View Full Version : $1.132b 1181psf for the plot of land above Woodleigh mrt
bargain hunter
13-06-17, 18:19
i think its SPH who won the bid.
bargain hunter
13-06-17, 18:21
while there is a commercial component to it, there are also a lot of conditions attached to this plot of land.
made mincemeat of their predictions:
JLL national director Ong Teck Hui noted that Bidadari has the makings of a new prime city-fringe sub-market, "so the subject site is in a highly desired location and being next to Woodleigh MRT Station, it will be a strong draw for home buyers as well as tenants of commercial units".
"The only deterrent to interested parties would be the high absolute land price as the development quantum is close to a million square feet," he added.
The top bid could be S$800-900 per square foot per plot ratio (psf ppr), so the absolute land price could range from S$766-863 million, said Mr Ong. He expects seven to 10 bids.
SLP International executive director Nicholas Mak envisages around eight to 16 bids with the highest offer coming in at S$710-750 psf ppr - translating to an absolute land price of S$680.5 million to S$719 million.
i think its SPH who won the bid.
Is the bidding price high? Wat psf they have to sell the condo unit to make money?
bargain hunter
13-06-17, 20:02
SPH, Kajima team up to place top bid for Bidadari residential and commercial site
ENTITIES linked to Singapore Press Holdings (SPH) and Kajima Development have placed the top bid at a state tender for a 99-year-leasehold mixed commercial and residential site in Bidadari Estate.
They have offered S$1.132 billion, which works out to S$1,181 per square foot per plot ratio.
The second highest bidder was a tie-up between Far East Civil Engineering and Sekisui House, which offered about S$1.12 billion for the site. Other bidders included GuocoLand, Kingsford, Sim Lian, Nanshan Group Singapore, City Developments and Chip Eng Seng.
In all, the tender received 12 bids
The site can yield about 825 private homes and up to 15,000 square metres of shops and restaurant uses.
bargain hunter
13-06-17, 20:04
Is the bidding price high? Wat psf they have to sell the condo unit to make money?
there is a mall (which can only have one owner at any one time) which i believe sph is valuing at a high psf. so its hard to say how much they need to sell to make money.
The top two bids are so close in price.
bargain hunter
13-06-17, 20:09
The top two bids are so close in price.
The top 3 probably intended to own and manage the mall and have placed a high psf value on them.
The top 3 probably intended to own and manage the mall and have placed a high psf value on them.
Poiz residence land, got commercial only $775 psf ppr
Very bullish considering that retail is not doing well.
Think the commercial component is about 3x that of Poiz
To know whether sph is overbid or not, just see it's share price tomorrow 😜
SPH is thinking of this is another Paragon....
smellyfish
13-06-17, 21:42
might have to do with their appointment of CEO extraordinaire Ng Yat Chung
Is this the start of more non-property focused entities jumping on the property development bandwagon?
Arguably SPH has always a property arm but they don't bid for new sites.
SPH has always a property arm but they don't bid for new sites.
Who said? This is the third mall to be built on govt land after Clementi Mall and Seletar Mall.
Is this the start of more non-property focused entities jumping on the property development bandwagon?
Arguably SPH has always a property arm but they don't bid for new sites.
Haha they built that very nice Sky 11 didn't they?
I am vested in Potong Pasir so I welcomed this! Haha.
The development charge for this sector had increased the most for the last quarter if I am not mistaken.
The selling price can be expected to break new records.
tonymontana
13-06-17, 23:14
I am vested in Potong Pasir so I welcomed this! Haha.
Potong pasir will be the next happening area, awaiting more fnb and retails at venue and poiz. And then this sph managed (hopefully) woodleigh site. Rejuvenation of this hidden gem until recently
I am vested in Potong Pasir so I welcomed this! Haha.
Good for you!
I think the city is expanding out to Potong Pasir!
I mean they don't bid new sites to build condo. Sky 11 was redevelopment of Times Industrial Building. So is Cosmopolitan condo.
Times Development Pte Ltd, a wholly-owned subsidiary of Singapore Press Holdings Ltd (SPH), was incorporated in 2006 following SPH's decision to build a freehold upmarket condominium at its Times Industrial Building site in Thomson Road, opposite Singapore Polo Club. Built in the 1960s, Times Industrial Building was used to house the company’s magazines business, which has since moved to Media Centre in Genting Lane.
PropVestor
14-06-17, 12:13
Mixed development sites that cross $1bn mark will become increasingly common as land use intensifies. Do however take note that this is only a 2-in-1 which has very large components for both residential and retail too. The nearby number of new residents will support this development akin to Watertown at Punggol by Far East. I think Far East wants to replicate this model but got beaten by SPH by a narrow margin.
With regards to the selling psf, this is going to hit even $2,000 ($1,181 ppr purchased price) for high floor, good facing. Buyers will need to adjust mindset on City Fringe prices again. There is a similar glass ceiling for PPR too when it was finally transacted. Monetisation of the very large 65,000sqft community centre and 20,000sqft neighbourhood police centre is unlike any commercial unit, that will take some hit on their margins. However, they can be considered permanent tenants which some way is government linked, just like SPH. Its on an even keel.
2 cents,
PropVestor
My thinking is that even with the underground link to the bus interchange and next to MRT location (not an exchange), does it qualify as a RCR prime location?
Mixed Developer in Bukit Batok Ave 6.
Le Quest.
esitmated pricing $1100psf
It'd been almost 10 years since bukit batok has a private condominium. Now its the time.
Total units 516
- Studio + Study (36units)
- 1BR + Study (96units)
- 2BR (48units)
- 2BR Premium (60units)
- 2BR Deluxe + Study (36units)
- 3BR (24units)
- 3BR Suite (24units)
- 3BR Premium (60units)
- 3BR Deluxe (84units)
- 4BR + Study (24units)
- 4BR Deluxe (24units)
1BR from $566K
2BR from $708K
3BR from $907K
4BR from 1.2mil
For floor plans do email:
[email protected]
tonymontana
14-06-17, 13:30
Mixed Developer in Bukit Batok Ave 6.
Le Quest.
esitmated pricing $1100psf
It'd been almost 10 years since bukit batok has a private condominium. Now its the time.
Total units 516
- Studio + Study (36units)
- 1BR + Study (96units)
- 2BR (48units)
- 2BR Premium (60units)
- 2BR Deluxe + Study (36units)
- 3BR (24units)
- 3BR Suite (24units)
- 3BR Premium (60units)
- 3BR Deluxe (84units)
- 4BR + Study (24units)
- 4BR Deluxe (24units)
1BR from $566K
2BR from $708K
3BR from $907K
4BR from 1.2mil
For floor plans do email:
[email protected]
lousy location , next to a busy main arterial road, and far away from most anything. go advertised elsewhere and don't spam every thread with your ads pls.
wah, another bullish bid. Am i missing something?
When Bidadari BTOs prices were announced, and to be the same prices - or even higher - than Tiong Bahru's last BTO prices, I already suggested to clients to quickly go invest in Potong Pasir.
At the very least, the government already deemed this District 13 to be as valuable as District 3 in future.
Potong pasir will be the next happening area, awaiting more fnb and retails at venue and poiz. And then this sph managed (hopefully) woodleigh site. Rejuvenation of this hidden gem until recently
Yup. SPH has a wealth of experience in managing malls - although some will argue Seletar Mall is "so-so" at best.
But I find Seletar Mall ok ley.
Mixed development sites that cross $1bn mark will become increasingly common as land use intensifies. Do however take note that this is only a 2-in-1 which has very large components for both residential and retail too. The nearby number of new residents will support this development akin to Watertown at Punggol by Far East. I think Far East wants to replicate this model but got beaten by SPH by a narrow margin.
With regards to the selling psf, this is going to hit even $2,000 ($1,181 ppr purchased price) for high floor, good facing. Buyers will need to adjust mindset on City Fringe prices again. There is a similar glass ceiling for PPR too when it was finally transacted. Monetisation of the very large 65,000sqft community centre and 20,000sqft neighbourhood police centre is unlike any commercial unit, that will take some hit on their margins. However, they can be considered permanent tenants which some way is government linked, just like SPH. Its on an even keel.
2 cents,
PropVestor
My thinking is that even with the underground link to the bus interchange and next to MRT location (not an exchange), does it qualify as a RCR prime location?
The forum should be interested to know how the $2,000 psf is calculated.
anythingwhatever
22-06-17, 08:16
The forum should be interested to know how the $2,000 psf is calculated.
Maybe $1200 (land) + $500+ (construction) + $200+ (profits)?
Maybe $1200 (land) + $500+ (construction) + $200+ (profits)?
Obviously not.
But you should ask our billionaire who came up with the figure of $2000 psf, which is hogwash.
The forum should be interested to know how the $2,000 psf is calculated.
The forum/ owners/ investors are more delighted to know their profits instead of how $2000 psf calculated.
Just like all of BTO buyers, knowing the cost. And so what can they do.? They just wanna know how much the profits towards end of mop.
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