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Thread: One Shenton (D1, 99 year leasehold, CDL)

  1. #31
    Makelele Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Jan 6, 2007, 11.25 pm (Singapore time)

    One Shenton condo nearly sold out in just 30 hours


    ONE Shenton, the latest condominium at residential hot spot Marina Bay, is all but sold out and some buyers are said to have already started putting up their units for sale in hopes of making a quick buck.

    As at 5pm on Saturday - about 30 hours after the soft launch on Friday - just five of the 330 units up for grabs were left. Another 11 penthouse units at the 341-unit project have not been released for sale.

    The 99-year leasehold condo, located at 1 Shenton Way and overlooking the upcoming Marina Bay Sands integrated resort, achieved prices of between $1,500 and $2,200 per sq ft (psf), said developer City Developments (CDL) in a statement.

    This was slightly higher than its original price range of $1,500 to $2,000 psf, and works out to about $1 million for the smaller units and over $4 million for some four-bedroom units.

    Agents also told The Sunday Times that a few units have already been put on the resale market.

    These resellers are believed to be asking for up to $200 psf more than their purchase price, which translates into tidy profits of at least $100,000.

    Demand for One Shenton was so overwhelming on Friday that CDL kept its showflats and sales office open until 2am on Saturday morning.

    'Large crowds of hundreds were seen queuing since Friday afternoon and over a thousand have thronged the show suites,' CDL said in its statement.

    Sales resumed at 9am and by 5pm, only five four-bedroom units on the top floors were left.

    CDL said it is now compiling the 'expressions of interest' it has received for the 11 penthouses it has not released and will decide later whether to put them up for public sale or to sell them via auction.

    The remaining four-bedroom units are priced at $2,200 psf, while the penthouses are likely to be more expensive on a per sq ft basis.

    One Shenton's sale prices compare favourably with those of the nearby Marina Bay Residences, which sold out in two days last month at average prices of almost $2,000 psf.

    All eyes are now on what One Shenton's penthouses will fetch, given that a penthouse unit at Marina Bay Residences had sold for a whopping $3,400 psf to set a record high for Singapore homes.

    About 65 per cent of One Shenton's buyers are local, CDL said.

    The rest are from countries such as China, India, Indonesia, Malaysia, Britain and Russia.

  2. #32
    Join Date
    May 2006
    Posts
    8,129

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Top Print Edition Stories
    Published January 9, 2007

    Unloading of One Shenton units begins

    Owners are now asking for some $500-600 psf more than what they paid

    By UMA SHANKARI

    (SINGAPORE) Speculators are looking to make a quick buck from reselling units at the red-hot One Shenton - just days after the project was launched.

    Both investors and agents have taken out advertisements in the newspapers over the past two days, pitching 'choice units' and 'good investments' to potential buyers.

    BT understands that as many as 50 apartments in the 341-unit project by City Developments could already be up for resale.

    For example, one investor who picked up an entire floor of more than 10 units is now looking for buyers, and is willing to sell the entire floor or individual units.

    Interested parties who missed the boat at One Shenton's launch last Friday can still have their pick of studio, as well as one, two, three and four-bedroom apartments - but for higher prices.

    While units in the 99-year leasehold condominium were mostly sold for $1,500 to $2,200 per square foot (psf) during the weekend launch, owners are now asking for between $2,000 and $2,800 psf.

    One agent BT spoke to said smaller units have slightly higher prices (in psf terms) than larger ones.

    Owners will no doubt feel the higher resale prices are justifiable in light of the project's popularity. When CityDev launched the project, 95 per cent of apartments were snapped up within 30 hours, the developer revealed later.

    And as of last night, just three of the 330 non-penthouse units were left.

    Penthouses, which were not immediately launched with the rest of the apartments, have been sold since.

    BT understands that at least one penthouse, out of a total of 11, has been sold for $2,500 psf.

    CityDev declined to say how many penthouses have been released for sale so far, but said penthouses are released 'based on application'.

    Going into the new year, resale activity is likely to continue to be strong at One Shenton if the nearby Marina Bay Residences (MBR) - where units were sold out in three days last month - is taken as an indicator.

    A scan of newspaper advertisements over the past two days showed that many MBR unit-owners are still putting their apartments on the market, one month after the launch. Previous media reports have said owners are looking for as much as $3,100 psf for their units in MBR.

  3. #33
    stupid singaporeans Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    PEOPLE WHO BOUGHT ONE SHENTON ARE NOW FINDING IT VERY DIFFICULT TO SUB SELL!!!! Look at all the desperado in classified ads. Every day there are desperadoes who want to sell their One Shenton. Only those big units with high flr and good facing can sell. The rest of kuching kurack units (small small units) all cannot sell. GOOD LUCK hahahahahhaahhaahahahaha

  4. #34
    scooby Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Quote Originally Posted by stupid singaporeans
    PEOPLE WHO BOUGHT ONE SHENTON ARE NOW FINDING IT VERY DIFFICULT TO SUB SELL!!!! Look at all the desperado in classified ads. Every day there are desperadoes who want to sell their One Shenton. Only those big units with high flr and good facing can sell. The rest of kuching kurack units (small small units) all cannot sell. GOOD LUCK hahahahahhaahhaahahahaha
    do not laugh at people's misfortune. it may come back to you and bite you on the ass!

  5. #35
    Unregistered Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    I can confirm the rumour that agents are finding hard to sub sell all the One Shenton units. Only the big and good units were able to sub sell. The rest of the hundreds of small units very very hard to sell These people may have to sub sell at a loss, if they cannot pay up in time. The deadline for full 20% downpayment is coming up.

    To anyone holding One Shenton... good luck!

  6. #36
    Unregistered Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    WOW THIS IS COOL.. BETTER LOCATION THAN ONE SHENTON



    Marina Bayfront office block to turn into homes?

    Owner may want to cash in on demand for city dwelling

    By KALPANA RASHIWALA


    (SINGAPORE) Could Marina Bayfront office block, currently occupied by Merrill Lynch at Marina Square, make way for apartments boasting views of The Esplanade and Marina Bay?

    Industry sources say that the issue is being mooted by some quarters in Marina Centre Holdings Pte Ltd (MCH). Any change of use will, of course, have to be approved by the planning authorities.

    MCH is a 53 per cent subsidiary of mainboard-listed Singapore Land, the property arm of United Industrial Corporation. In addition, UOL Group owns about 21 per cent of MCH.

    When contacted, an MCH spokesman said 'we are not aware of any redevelopment study' on Marina Bayfront office tower.

    However, market watchers say that it would not be surprising if MCH's board is mulling the issue, given that several Central Business District office blocks are already headed that way - including Natwest Centre and 1 Shenton Way - cashing in on hot demand for apartments in the city.

    'This trend of redeveloping offices into apartments raises pressure on MCH, like any office property owner in the CBD, to seriously explore the possibility of redeveloping its office property into apartments to extract greater value from the asset,' says a property analyst.

    Agreeing with this view, a property consultant says: 'The Marina Bayfront office block isn't very efficient right now, because of its layout and it's only six storeys high. Probably the highest and best use for the site may be high-rise apartments, which can deliver higher values, compared with the existing office building.'

    And the 15-year-old office block may face stiff competition when Marina Bay Financial Centre (MBFC) and other future office developments in the vicinity - such as the project on the former NCO Club on Beach Road - come up later, reckon office market watchers.

    The first office block at MBFC is slated for completion in the first quarter of 2010. Merrill Lynch's lease at Marina Bayfront is also said to end that year, although the bank is believed to have a renewal option.

    If Merrill Lynch decides to move to MBFC, this will ease any decision by MCH to redevelop Marina Bayfront at Marina Square, market watchers reckon. Also, redeveloping the property in 2010 could prove timely as it will take out some existing stock from the office market just as new projects are being completed, helping to ease an office glut that some consultants predict may develop in about four to five years' time.

    Marina Bayfront office tower was completed in 1992 and is part of the Marina Square development - which also includes a shopping mall and three hotels. The entire site - which has a 99-year lease from 1980 - is zoned for hotel use with a 3.4 plot ratio (ratio of maximum gross floor area to land area) under Master Plan 2003.

    However, given the site's proximity to a new MRT station under the Circle Line, MCH could make a case to the planning authority for the site - or at least the Marina Bayfront portion - to be given a higher plot ratio, say market watchers.

    Marina Bayfront has a net lettable area of about 80,000 sq ft - all leased to Merrill Lynch. The bank houses its merchant and private bank offices at this location.

    It currently also has offices at Millenia Tower and HarbourFront Centre, and will lease an entire six-storey office building being built in the HarbourFront Precinct. The new building will have about 200,000 sq ft net lettable area when completed in the fourth quarter next year and will house Merrill's global support centre for its private banking and global markets businesses. It will also be Merrill's third IT and operations hub worldwide. Merrill Lynch HarbourFront is being developed by Mapletree Investments.

  7. #37
    Unregistered Guest

    Question Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Hi every one,

    Please let me know a web site URL that subs sales e-market of condo.
    I hope to know current subs sales price for ONE SHENTON and Marina Bay Residences.
    Thanks for your help in advance.

    BR Tony

  8. #38
    Unregistered Guest

    Default Re: One Shenton Way (D1, 99 year leasehold, CDL)

    Quote Originally Posted by Unregistered
    Hi every one,

    Please let me know a web site URL that subs sales e-market of condo.
    I hope to know current subs sales price for ONE SHENTON and Marina Bay Residences.
    Thanks for your help in advance.

    BR Tony
    Hello Tony, I have found that the most accurate website for sub sale transactions is the URA one: http://spring.ura.gov.sg/lad/ore/rea...ransaction.cfm

  9. #39
    Unregistered Guest

    Thumbs down Re: One Shenton (D1, 99 year leasehold, CDL)

    I see one shenton developer still advertisting , are they finding it hard to sell the thrown back units by the flippers ?

  10. #40
    kena bluffed Guest

    Angry Re: One Shenton (D1, 99 year leasehold, CDL)

    Quote Originally Posted by Unregistered
    I see one shenton developer still advertisting , are they finding it hard to sell the thrown back units by the flippers ?
    Best part is the media keeps on talking about 100% sold by one shenton , damn lame .....

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