Residential site at Choa Chu Kang Road/Phoenix Road goes for $142.78m

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06-07-11, 10:28
solsys

Residential site at Choa Chu Kang Road/Phoenix Road goes for $142.78m

Mon, Jul 04, 2011
AsiaOne

Residential site at Choa Chu Kang Road/Phoenix Road goes for $142.78m

The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Choa Chu Kang Road / Phoenix Road to Far East Civil Engineering and China Construction (South Pacific) Development Co. Pte Ltd. The joint bidders submitted the highest bid of $142.78 million, which was the highest bid in the tender for the site. this translates to about S$411 per square foot per plot ratio.
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The next highest bid came from EL Development at S$122 million.

The land parcel, offered for sale on a 99-year lease term, has an area of over 15,000 square metres and a maximum permissible gross floor area of 32,000 square metres. It attracted five bids when the tender opened on May 5. Bidding closed on Jun 30.

The 1.54 hectare site has a maximum permissible gross floor area (GFA) of 347,800 sq ft, which allows a developer to build about 335 units. The new residential development is within walking distance of the Phoenix and Teck Whye LRT stations, and will be near an upcoming shopping mall and the future Bukit Panjang MRT station.
06-07-11, 10:30
solsys

Breakeven and Selling estimate anyone?
06-07-11, 10:37
devilplate

Quote:

Originally Posted by solsys

Breakeven and Selling estimate anyone?

analyst oredi said 800psf breakeven which i tink is way inflated...shd be 700psf

selling px up to FEO liao...
06-07-11, 11:32
radha08

sell at 1000psf....:scared-1:
06-07-11, 11:37
devilplate

Quote:

Originally Posted by radha08

sell at 1000psf....:scared-1:

y not....tennery oredi from 1100psf to 1400psf....1kpsf CHEAP CHEAP LIAO BUY BUY!:hell-hath-no-fury: :p
06-07-11, 11:38
kingkong1984

Quote:

Originally Posted by devilplate

y not....tennery oredi from 1100psf to 1400psf....1kpsf CHEAP CHEAP LIAO BUY BUY!:hell-hath-no-fury: :p

this must support that one.

FEO, quite active in D23.
06-07-11, 11:45
devilplate

Quote:

Originally Posted by kingkong1984

this must support that one.

FEO, quite active in D23.

nowadays got MRT 1.2kpsf++ got LRT 1kpsf++ whahaha
06-07-11, 12:54
westman

Quote:

Originally Posted by devilplate

nowadays got MRT 1.2kpsf++ got LRT 1kpsf++ whahaha

No "T" how?
06-07-11, 14:10
kingkong1984

Quote:

Originally Posted by westman

No "T" how?

Golf... Tee off...

Selling price should be $900 to $1000 psf range. Should be higher than 8 courtyards.
06-07-11, 19:14
solsys

Tennery sales was quite ok I think when launched last year. Prices were exorbitant though.
06-07-11, 20:33
kingkong1984

Not attractive anymore.... Buyers had to be prepared for 4 yr SSD and most won't not touch sub or resale unless really need a roof over head.
06-07-11, 20:38
ysyap

Quote:

Originally Posted by kingkong1984

Not attractive anymore.... Buyers had to be prepared for 4 yr SSD and most won't not touch sub or resale unless really need a roof over head.

Why 4 yr SSD would turn people away from resale? I just think that resale would give you immediate return over 4 years' rental so its more attractive than in the past when people prefer to go for new launches and subsale in order to flip... :o
06-07-11, 20:41
kingkong1984

Quote:

Originally Posted by ysyap

Why 4 yr SSD would turn people away from resale? I just think that resale would give you immediate return over 4 years' rental so its more attractive than in the past when people prefer to go for new launches and subsale in order to flip... :o

Now buying for self stay only mah... U still want to invest?
Rental market risky also...flipping is flopping.never flippable now.
06-07-11, 20:43
ysyap

Quote:

Originally Posted by kingkong1984

Now buying for self stay only mah... U still want to invest?
Rental market risky also...flipping is flopping.never flippable now.

So have you sold all your investment units? :D
06-07-11, 20:45
kingkong1984

Quote:

Originally Posted by ysyap

So have you sold all your investment units? :D

Haha...... :D