, the 99-year leasehold site has been zoned for residential use with commercial space on the first storey.

    The top bid of S$245 million came from Verwood Holdings and Intrepid Investments.

    Verwood Holdings is a wholly-owned subsidiary of City Developments, while Intrepid Investments is a subsidiary of Hong Leong Holdings.

    The top bid was about 11 per cent higher than the second bid, which was submitted by Chip Eng Seng's unit, CEL Property.

    According to URA, the remaining bids ranged between S$172.7 million and S$220.6 million.

    Analysts said the top bid works out to a price of S$793 per square foot (psf) per plot ratio and they estimate that the residential units in the development may be launched at a price of above S$1,450 psf.

    Executive director for Research & Consultancy Department at SLP International Property Consultants, Nicholas Mak, said: "This could set a new benchmark price for 99-year leasehold apartments in the vicinity. Recent average transacted prices of new 99-year leasehold homes in the area such as Nin Residences and Eight Riversuites are S$1,205 psf and S$1,338 psf respectively. The commercial space could potentially fetch prices of above S$2,500 psf, depending on the size, layout and orientation."

    With a plot ratio of 3.5, Mr Mak said the site can potentially yield about 265 condominium units and 28 commercial units.

    Senior manager for Training, Research and Consultancy at Dennis Wee Group, Lee Sze Teck, said: "The rejuvenation of Potong Pasir with the injection of residential developments like 18 Woodsville, Nin Residence, The Senett, the recently-sold Pheng Geck Avenue site and the current site will increase demand for retail amenities in the area. The commercial component on the first storey will help address the shortfall."

    In a statement, CDL said if the bid for the site is successful, they plan to build a residential development of up to 19 storeys, with around 28 commercial units on the ground floor. And some of these commercial units may be released for sale.

    URA said a decision on the award of the tender will be made after the bids have been evaluated.

  2. #2
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    Good to have CDL subsidiary as the developer and not some time developer. Landed properties in the sennet estate area will benefit from all these developments.

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    With CDL's strong bid and Thomson View enbloc, looks like I need to change my stance from neutral to positive

    Ride at your own risk !!!

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    Waiting to view the double volume showflat that is next to this site.

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    I think everyone here is now a confirmed or converted BULL with all the pressing evidence in their face like the haze

    HUAT!!!!!!!!!!

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    Quote Originally Posted by carbuncle
    I think everyone here is now a confirmed or converted BULL with all the pressing evidence in their face like the haze

    HUAT!!!!!!!!!!
    frankly speaking I am very very surprised by Thomson View / Tai Thong Crescent land bid ... all > 700psf with target selling of 1.3-1.4kpsf

    Looks like land near MRT is min 700psf already (Fragrance's bind for TM and that Jurong East bid at 676psf / 700psf now look reasonable lol)

    So land cost 700psf, construction cost 250psf, DC charges 30psf, marketing cost 20psf, finance cost 100psf ... breakeven 1100psf
    Ride at your own risk !!!

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    So Nin residences 1100psf is a steal now?

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    Quote Originally Posted by azeoprop
    So Nin residences 1100psf is a steal now?
    anything new condo units walkable to MRT at 1100psf is ABSOLUTE STEAL

    our resistance reference point is still Sky Habitat
    Ride at your own risk !!!

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    Have you thought about the FH landed in that area?
    Quote Originally Posted by azeoprop
    So Nin residences 1100psf is a steal now?

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    1st level shops does it warrant a higher bid?

  11. #11
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    Not exactly a strong bid. More like thomson view owners willing to let go.

    Quote Originally Posted by phantom_opera
    With CDL's strong bid and Thomson View enbloc, looks like I need to change my stance from neutral to positive


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    If there are commercial units below your residence, rental should command higher premium which translates to higher valuation so price should be higher than just residential?

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    Quote Originally Posted by phantom_opera
    With CDL's strong bid and Thomson View enbloc, looks like I need to change my stance from neutral to positive

    singapore property will....up...50% by 2015

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    Quote Originally Posted by propertychap
    If there are commercial units below your residence, rental should command higher premium which translates to higher valuation so price should be higher than just residential?
    like siglap v...a bit noisy but who care as long as earn $$$

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    Now come to think of it Bedok residences price quite ok for a 1 or 2 bedroom. But all sold out I think?

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    Looks like CDL putting up show flat /sales office ready for sale liao !!

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    Price of retail will be high.
    Quote Originally Posted by alamak
    Looks like CDL putting up show flat /sales office ready for sale liao !!

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    Quote Originally Posted by alamak
    Looks like CDL putting up show flat /sales office ready for sale liao !!
    CDL people told me sales likely in September.

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    CDL mall should b q decent n good mix right, even though not that many retail units. Will b something like Greenwich v?

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    New Condo & Commercial At Tai Thong Crescent By City Development Limted

    266 units of apartment, 28 commercial units, at Tai Thong Crescent

    http://property-in-singapore.biz/new...lopment-limted

  21. #21
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    Better go for units facing landed propties as they are east-facing and less noisy.
    Quote Originally Posted by mi5mi6
    New Condo & Commercial At Tai Thong Crescent By City Development Limted

    266 units of apartment, 28 commercial units, at Tai Thong Crescent

    http://property-in-singapore.biz/new...lopment-limted

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