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Thread: Hedges Park (D17, 99 Years Leasehold, Tripartite Developers Pte Ltd)

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    Default Hedges Park New Condo Site (LH99, besides Ferraria Park Condo)

    "Tripartite Developers, a joint venture (JV) company between City Developments, Hong Leong Group and TID, are expected to start marketing its Hedges Park condominium project along Upper Changi Road later this week.

    According to market analysts, the average price of units at the 99-year leasehold project is estimated to be within S$850 psf to S$900 psf.
    Hong Leong has developed seven large condo projects on a large tract of land which it acquired in the 1970s. The projects include Azalea, Ballota, Carissa, Dahlia, Edelweiss, Ferraria Park and The Gale condos.

    The Hedges, however, will not be built in this area. Instead, Tripartite will be developing the 501-unit, eight-storey project on a site acquired at a state tender in April last year.

    The Hedges comprises one- to four-bedroom units and penthouses. The one-bedders will have a size of 484 sq ft, while its ground-floor units, which each feature a private enclosed space, are larger at 570 sq ft.
    Two-bedroom units start from 764 sq ft and three-bedroom units from 1,000 sq ft, while four bedders are 1,345 sq ft, though a four-bedder with a private enclosed space is 1,538 sq ft.

    Meanwhile, the Urban Redevelopment Authority (URA) is set to launch another 99-year leasehold condo plot next to Ferraria Park for tender under the confirmed list later this month."

    (Source : PropertyGuru – 13 Apr 2011)

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    Will this be another Tripartite venture for a LH99 site, after their 'H' launch this weekend? Will FEO go in and bid for higher land price?

    Will this be Tripartite's 'I' project...

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    Tripartite likely to bid aggressively to guard their turf.
    Anyway, they have nothing to lose. They have landbank of 2 more FH land. Land that is now used for showflat and housing the construction workers. So with or without this land, there will be a I and J. With a high 99LH project, they will price their last 2 FH project even higher. And the best part is this FH land is almost free as it is acquired in 1970s.

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    Yes, they bot the FH land in the 70s and that must be veri veri cheap, and the had already made alot from the A to G FH projects. Got money now to go bid high and aggressively for the LH99 land, nice...

    Just wonder when will they launch the other FH projects (possibly two of them)? This will be the land between 'D' to 'H' along Flora Drive, and the back facing 'E' and 'G', according to the MasterPlan 2008 layout.

    They may end up having 'A' to 'K'... in the whole area.

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    when everything's over.. they may start enbloc A n B devts.. woo hoo

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    Quote Originally Posted by romeo
    when everything's over.. they may start enbloc A n B devts.. woo hoo
    Haha... its Not Impossible.

    New projects there are going to be smaller (and smaller), that makes A, B, C, D, E possible en-bloc potential in the futuer as these are freehold land projects...

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    Tender site... about 380 units LH99...

    Attachment 2241

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    Aiyana, fh can see n touch? It's all in the mind.

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    Quote Originally Posted by kingkong1984
    Aiyana, fh can see n touch? It's all in the mind.
    FH good only if can enbloc

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    talkin abt en-bloc, heard loyang valley the red-brick devt, reject twice..

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    Quote Originally Posted by romeo
    talkin abt en-bloc, heard loyang valley the red-brick devt, reject twice..
    old 99lh....super far from amenities and MRT....tats it...

    it does looks like chalets though

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    News of Land LH99 Flora Drive is out...

    "URA puts up 3 residential sites for sale
    April 26, 2011

    Flora Drive, Hillview Avenue, Land Sales, Woodlands
    The Urban Redevelopment Authority (URA) has released three residential sites for sale on Tuesday.

    The two land parcels at Flora Drive and Woodlands Avenue 2 are launched for sale under the Confirmed List of the 1st half 2011 Government Land Sales Programme.

    Potentially yielding about 380 housing units, the site at Flora Drive is located in a residential estate in Pasir Ris.

    With a site area of about 2.68 hectares, it has a maximum permissible gross floor area of over 37 thousand and 5 hundred (eds: 37,545) square metres.

    The second site is located at Woodlands Avenue 2 and Rosewood Drive.
    The land parcel can potentially yield about 390 housing units.

    The site, with an area of about 2.74 hectares, is near the Republic Polytechnic and Singapore American School.

    It has a maximum permissible gross floor area of over 38 thousand (eds: 38,333) square metres.

    In addition, the third site at Hillview Avenue is placed under the Reserve List for application for sale.

    Potentially yielding about 405 housing units, it has a site area of about 1.26 hectares and a maximum permissible gross floor area of 35,416 square metres.

    It’s located near the future Cashew and Hillview MRT Stations, which are part of the future Downtown Line 2 Mass Rapid Transit system scheduled for completion in 2015.

    Earlier this month, the Housing & Development Board has also released a private residential site at Sengkang Square and Compassvale Drive for sale through the Reserve List.

    Together, these four residential sites can potentially yield about 1,885 housing units, offering developers and home-buyers with more choice."

    (Source : Channel NewsAsia – 26 Apr 2011)

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    Quote Originally Posted by devilplate
    old 99lh....super far from amenities and MRT....tats it...

    it does looks like chalets though
    it has an old charm to it

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    wondering who will end up tendering for this piece of LH99 land, will it be Tripartite again, or maybe FEO !!!

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    URA receives 4 bids for Flora Drive site

    The Urban Redevelopment Authority (URA) has received four bids for a 99-year residential land site at Flora Drive.

    At the close of the tender on Thursday, the highest bid came from Frasers Centrepoint, which submitted a bid of S$131.4 billion. This works out to about S$3,499 per square metre.

    The next highest bid was from Tripartite Developers at S$130.8 million or about S$3,484 per square metre, followed by Leng Hoe Development at S$123 million or S$3,276 per square metre.

    Allgreen Properties submitted the lowest bid of S$105.9 million or S$2,820 per square metre.

    The site has an area of about 26,800 square metres and a maximum gross floor area of slightly above 37,500 square metres.

    It was launched for public tender on April 26.
    Commenting on the site, CB Richard Ellis (CBRE) said the land is surrounded by several condominiums such as Hedges Park and The Gale – which are both under construction – as well as Ferraria Park, Edelweiss Park and Dhalia Park.

    CBRE’s executive director, Mr Li Hiaw Ho, said: “Its proximity to the Japanese Primary School will attract Japanese expatriates working in the industrial employment centres in the east.”

    He added that the site could yield around 380 new apartments.

    “The top bid of S$131.38 million or S$325 psf/plot ratio will translate to a breakeven cost of about S$700 psf,” he commented.

    Mr Li said the 501-unit Hedges Park condominium, which was launched for sale in April 2011, had over 60 per cent of it sold at a price of S$850 to S$900 psf.

    Source : Channel NewsAsia – 16 Jun 2011

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    its funny how hong leong didn't bid significantly higher to "defend" the price of hedges park. from hereon, hedges park's sales may slow.


    Quote Originally Posted by latour
    URA receives 4 bids for Flora Drive site

    The Urban Redevelopment Authority (URA) has received four bids for a 99-year residential land site at Flora Drive.

    At the close of the tender on Thursday, the highest bid came from Frasers Centrepoint, which submitted a bid of S$131.4 billion. This works out to about S$3,499 per square metre.

    The next highest bid was from Tripartite Developers at S$130.8 million or about S$3,484 per square metre, followed by Leng Hoe Development at S$123 million or S$3,276 per square metre.

    Allgreen Properties submitted the lowest bid of S$105.9 million or S$2,820 per square metre.

    The site has an area of about 26,800 square metres and a maximum gross floor area of slightly above 37,500 square metres.

    It was launched for public tender on April 26.
    Commenting on the site, CB Richard Ellis (CBRE) said the land is surrounded by several condominiums such as Hedges Park and The Gale – which are both under construction – as well as Ferraria Park, Edelweiss Park and Dhalia Park.

    CBRE’s executive director, Mr Li Hiaw Ho, said: “Its proximity to the Japanese Primary School will attract Japanese expatriates working in the industrial employment centres in the east.”

    He added that the site could yield around 380 new apartments.

    “The top bid of S$131.38 million or S$325 psf/plot ratio will translate to a breakeven cost of about S$700 psf,” he commented.

    Mr Li said the 501-unit Hedges Park condominium, which was launched for sale in April 2011, had over 60 per cent of it sold at a price of S$850 to S$900 psf.

    Source : Channel NewsAsia – 16 Jun 2011

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    hold can liao.. why defend? throwing good money after bad, when the tide goes out.. all fishes swim out also... u defend for what? Sand Castle?

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    resident in this region. new site inferior to hedge's park site. new site is butt next to TPE, and gotta walk out just for a bus stop. hedges park has bus stop just next to it. has 3 buses going to simei, tanah merah, tampines n pasir ris mrt (10-15min ride). all 3 buses will also bring u to a station in DL3 in 2-3 bus stops in the future. think developers, beside being more cautious now, also study the site carefully before bidding

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    Quote Originally Posted by kingkong1984
    hold can liao.. why defend? throwing good money after bad, when the tide goes out.. all fishes swim out also... u defend for what? Sand Castle?

    Smart move by Tripartite. Now, FCL gotta hold it by tendering for the upcoming LH99 land tender in August. If FCL wins the 2nd land, it has upper hand in deciding the launch price for both projects next year. And Tripartite can relax and plan it big for the balance FH lands in 3-4 years.

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    Will there be a chance that FCL will join force with FEO to develop the project on this piece of land?

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    any bro/sis here have info on when this project plan to launch? any details to share...

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    Quote Originally Posted by latour
    any bro/sis here have info on when this project plan to launch? any details to share...
    Tender in june.... need time to get plans done and get approved..right? Don;t think anything will come out till end of year..

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    It seems to be on higher ground than the rest of A to H. Might be worth a look for those units on 6th to 8th floor. You might be able to see the whole of the flora estate.


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    beside an FH that is not priced very high now.. how to buy.. limited upward potential.. unless they launch at avg 7xxpsf but like that hedges park owners will cry fowl..

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    Quote Originally Posted by linchong84
    beside an FH that is not priced very high now.. how to buy.. limited upward potential.. unless they launch at avg 7xxpsf but like that hedges park owners will cry fowl..
    Will developer care? as long as hedges is sold by that time? Might price lower then hedges,,cause land was cheaper I think... also sales are cooling down..
    lot of excuses.. diff plot..diff time..

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    Quote Originally Posted by rockinsg
    Will developer care? as long as hedges is sold by that time? Might price lower then hedges,,cause land was cheaper I think... also sales are cooling down..
    lot of excuses.. diff plot..diff time..
    land price of this is 4psf higher if i din recall wrongly..

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    The land price is about the same with Hedges i tot. With Hegdes selling well (was told) with that price level, and most of the latest trans in the Flora area FH condos, if they launch now will be at level playing field and earn good profits. If launch later then its diff to say.

    KBW says the HBD/BTO/Resales will take a few years to sort out the imbalance in demand and supply. So there is a very good chance new laucnhes will be higher, or at same level, very unlikely its going to be cheaper. My guess is it will be around avg $800 to $850 /psf for this LH99 project (and what's the name... 'I', hopefull not an 'I' for Indians ? )

    Quote Originally Posted by rockinsg
    Will developer care? as long as hedges is sold by that time? Might price lower then hedges,,cause land was cheaper I think... also sales are cooling down..
    lot of excuses.. diff plot..diff time..

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    oh, and I tot there is building height restrictions for that area, so they may do what Hedges do, cut the land down to level with ground and the rest of condos there...

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    Drive pass via TPE last evening and notice there is now another board posting land for sale that is nearer to the Japanese school... last piece of land in the Flora Road/Drive area is going soon, and i think its LH99. Will be interesting to see the bid piece for this land parcel and which developer will go in...

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    Fencing-up work started... Q1'12 launch?

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