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Thread: One Shenton (D1, 99 year leasehold, CDL)

  1. #61
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    Quote Originally Posted by luzman
    Lumiere a better buy?? you must be kidding me...cos as mentioned, if it is good..it should be fully sold....but there are still units available...
    Lumiere looks really dead. Developer holding on to 50 units waiting/dreaming to launch at 2500 psf up. Units are asking 1900-2200psf depending on floor but no takers. The actual rental is not as fantastic as portrayed by agents earlier before TOP.

    A 506 sqft stack 4 studio at 950k - 1.1 mil with a rental of $3500 to $4000 translate to a yield of 4- 4.5%? Thats already pro forma numbers since other developments like Clift have not come online. The original buyers and some buyers in the downturn in early 09 will be able to enjoy 6% or more yield. Not those sub sale guys.

  2. #62
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    Quote Originally Posted by bullman
    Lumiere looks really dead. Developer holding on to 50 units waiting/dreaming to launch at 2500 psf up. Units are asking 1900-2200psf depending on floor but no takers. The actual rental is not as fantastic as portrayed by agents earlier before TOP.

    A 506 sqft stack 4 studio at 950k - 1.1 mil with a rental of $3500 to $4000 translate to a yield of 4- 4.5%? Thats already pro forma numbers since other developments like Clift have not come online. The original buyers and some buyers in the downturn in early 09 will be able to enjoy 6% or more yield. Not those sub sale guys.
    4-4.5% yield not too bad mah rite? i actually expect lumiere prices to go up to 2.1-2.2kpsf after TOP...but...lol...isit due to redevelopment of marina hse which is right in front?

    i am also holding on and dreaming

  3. #63
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    Quote Originally Posted by luzman
    Lumiere a better buy?? you must be kidding me...cos as mentioned, if it is good..it should be fully sold....but there are still units available...
    What I mean is you can rent it out as residential or office, pretty wide coverage.

  4. #64
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    Quote Originally Posted by devilplate
    4-4.5% yield not too bad mah rite? i actually expect lumiere prices to go up to 2.1-2.2kpsf after TOP...but...lol...isit due to redevelopment of marina hse which is right in front?

    i am also holding on and dreaming
    4 - 4.5% is fine depending on what is the exit strategy. If buy for long term rental yield then its quite pathetic. If holding on for capital gain in near future then its acceptable. But at the buy in prices now at 1.9 to 2.1k psf, not much meat left for capital gain. Maybe another 200-300 psf gain? Given the small sizes of the units, 500-700 sqft, not much quantum gain also. After the BSD, SSD, Legal Fees, Bank penalty, Agent Comm, lucky to make 50-100 k?

    If you enter at around 1700 psf, the yield should be 5%? Thats ok IMO. Maybe I am too used to 6+ % yield. Frankly, I think there is some resistance at the 2.2k psf mark, buyers are unwilling to pay that kind of prices although they will happily pay 2.4k psf up for the Freehold RS. From my observation, the clift has also hit such a resistance, things may change when it TOPs but I doubt so.

  5. #65
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    Quote Originally Posted by shauntanzs
    What I mean is you can rent it out as residential or office, pretty wide coverage.
    Hi Shaun,

    Regardless of whether you rent out as a residential or office, does the rental really differ by much? I think what you meant was to reach out to a larger pool of tenants? Given the small unit sizes, office usage is limited to maybe fund managers working the graveyard shift?

  6. #66
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    I hear some lumiere units rented out at 4k/m. Isn't it about the same as Sail?

    Now 2.2k psf is overpriced. Some Sail units are going at 2k psf only.

    From propertyguru, clift, sail, 1shenton n lumiere all about the same psf. Why wouldnt anyone choose Sail instead??

    1shenton is all blocked. Clift n lumiere has better view but "feel" slightly lower class. Sail is slightly "old" and huge 1000 over units. So given 2k psf, which project represent value???

  7. #67
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    Quote Originally Posted by shauntanzs
    I hear some lumiere units rented out at 4k/m. Isn't it about the same as Sail?

    Now 2.2k psf is overpriced. Some Sail units are going at 2k psf only.

    From propertyguru, clift, sail, 1shenton n lumiere all about the same psf. Why wouldnt anyone choose Sail instead??

    1shenton is all blocked. Clift n lumiere has better view but "feel" slightly lower class. Sail is slightly "old" and huge 1000 over units. So given 2k psf, which project represent value???
    We should not be confused with Properties in district 1 and district 2...

  8. #68
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    It's just like people always compare Citylights & Southank cos they are so near even if they are in diff district

  9. #69
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    Quote Originally Posted by shauntanzs
    It's just like people always compare Citylights & Southank cos they are so near even if they are in diff district
    Wow..like that also can compare ah...u mean Novena and Balestier can compare???

  10. #70
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    Quote Originally Posted by luzman
    Wow..like that also can compare ah...u mean Novena and Balestier can compare???
    U didn't read other thread? Vista D12 vs Cube8 D11. Southbank D7 vs CL D8. And so on...

    U can check how much vista is now, 1450psf, same as 368 Thomson liao loh...

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