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Thread: En Bloc 2021

  1. #1
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    Default En Bloc 2021

    https://www.tracygoh.sg/en-bloc-feve...ews-singapore/

    n Amara Holdings joint venture (JV) has agreed to acquire freehold residential development Surrey Point for S$47.8 million, the mainboard-listed property developer and hotelier said in a bourse filing on Thursday evening.

    Located at 2 Surrey Road in Newton, the 10-storey building with nine residential units was launched for collective sale via public tender in January 2021 with a guide price of S$55 million.

    Sole marketing agent SRI Capital Market said then that the guide price worked out to a land rate of about S$1,661 per square foot per plot ratio (psf ppr), based on the total site area of 11,977 square feet (sq ft) and gross plot ratio of 2.8, inclusive of development charge.

    https://www.businesstimes.com.sg/rea...lOw9wbVqwta1ik
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    Default Re: En Bloc 2021

    Separately, a trio of freehold, three-storey residential properties at 2, 4 and 6 Mount Emily Road has changed hands for S$18 million.

    This is the first collective sale in Singapore in 2021, Edmund Tie & Co told BT.

    The buyer is ZACD Group, a Hong Kong-listed, Singapore-headquartered integrated asset manager.

    The three adjoining buildings sit on a total site area of about 5,549 sq ft with an existing gross floor area of some 16,138 sq ft. The site is zoned for residential use with a 2.1 plot ratio, under the Urban Redevelopment Authority's Master Plan 2019.

    The sale price of S$18 million reflects a land rate of S$1,115 psf ppr, with no development charge payable due to the high development baseline, said Swee Shou Fern, executive director of investment advisory at Edmund Tie.

    https://www.tracygoh.sg/2021/mount-e...-en-bloc-sold/



    Surrey Point (left) was sold to an Amara joint venture for S$47.8 million, while 2, 4 and 6 Mount Emily Road (right) changed hands for S$18 million in this year's first en bloc deal. PHOTOS: SRI, EDMUND TIE
    The Best Time to buy Property is YesterDay.
    If you lose Money it because you sell on a wrong Day.

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    https://wincondo.propnex.com/registe...RNMFJVSXlSVVZG

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    Default Re: En Bloc 2021

    Amara Holdings has entered into an agreement to acquire Surrey Point, a freehold 10-storey apartment block at a purchase price of $47.8 million, or $1,332 psf based on maximum allowable gross floor area (GFA).
    The development consists of nine residential units at the junction of Surrey Road and Newton Road. The land plot measuring 11,977 sq ft is zoned for residential use with an allowable gross plot ratio of 2.8. The maximum permissible gross floor area is 35,882 sq ft, inclusive of an additional 7% bonus gross floor area at the balconies. This means that the land plot can yield 36 units with an average size of 915 sq ft.
    The property can also be converted to serviced apartments or co-living apartments, subject to the approval of authorities.
    Surrey Point is within a five-minute drive to Orchard Road and within a five-minute walk to Novena Square, United Square, Courtyard by Marriott Hotel, Royal Square, Goldhill Shopping Centre and Novena Medical Hub. Newton MRT Interchange Station is also 500m away.
    Schools in its proximity include Anglo-Chinese School (Primary), Anglo-Chinese School (Junior), St. Joseph’s Institution Junior, Singapore Chinese Girls’ School and St. Margaret’s Primary School.
    The development was put up for collective sale via a public tender exercise with an initial guide price of $55 million ($1,532 psf based on maximum allowable GFA). The collective sale achieved the consensus of all the owners. No strata board title application is required.

    https://www.edgeprop.sg/property-new...jh01w.whatsapp
    The Best Time to buy Property is YesterDay.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://wincondo.propnex.com/registe...RNMFJVSXlSVVZG

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

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    Default Re: En Bloc 2021



    https://www.edgeprop.sg/property-new...8ZxM2bLr276xgc

    Kai Fook Mansion, a property sitting on a 9,999 year leasehold site measuring 15,896 sq ft, has been put up for collective sale through public tender by sole marketing agent Huttons Asia. The asking price is $123 million.
    The Best Time to buy Property is YesterDay.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://wincondo.propnex.com/registe...RNMFJVSXlSVVZG

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

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    Default Re: En Bloc 2021

    PRE-APPLICATION FEASIBILITY STUDY (PAFS)

    For instance, let's look at a Pre-Application Feasibility Study (PAFS) that might need to be submitted to the Land Transport Authority (LTA) for collective sale proposals.

    In Outline Applications and Development Applications, following the collective sales of residential properties typically result in a significant increase in the number of dwelling units (DUs) being proposed over existing ones. This may strain existing road networks and lead to congestion and disamenities for residents in the area.

    To address these issues early, real estate agencies (acting on behalf of collective sale owners) consult LTA and may conduct a PAFS, if so required by LTA. Should LTA deem that a PAFS is required for the subject property, a traffic consultant would be engaged to assess the transport impact and recommend a development proposal with an estimation on the supportable number of dwelling units for the potential new development.

    A PAFS is currently only applicable to collective sale sites, and does not apply to single-owner land parcels. Moreover, the criteria for when a PAFS is required is unclear. There have been instances where different developments in the same area yielded different verdicts from LTA.

    Perhaps the criteria for when a PAFS is required should be determined by the proposed number of DUs in the new development and/or the category of the roads in the vicinity which lead to the development. Perhaps the LTA can be clearer as to when PAFS is required and when it is not. Additionally, the process of conducting a PAFS is often long-drawn, sometimes spanning over 15 months. To coincide a PAFS approval and a collective sale, which is subject to strict legal timelines, can be a real challenge.

    It would probably be more efficient and practical if an in-principle approval can be granted after broad guidelines and concerns are covered, leaving smaller details to be settled at a later stage.
    The Best Time to buy Property is YesterDay.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://wincondo.propnex.com/registe...RNMFJVSXlSVVZG

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

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