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Thread: Tulip Garden relaunched for en bloc sale

  1. #91
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    Quote Originally Posted by land118
    personally, support level will be price Guccoland bought Leedon Height, which is $1062 per square foot per plot ratio including development charge. Also FH like Tulip. If owners want to sell at same price, think some developer will be quite keen.

    http://lushhomemedia.com/2008/01/14/...eights-owners/
    Can't tulip garden get 1100+++ if they sell themselves? Not think they will sell if it 1062 Psf ppr. They wont get a replacement nearby, got to go to jurong Liao. Who will wanna enbloc so they can downgrade their lifestyle

  2. #92
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    Quote Originally Posted by DaytonaSS
    Can't tulip garden get 1100+++ if they sell themselves? Not think they will sell if it 1062 Psf ppr. They wont get a replacement nearby, got to go to jurong Liao. Who will wanna enbloc so they can downgrade their lifestyle
    Agree, already wait so long, am sure, they will hold out for good deal. Wonder if $1200, slightly below the min. Asking price of $1200, will owners let go

  3. #93
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    I really think developer should try and negotiate a deal for TG, not many nice land in CCR left... All small piece of land... Aiyah anyway sure enbloc in 10 years la, the owners don't need to worry, and e price will be higher than the current 1200 psf ppr coz by then farrer road condo price will be 2500 to 3000 psf Liao... Enblo price always a function of replacement costa for the existing owners, if the owners cannot get a similar unit nearby they will not sell...

  4. #94
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    Quote Originally Posted by CCR
    I really think developer should try and negotiate a deal for TG, not many nice land in CCR left... All small piece of land... Aiyah anyway sure enbloc in 10 years la, the owners don't need to worry, and e price will be higher than the current 1200 psf ppr coz by then farrer road condo price will be 2500 to 3000 psf Liao... Enblo price always a function of replacement costa for the existing owners, if the owners cannot get a similar unit nearby they will not sell...
    After reading the Gillman Heights sage on sunday newspaper, if i own a unit at TG i also wont sell unless a good price. imagine enbloc at a lousy price then prices continue to ran up. By the time get the $$$ then move to a totally new environment that is much less convenient, then see no value in en bloc.

    I been inside TG to see my friend's unit. There are some huge units inside with nice environment. if dont enbloc, stay i think also shiok.

  5. #95
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    "Based on the $650 million reserve price, apartment owners - whose units range in size from 1,700 sq ft to 3,400 sq ft - stand to receive between $3.14 million and $5.45 million each. The freehold Tulip Garden has a land area of 316,708 sq ft". For owners of say 1700 sqft, they would pocket $3.14m, about $1847psf, around ,the area at that price FH, owners can still get new or quite new replacement units in Holland area for similar size condo units, but if enbloc deal done at 10% less than asking price, then owner only pocket about $1662psf, by the time they get $, maybe can get new replacement units in Holland area but not FH, probably LH, like D'leedon.

  6. #96
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    Quote Originally Posted by land118
    "Based on the $650 million reserve price, apartment owners - whose units range in size from 1,700 sq ft to 3,400 sq ft - stand to receive between $3.14 million and $5.45 million each. The freehold Tulip Garden has a land area of 316,708 sq ft". For owners of say 1700 sqft, they would pocket $3.14m, about $1847psf, around ,the area at that price FH, owners can still get new or quite new replacement units in Holland area for similar size condo units, but if enbloc deal done at 10% less than asking price, then owner only pocket about $1662psf, by the time they get $, maybe can get new replacement units in Holland area but not FH, probably LH, like D'leedon.
    If the owners are getting only $1662 i think it doesnt make sense to sell. Leedon Height new launch will probably will selling $2100 +- $100 psf. That should have an effect on property ard that area. Older developments like spanish village are selling ard 1400-1500 psf i guess, although last transacted price is ard $1300++ psf.

    After national broadcast of Guillman height saga, i think home owners are probably more cautious. 10% discount i m sure alot of pple will not sign ba.

  7. #97
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    You are right, there is the time lag effect... If lee don heights really gonna sell for 2100 and above ( same price as Glydebourne) then the owners of TG must at least get 1800 to 2000 right? Or else how to be worthwhile? Must pay so much more to move next door.... Pay a bit more ok lah.... But to topmup more thAn 10% gonna be a tough sell man...

    And ifnleedon launching at 2100 and above I really don't understand why developer doting take at 1200 man... Must be greedy lah.... Want to make a lot of profit.... At 1250 psf ppr, I think break-even about 1700 psf max.... Still got lots a room to play with

  8. #98
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    Owners of Tulip Gardens, you should go Bang on the doors of CapitaLand, after bidding a benchmark record psf ( $1/2 bn) for Bishan plot near MRT today, they still have $7bn less $0.5bn, your $650m reserve price is peanuts to them....

  9. #99
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    Quote Originally Posted by land118
    Owners of Tulip Gardens, you should go Bang on the doors of CapitaLand, after bidding a benchmark record psf ( $1/2 bn) for Bishan plot near MRT today, they still have $7bn less $0.5bn, your $650m reserve price is peanuts to them....
    from the time line Capitaland would have considered Tulip enbloc, but they went for katong's one instead.

  10. #100
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    Quote Originally Posted by august
    from the time line Capitaland would have considered Tulip enbloc, but they went for katong's one instead.
    Am sure, they may have their reasons and would have done their analysis....

  11. #101
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    Maybe too many units unsold at farrer area so they spread their eggs around.... What I don't understand is that they can always buy and then hold... Then launch when lee don residence and dleedon sold put coz not many szable piece of land at lee don area now....

  12. #102
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    No takers for $650m TG, residents who still want to sell, shld just cash out rather than wait and wait...., no bids after 10weeks period as per report in ST report today.

    No takers for Tulip Garden
    Today, 05:12 AM
    TULIP Garden was aiming to be the third-biggest collective sale here, with a bumper reserve price of $650 million.
    Full Story

  13. #103
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    CCR is not the trend now... all go to RCR and OCR

  14. #104
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    Ya prob in one to two years time when OCR over supply then CCR will be in vogue again

  15. #105
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    But you know what I don't understand is that when CCR picks up again, then owners of tulip will want higher price so actually they should bid for it now and after one to two years can launch it

  16. #106
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    what are the chances Pine Grove will enbloc if the amt is 3x bigger than TG asking price. The location seems much more inferior compared to TG......

    The small small developments seems to be favour of the year for enbloc.

  17. #107
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    Quote Originally Posted by DaytonaSS
    what are the chances Pine Grove will enbloc if the amt is 3x bigger than TG asking price. The location seems much more inferior compared to TG......

    The small small developments seems to be favour of the year for enbloc.
    Probably still have chance, TG- like strike 4D 1st prize, PG maybe like strike Toto jackpot.., maybe ask CapitaLand to scout for Another Jap Godfather to partner...

  18. #108
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    Haha I will be damn surprised if PG is successful man... Only slightly lower than TG in price but further away from town and 99 years lease? So how can?

  19. #109
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    Recent developers patterns to enbloc really open up a whole perspectives for buyers who want to invest in property that have enbloc potential. SMALL is indeed beautiful and full potential...., have to scout for small project less than $100mil...to stand a better chance of enbloc...even developers nowadays take risk based on quantum...Just like buyers chiong for MM units, developers also 'hood' and 'tan' for enbloc projects less than $100mil....

  20. #110
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    Leong Bee Court at potong pasir will easier to enbloc than PG given the price tag and proximity to city and mrt station. Macpherson Green is already enbloc given the same reason.
    Quote Originally Posted by land118
    Recent developers patterns to enbloc really open up a whole perspectives for buyers who want to invest in property that have enbloc potential. SMALL is indeed beautiful and full potential...., have to scout for small project less than $100mil...to stand a better chance of enbloc...even developers nowadays take risk based on quantum...Just like buyers chiong for MM units, developers also 'hood' and 'tan' for enbloc projects less than $100mil....

  21. #111
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    Quote Originally Posted by land118
    Recent developers patterns to enbloc really open up a whole perspectives for buyers who want to invest in property that have enbloc potential. SMALL is indeed beautiful and full potential...., have to scout for small project less than $100mil...to stand a better chance of enbloc...even developers nowadays take risk based on quantum...Just like buyers chiong for MM units, developers also 'hood' and 'tan' for enbloc projects less than $100mil....

    Based on the must get plots of land near MRT style of BIG boys , the small or medium size developers with little capital can only go for troublesome enblocs for small developments. develope into MM and selling high Psf with affordable quantums. This is based on my observations.

  22. #112
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    Quote Originally Posted by DaytonaSS
    Based on the must get plots of land near MRT style of BIG boys , the small or medium size developers with little capital can only go for troublesome enblocs for small developments. develope into MM and selling high Psf with affordable quantums. This is based on my observations.
    Good one...., held back investing in a large project that has enbloc potential becos quantum of project will just kill off any developers interest in current times...

  23. #113
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    On retrospect, owners of Farrer Court can considered themselves damn "Heng" and also thanked fortune god, CapitaLand. Not sure when will we see another big successful enbloc like Farrer Court..., solid timing then...

  24. #114
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    fortredale sold at 10% more than tulip garden but tulip garden no takers haha... Damn funny.... How can that location be better than holland road? When do you think developer will have appetite for bigger sized plot? Rather than keep bidding for MM plot?

  25. #115
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    Quote Originally Posted by CCR
    fortredale sold at 10% more than tulip garden but tulip garden no takers haha... Damn funny.... How can that location be better than holland road? When do you think developer will have appetite for bigger sized plot? Rather than keep bidding for MM plot?
    farrer court .....once bitten twice shy

    better go for GLS for bigger plot...no DC charge....faster turnover....lesser risk....

  26. #116
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    Quote Originally Posted by CCR
    fortredale sold at 10% more than tulip garden but tulip garden no takers haha... Damn funny.... How can that location be better than holland road? When do you think developer will have appetite for bigger sized plot? Rather than keep bidding for MM plot?
    Developers also unwilling to take some much risk, look at quantum and go for MM liao

  27. #117
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    Buyers buy MM units, developer buy MM land lolx.... When wi
    L developer buy proper size land?

  28. #118
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    very hard for developers to digest such large quantums, you need to have the kind of environment we had back in 2006. everything was like almost perfect.

  29. #119
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    Quote Originally Posted by kane
    very hard for developers to digest such large quantums, you need to have the kind of environment we had back in 2006. everything was like almost perfect.
    only far east can afford to sit on freehold land for yrs without launching it.....other listed developers simply cannot do tat as they nid to account for their shareholders

  30. #120
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    Actually the price tag of $600m+ or so isn't that high. Many of the GLS were sold at higher prices. Just that developers not that bullish on that site - can't help but feel that locality is getting passe. Nature? No. Very near city? No. Transportation? Average. Amenities? Average. Nice views? No. Exclusively private? No.

    No USP. The worst is ulu pandan area. Avoid at all costs.

    Quote Originally Posted by land118
    Developers also unwilling to take some much risk, look at quantum and go for MM liao

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