must go drop by the showroom to see what is wheelock's standard.
must go drop by the showroom to see what is wheelock's standard.
Tanah Merah is ex because of proximity to airport and CBP (especially) hence rental yields can justify the price point.
AMK is just outside RCR and with the school, I think there would still be buyers. However it is 8 stations to Orchard and another 5 to Shenton Way. If you use Centro (beside AMK station) for comparison, it's 6 stations to Orchard and another 4 stations to Raffles Place.
I think 1500psf for a condo here is a safe starting point with Centro fetching past 1700psf...and this will likely drive condos in AMK past the point of no return (with exception of Centro IMO)
I am rich in debts...
are they already trying to manage the expectations that the psf is going to be around 1500psf??Originally Posted by mantrix
it's quite a walk to the nearby market and the future MRT station. like someone pointed out earlier, there's no nearby mall. 1500psf? are they for real? being near St Nics is really not going to count for much because 1km also need to ballot, whether it is phase 2b or 2c.
i think it's their tactic - announce it's expected to be around 1500psf and see how many blank cheques they can collect. If interest is insufficient before launch then they will adjust. But I say safe because of Wheelock's reputation and the current psf levels of Centro, TG and Sky Habitat. Still it's anybody's guess.Originally Posted by kane
Agree on the lack of amenities but who knows with the MRT things may change...i think they are going to bank on the view and the MRT proximity.
Of course still way overpriced for people like me
I am rich in debts...
can i ask a newbie question? what makes buyers think that showroom quality good = actual product good? if i am devp, i will spend a lot of $$$ on the showroom, but not necessary equate to final productOriginally Posted by kane
i think seasoned buyers go showflat will differentiated between interior design and what stuffs the developer will give... like what tiles, toilet accessories, wardrobe, kitchen accessories... and also to see the layout.Originally Posted by Shanhz
so maybe can expect more quality high end accessories from wheelock ?
thanks for the explanation. but i beg to differ. i think showroom is used to bluff newbies. i am not season investor, but for me, i can visualise using floorplan. tiles etc, if unit selling cheap, can always spend some $ on reno. if unit selling sky high, i will feel they use good material but make 200% margin, bo hua. so what's the use of the showflat?Originally Posted by taggy
there's only 1 thing i find useful there, which is the model of the whole development. that one cannot visualise on paper.
it's just marketing. FEO does that super well.
I am rich in debts...
St Nic is definitely a plus point. Secondary school going kids have parents who are likely to have paid their HDB full or are likely to be financially mobile.
The confirmed future MRT is very near. 1500 is palatable.
Originally Posted by Shanhz
go check out ardmore and the sea view.
Yes another thing to note is St Nic is primary and secondary schools.Originally Posted by cnud
If your dauggter is already studying there, maybe it might justify getting a home there. But if you're trying to be within 1km, it's going to be a very long and lucky shot.
good quality? sorry.. dun intend to waste agent's time.Originally Posted by kane
Very good.Originally Posted by Shanhz
hmm.. noted. thanks.Originally Posted by kane
any idea abt parc oasis?
Haven't been in that one.Originally Posted by Shanhz
From DMG
After a long hiatus from land purchases, Wheelock Properties
yesterday announced that it has successfully clinched a leasehold 99-year
residential site at Ang Mo Kio Ave 2 for S$550m. The site, located next to St
Nicholas Girls' School and the future Mayflower MRT station with an allowable
gross floor area of 696,302 sf, attracted a total of 12 bids. Wheelock’s tender price
works out to S$790 psf ppr and we estimate a $0.15/share accretion to NAV
assuming breakeven of $1,250 psf and a selling price of $1500-1600 psf. This site
acquisition is timely, given the group’s depleting landbank in Singapore, currently
comprising of Ardmore Three and unsold units at Scotts Square. It also signals a
broadening of the group’s focus on the prime residential districts to strategically
located leasehold sites in suburban locations. Flushed with cash from the
progressive collection of sale proceeds of Scotts Square, Wheelock’s cash
position swelled to over S$1b earlier last year. It has since deployed over $300m
to invest in financial assets and recently raised its stake in SC Global from 16.07%
to 17.9% through open market purchases. We believe more active deployment of
its capital could serve to narrow the stock’s current discount of 29% from its NAV
of $2.86/share
Well good luck to them now!!!
I am rich in debts...
shave 7-10% of their margins lor. heh.Originally Posted by mantrix
Not sure if ave $1400psf is a good buy but I do know the only people stands to gain with this are residents from Horizon Garden and Horizon Green.
That area classified under Thomson Hill are mainly landed houses with only 2 cluster development. Very nice environment though.
if impact of the new CM hits this project badly they too will be affected. Simply because they are cluster terrace and the high quantum is too much to bear what with the ABSD and 7% tax.
I am rich in debts...
That is true, ABSD will affect ALL property buyer. But do a check on these cluster current psf. Still has room to grow. Also, cluster houses target on a specific buyer group. Its higher quantum are for those big family who prefer hybrid of condo/landed. Its rental yield are relatively higher due to expats' favor.
U are vested, yes? There is a reason for the low psf. 99LH , lack of amenities and connectivity. Family-oriented buyers, unless their daughters are confirmed in St Nic, would not really want this but i am digressing. Let's go back to the 1500psf land parcel and see how it turns out.
I am rich in debts...
wheelock sells its stake in sc global to simon cheong for 1.80 afterall.
i guess a good thing for this ang mo kio site is:
"In light of recent market developments, the Company has decided to dispose of its entire
holding of SC Global Shares.
As the Company has just been awarded a large residential site in Ang Mo Kio Avenue 2
for about 600 residential units, the Company would be focusing its attention to make it
one of the most distinctive homes in the Ang Mo Kio area."
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_F9AF6D2E7B4B782648257AF500442E15/$file/WPSL_ANN_SCG.pdf?openelement
the group would get $133.5m in cash from simon cheong for selling the stake. this would increase their cash and cash equivalents after netting off ALL debt to 1.05b. even if they paid for this 550m site in full cash (which of course they won't), they would still have 500m in cash.
wheelock has deep pockets.Originally Posted by bargain hunter
It is currently a vacated old school, right?
It is the grass patch next to the vacated school.
The showroom building now next to grandeur 8 is this for this project ?
is that even a showroom they are building next to grandeur 8?