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Thread: Landed Properties En Bloc

  1. #1
    Join Date
    Mar 2008
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    Default Landed Properties En Bloc

    As per subject, my family owns a 6000 sqft detached house in D19 and it is at the end of a cul de sac. There are a total of 5 units and all in their original condition. Total 5 houses combined is about 21000 sqft. We need to buy the road and the kerbside leading to the cul de sac from LTA. The area is about 2900sqft. So total area for this site is estimated to be 23300 sqft.

    This site is a in a mixed landed zone and therfore can build apartments or strata landed houses (though not popular now).

    One of my neighbour and my family plans to persuade the existing 3 owners if we can sell the 5 houses as a plot to a potential developer.

    Questions:
    Do you think any developers would bite if the purchase price for the 5 houses at $110psf added up to about $23.8 mio?
    My estimate purchase from LTA is about $3mio. Does anyone know how are state land valued? The procedure and etc? Is it doable?
    Based on a similar site in Urban Residences, total no of units built was about 47. Does anyone know how much Urban Residences was sold?
    Is such small development doable and acceptable by the buyers?

    Appreciate your inputs.

  2. #2
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    Wait a few more years, the cycle has just begun.

    Looking at the take-up rate, people are calculating the next peak be 3 years from now.

    When they remove or reduce some of the CM the Bottom has reached.

    The Fun has just begun, good luck to all.

  3. #3
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    Default

    Quote Originally Posted by Arcachon View Post
    Wait a few more years, the cycle has just begun.

    Looking at the take-up rate, people are calculating the next peak be 3 years from now.

    When they remove or reduce some of the CM the Bottom has reached.

    The Fun has just begun, good luck to all.
    Cant wait 3 years leh..
    For me, I need to roll and roll and roll.. as long as I make a bit, i will move on because I dont know when there will be a downturn. I did catch twice during the downturn. It was nice. My first property investment turns out bad though I only lose a little bit.

  4. #4
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    Did the other three owners agree to the sale?

  5. #5
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    Default

    99-years ?

  6. #6
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    yes freehold.

    The other 3 owners not yet.

  7. #7
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    Think you should just help persevering the identity, that is detached landed.

    Thank me later, it would get more valuable.

  8. #8
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    I had a discussion with our neigbours. The site is only allowed to do Custer housing and no apartments. The nearby cluster housing projects were bought by the developers at a much lower price and yet they are struggling to sell those units. We did a survey and dont think it is feasible. Best is still keep it as it is.

    The good news is, I am almost gotten approval from URA to build 2 corners and 1 inter terrace on this site. Huat Ah.

  9. #9
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    Jan 2017
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    Quote Originally Posted by stl67 View Post
    I had a discussion with our neigbours. The site is only allowed to do Custer housing and no apartments. The nearby cluster housing projects were bought by the developers at a much lower price and yet they are struggling to sell those units. We did a survey and dont think it is feasible. Best is still keep it as it is.

    The good news is, I am almost gotten approval from URA to build 2 corners and 1 inter terrace on this site. Huat Ah.
    Huat ah ... Congratulations.

    A quick calculation shows a potential gross of $6 mil or more? It will be quite a journey for the next 2 years, but a journey well worths taking.

    And your neighbours never humtum you when you are changing the character of the estate? Just kidding.

    So, what he is doing is equivalent to a DIY enbloc to be become the Developer. It is fairly common to see this exercise in Landed.

  10. #10
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    Quote Originally Posted by stl67 View Post
    I had a discussion with our neigbours. The site is only allowed to do Custer housing and no apartments. The nearby cluster housing projects were bought by the developers at a much lower price and yet they are struggling to sell those units. We did a survey and dont think it is feasible. Best is still keep it as it is.

    The good news is, I am almost gotten approval from URA to build 2 corners and 1 inter terrace on this site. Huat Ah.
    Sometime it is good to do nothing and go for other thing instead.

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