Guillemard Road condo up for collective sale

[reporter2]

http://www.straitstimes.com/archive/...-sale-20130425

Guillemard Road condo up for collective sale

Published on Apr 25, 2013

By Melissa Tan


A 55-UNIT freehold condomi-nium along Guillemard Road was put up for collective sale yesterday.

The Versailles sits on a plot of about 53,073 sq ft and was built in the early 1990s.

Its owners are expecting offers ranging from $105 million to $110 million, which translates into about $1,088 psf to $1,133 psf per plot ratio (ppr). This includes the development charge.

This is the first time the owners are trying to sell the property en bloc, said sole marketing agent Jones Lang LaSalle (JLL) Singapore in a statement yesterday.

The four-storey development could be redeveloped into a condo of up to 24 storeys, subject to approval, and yield up to 148 units.

JLL's national director of investments Yong Choon Fah said a new project on the site would likely be popular among owner-occupiers and investors.

She cited the upcoming Paya Lebar Central commercial hub and a lack of supply of new residential projects in the vicinity.

Paya Lebar Central is one of the three commercial hubs selected to provide alternative locations for businesses and to bring jobs closer to homes as part of the Urban Redevelopment Authority's decentralisation strategy.

The other two are Jurong Lake District and Kallang Riverside.

About 12ha of land around Sims Avenue has been set aside for Paya Lebar Central, which will consist of offices, hotels, retail and public spaces.

The "sold out" launches of nearby commercial projects Paya Lebar Square and One KM, which are both under construction, have also created hype in the area, Ms Yong said.

As required, more than 80 per cent of Versailles' owners by share value and strata floor area have consented to the collective sale.

The tender closes on May 30.

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[reporter2]

http://www.businesstimes.com.sg/arch...-sale-20130425

Published April 25, 2013

Paya Lebar freehold site up for sale

The site has a land area of 53,073 sq ft, with a gross plot ratio of 2.1

By lim jia ying


A 55-UNIT residential development near Guillemard Road and Paya Lebar Road has been put up for collective sale by tender by Jones Lang LaSalle (JLL), with an expected price of $105-110 million.

This translates to approximately $1,088-$1,133 per square foot per plot ratio including development charge.

The District 15 freehold site has a land area of 53,073 sq ft, with a gross plot ratio of 2.1 in the 2008 Master Plan.

The existing four-storey condominium, Versailles, was built in the early 1990s. This is the first time it is being put up for en bloc sale.

"The new project on this site should be popular amongst owner-occupiers and investors due to the upcoming Paya Lebar Central and the lack of supply of new residential projects in the vicinity," said Yong Choon Fah, national director of investments at JLL.

Based on the Urban Redevelopment Authority's (URA) guidelines, the potential gross floor area (GFA) of 122,598 sq ft could yield some 148 units of varying sizes. Depending on approval from relevant authorities, it could also be built up to 24 storeys.

"This is a rare freehold condominium redevelopment site that is located within walking distance to Paya Lebar Central. According to the URA, 12 hectares of land around Sims Avenue has been set aside for this commercial hub and it will comprise a mix of offices, hotels, retail, and public spaces, some with waterfront," said Ms Yong.

The site is also 500 to 600 metres from Paya Lebar MRT station, with access to both the East-West Line and the Circle Line.

She also expects the site to be popular among families with school-going children. Schools in the vicinity include Kong Hwa School, Haig Girls' School, Tanjong Katong Primary School, and Chung Cheng High School.

More than 80 per cent of the owners, by share value and strata floor area, have consented to the collective sale.

The tender for Versailles closes at 2.30 pm on Thursday, May 30, 2013.

[blackjack21trader]

http://www.businesstimes.com.sg/arch...-sale-20130425

Published April 25, 2013

Paya Lebar freehold site up for sale

The site has a land area of 53,073 sq ft, with a gross plot ratio of 2.1

By lim jia ying


A 55-UNIT residential development near Guillemard Road and Paya Lebar Road has been put up for collective sale by tender by Jones Lang LaSalle (JLL), with an expected price of $105-110 million.
...................

"This is a rare freehold condominium redevelopment site that is located within walking distance to Paya Lebar Central. According to the URA, 12 hectares of land around Sims Avenue has been set aside for this commercial hub and it will comprise a mix of offices, hotels, retail, and public spaces, some with waterfront," said Ms Yong.
...........

The tender for Versailles closes at 2.30 pm on Thursday, May 30, 2013.

there will be more than 10 bidders for this.

Definately closed higher than expected, so my Third Eye saw. BTW, Ms Yong is a very attractive lady.

good luck.

[DC33_2008]

Huge site will be difficult to enbloc these days.

[blackjack21trader]

Huge site will be difficult to enbloc these days.

I agree but I think this site should have many interested parties !

[proud owner]

[quote=DC33_2008]Huge site will be difficult to enbloc these days.[/quote




is 53,xxx sqft consider huge ?


I think its the plot ratio that is attractive

[VS]

[QUOTE=proud owner]

Huge site will be difficult to enbloc these days.[/quote



is 53,xxx sqft consider huge ?


I think its the plot ratio that is attractive

"Subject to Approval" on the height limit. So if not approved then how?