258 Pasir Panjang Road

[richwang]

http://www.todayonline.com/Business/...r-en-bloc-sale

SINGAPORE - A 16-unit walk-up apartment block in Pasir Panjang has been put up for collective sale for between $26 million and $30 million in the latest addition to the en bloc revival.

The freehold site, at 252 to 258 Pasir Panjang Road, is near the future Haw Par Villa MRT Station and covers 28,263 square feet.

Under the Urban Redevelopment Authority's 2008 Master Plan, it is zoned for residential development with a gross plot ratio of up to 1.4 and an allowable height of up to five storeys.

The total gross floor area allowed is about 43,523 sq ft, after including the additional 10 per cent balcony space, according to marketing agent Credo Real Estate.

The asking price "translates to a land rate of approximately $597 psf to $689 psf on potential GFA, including balconies", said Mr Karamjit Singh, managing director of Credo.

He added that there would be no development charge. Credo said the site may be configured into about 40 apartment units with an average size of 1,000 square feet.

Ms Christina Sim, director of investment at Cushman and Wakefield, says the asking price is reasonable since the site is freehold and close to major research and educational institutions like Science Parks 1 and 2 and the National University of Singapore.

The tender closes on Sept 23.
========================
Well, 30M shared by 16 units, that works out to be 1.87M each - not eough to buy the 3 bed-room at next door Horizon Residence.

Anyway, my guess is the Developer will not build 40 units of 1000 sqft. Look at the slow selling of Horizon Residence. It is not easy to move at S$1.3M per unit (S$1300 psf)
They are likely to build 120 MM with 330 sqft each. Even it is priced at S$1500 psf, the total price is only S495K - easily sold out.
Of course, the actual unit can be 108, some 1,2,3 bed rooms. But mostly will be MM.

Let's see whether my guess is correct, and get ready to trade the property stocks of who ever wins the bid.

Thanks,
Richard

[apple3]

But a parc imperial unit just change hand the day before yesterday for 1.3mil. My only guess for the slow selling of horizon residence is it a far east project. And I got plenty of examples to back up this statement.

http://www.todayonline.com/Business/...r-en-bloc-sale

SINGAPORE - A 16-unit walk-up apartment block in Pasir Panjang has been put up for collective sale for between $26 million and $30 million in the latest addition to the en bloc revival.

The freehold site, at 252 to 258 Pasir Panjang Road, is near the future Haw Par Villa MRT Station and covers 28,263 square feet.

Under the Urban Redevelopment Authority's 2008 Master Plan, it is zoned for residential development with a gross plot ratio of up to 1.4 and an allowable height of up to five storeys.

The total gross floor area allowed is about 43,523 sq ft, after including the additional 10 per cent balcony space, according to marketing agent Credo Real Estate.

The asking price "translates to a land rate of approximately $597 psf to $689 psf on potential GFA, including balconies", said Mr Karamjit Singh, managing director of Credo.

He added that there would be no development charge. Credo said the site may be configured into about 40 apartment units with an average size of 1,000 square feet.

Ms Christina Sim, director of investment at Cushman and Wakefield, says the asking price is reasonable since the site is freehold and close to major research and educational institutions like Science Parks 1 and 2 and the National University of Singapore.

The tender closes on Sept 23.
========================
Well, 30M shared by 16 units, that works out to be 1.87M each - not eough to buy the 3 bed-room at next door Horizon Residence.

Anyway, my guess is the Developer will not build 40 units of 1000 sqft. Look at the slow selling of Horizon Residence. It is not easy to move at S$1.3M per unit (S$1300 psf)
They are likely to build 120 MM with 330 sqft each. Even it is priced at S$1500 psf, the total price is only S495K - easily sold out.
Of course, the actual unit can be 108, some 1,2,3 bed rooms. But mostly will be MM.

Let's see whether my guess is correct, and get ready to trade the property stocks of who ever wins the bid.

Thanks,
Richard

[devilplate]

actually the sales for horizon residences is quite ok...they keeping all the top flr

[gn108]

West Coast getting more active with the CCL line due to open next year.
Viva Vista - selling out their MMs, Peak@Balmag jump in asking price
and Horizon Resi selling well. FEO is slowing releasing the units - I suspect they'll release the top floor units upon opening of CCL to reap the best prices.

[richwang]

The collective sale price is higher than the top range the owners asked. Each owner will get in average S$2M. That's barely enough to buy a 3 bedder in that area now.
The site can build 40 units of 1000 sqft units, but I still bet it will be MM project (close to 100 units).

Thanks,
Richard

[rattydrama]

agree... went to their show flat before. Not only sell sell sell, they choose the right time to sell. There is an in house marketing team. Very strong in their marketing strategies...

so all huat lah

West Coast getting more active with the CCL line due to open next year.
Viva Vista - selling out their MMs, Peak@Balmag jump in asking price
and Horizon Resi selling well. FEO is slowing releasing the units - I suspect they'll release the top floor units upon opening of CCL to reap the best prices.

[rattydrama]

btw, where is the exact location any map to show?