View Full Version : Cardiff Court to be up for collective sale on Tuesday
Cardiff Court to be up for collective sale on Tuesday (http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1089216/1/.html)
By Georgina Joseph | Posted: 25 October 2010 1554 hrs
http://www.channelnewsasia.com/imagegallery/store/phpU1PAAK.jpg
SINGAPORE: Cardiff Court, a huge D-19 site located near Lorong Chuan and Serangoon MRT station, will be launched for collective sale on Tuesday.
The property is expected to fetch around S$25 million.
This works out to owners getting between S$700,000 and S$1.45 million, depending on the size of their unit.
The 43,490.9 square feet site has 72 years of its lease left, and is zoned for Residential use.
The site has a gross plot ratio of 1.4 and an allowable height of up to 5 storeys.
Meanwhile, its potential gross floor area is 60,887.2 square feet.
This means that the new condominium development could have about 96 apartments with each unit measuring about 600 square feet.
The new condo project is expected to fetch about S$1,100 per square foot when it is launched.
The Tender will close on the 18th of November.
-CNA/ac
proud owner
25-10-10, 21:35
Cardiff Court to be up for collective sale on Tuesday (http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1089216/1/.html)
By Georgina Joseph | Posted: 25 October 2010 1554 hrs
http://www.channelnewsasia.com/imagegallery/store/phpU1PAAK.jpg
SINGAPORE: Cardiff Court, a huge D-19 site located near Lorong Chuan and Serangoon MRT station, will be launched for collective sale on Tuesday.
The property is expected to fetch around S$25 million.
This works out to owners getting between S$700,000 and S$1.45 million, depending on the size of their unit.
The 43,490.9 square feet site has 72 years of its lease left, and is zoned for Residential use.
The site has a gross plot ratio of 1.4 and an allowable height of up to 5 storeys.
Meanwhile, its potential gross floor area is 60,887.2 square feet.
This means that the new condominium development could have about 96 apartments with each unit measuring about 600 square feet.
The new condo project is expected to fetch about S$1,100 per square foot when it is launched.
The Tender will close on the 18th of November.
-CNA/ac
is that pic related ??
it has more than 5 storey and yet has a plot ratio of 1.4 ?
Wild Falcon
25-10-10, 21:47
HUGE site? I recall the site was tiny leh. Anyway, so desperate until 700k to 1.45 million also enbloc ar? For those who still think 99LH is a better investment, I'm sure the asking price will be much higher had this been freehold without the lease decay.
Unbelievable. Nowadays a 43,000 sq ft site is described by CNA as "huge".
proud owner
25-10-10, 21:54
HUGE site? I recall the site was tiny leh. Anyway, so desperate until 700k to 1.45 million also enbloc ar? For those who still think 99LH is a better investment, I'm sure the asking price will be much higher had this been freehold without the lease decay.
Unbelievable. Nowadays a 43,000 sq ft site is described by CNA as "huge".
i guess they meant to say that developer can build a HUGE number of units .. :doh:
The only positive i can think of the potential en-bloc is that the place does look quite run down already.
http://www.businesstimes.com.sg/sub/news/story/0,4574,410156,00.html?
Published October 26, 2010
Cardiff Court up for en-bloc for $25m
By UMA SHANKARI
CARDIFF Court, a 43,500 sq ft leasehold site at Cardiff Grove off Lorong Chuan, is being put up for collective sale for $25 million.
The price works out to $519 per square foot (psf) of potential gross floor area, including the estimated development charges of about $6.63 million to top-up the lease to 99 years. The property currently has 72 years left on its lease.
It is zoned residential use with a 1.4 gross plot ratio (giving it a maximum potential gross floor area of about 60,887 sq ft) and has an allowable height of up to five storeys.
Around 96 apartments of about 600 sq ft each can be built on the site, estimated Sieow Teak Hwa, director of investment sales at Teakhwa Real Estate. Teakhwa Real Estate is marketing the project.
He said that based on a land cost of $519 psf, the breakeven price will be $860-$900 psf.
'Nearby 99 leasehold projects such as The Scala have recently transacted at about $1,100 psf to $1,430 psf while the Kovan Residences managed to sell above $1,000 psf,' Mr Sieow said. 'The new condo project should appeal to both home buyers and investors alike, specifically to the upper middle class Singaporeans living in the Serangoon area and foreigners looking at well located residential projects. At launch, it can be expected to achieve in excess of $1,100 psf.'
The tender for the site will close on Nov 18 at 3pm.
http://www.straitstimes.com/Money/Story/STIStory_595171.html
Oct 26, 2010
Two developments up for collective sale
By Esther Teo
http://www.straitstimes.com/STI/STIMEDIA/image/20101026/b6.jpg
CARDIFF Court, off Lorong Chuan, is being launched for collective sale today with a $25 million price tag.
The 21-unit project, on a 43,491 sq ft residential leasehold site, can be redeveloped into a project of up to five storeys.
The lease has 72 years left. The potential gross floor area (GFA) of a new project there is about 60,887 sq ft.
Marketing agent Teakhwa Real Estate said the District 19 property is expected to fetch about $25 million.
That works out to $519.50 per sq ft per plot ratio (psf ppr) - including estimated development charges of $6.63 million to top up the lease to 99 years.
At that price, the break-even price for a developer is estimated to be about $860 psf to $900 psf.
That means prices in excess of $1,100 psf can be expected at launch, Teakhwa said. About 96 apartments of about 600 sq ft each can be built, it added.
Units at nearby 99-year leasehold project Hong Leong's The Scala were recently sold for between $1,100 psf and $1,500 psf while another project in the area, Kovan Residences, has also sold above the $1,000 psf mark.
'The new condo project should appeal to both home buyers and investors alike - specifically to the upper middle class Singaporeans living in the Serangoon area and foreigners looking at well-located residential projects,' Teakhwa said.
Another development, Marine Point, a freehold 18-storey residential block at 95 Marine Parade Road, was launched for collective sale last Wednesday at an indicative price of about $110 million. Marine Point consists of 30 apartments and two penthouses on a 51,185 sq ft site. Its potential GFA is 107,489 sq ft.
This works out to about $1,116 psf ppr, including an estimated development charge of $10 million.
It can be redeveloped to accommodate about 90 to 100 apartments averaging 1,000 sq ft each, said marketing agent ERA Asia-Pacific associate director Eugene Lim.
In both cases, the requisite more than 80 per cent of owners by share value and strata floor area have signed the collective agreement.
Both tenders will close on Nov 18.
Yep, you're right about the wrong pic used on the CNA article. Below is the correct one from H88 (http://www.h88.com.sg/article/Cardiff+Court+may+sell+for+around+%2425+million/).
is that pic related ??
it has more than 5 storey and yet has a plot ratio of 1.4 ?
http://www.h88.com.sg/images/content/2010-10-27/cardiff_court_00004.JPG (http://www.h88.com.sg/article/Cardiff+Court+may+sell+for+around+%2425+million/)
Drove past, show flat being built, marketing agent setup tent giving fliers and asking to register interest as VVIP soon.
Flyer say:
By Teckhwa Real Estate Pte Ltd
"New Launch @ Cardiff Groove
163 units (1,2 and penthouse )
5mins walk to Lor Chuan MRT
High rental yield 5 %
walk to NEX, Chomp Chomp, amenities
Near prestigious & international schools
From $5XXk "
Thor teckhwah was the marketing agent 4 enbloc, they also the developer?
Plus the land so small sure super mm for 163 units
Drove past, show flat being built, marketing agent setup tent giving fliers and asking to register interest as VVIP soon.
Flyer say:
By Teckhwa Real Estate Pte Ltd
"New Launch @ Cardiff Groove
163 units (1,2 and penthouse )
5mins walk to Lor Chuan MRT
High rental yield 5 %
walk to NEX, Chomp Chomp, amenities
Near prestigious & international schools
From $5XXk "
Plus the land so small sure super mm for 163 units
Original 21 units kena enbloc, now can sell 163 units of MM..., going to be a big squeeze.., probably dig basement carpark.., max out whatever land...:doh:
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