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View Full Version : Residenza buys Camay Court for S$30.5m



sleek
19-01-11, 21:44
Camay Court put up for sale (http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1105664/1/.html)
Posted: 19 January 2011 1722 hrs
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SINGAPORE : Camay Court, a freehold residential redevelopment site in District 15, has been put up for sale.

It currently comprises 23 walk-up apartments, with unit sizes ranging from 114 square metres to 131 square metres.

Marketing agent Knight Frank said the site, situated in a residential enclave along Lorong M Telok Kurau, has a land area of 2,966 square metres.

The 2008 Master Plan has designated the site for residential use at a plot ratio of 1.4.

Camy Court is located near shopping amenities such as Kembangan Plaza, Siglap Shopping Centre and Katong Mall, as well as schools such as St Patrick's School, CHIJ Katong and Tao Nan School.

"The Camay Court site has the potential to be redeveloped to about 61 units of boutique apartments at an average size of 800 sq ft per unit," said Ian Loh, Knight Frank's associate director of investment.

"The average selling price for the new development is expected to be at least around S$1,400 psf," he added.

Knight Frank said the guide price for the property is S$32 million, which translates to a land price of S$689 per sq ft (psf) based on the potential gross floor area of approximately 49,172 sq ft, inclusive of an additional 10 per cent balcony.

The tender will close on March 1 at 3.00pm.

- CNA/al

mr funny
20-01-11, 16:34
http://www.businesstimes.com.sg/sub/suite/story/0,4574,422629,00.html?

Published January 20, 2011

Telok Kurau's Camay Court up for tender

Guide price is $32m, site has boutique apartment potential


CAMAY Court, a smallish apartment project in the Telok Kurau area, has been put up for sale by public tender with a guide price of $32 million, or about $689 per square foot per plot ratio.

Marketing agent Knight Frank said yesterday that the district 15 site is located in a quiet residential enclave along Lorong M Telok Kurau.

Under the 2008 Master Plan, the freehold site is zoned for residential use with a plot ratio of 1.4 which translates into potential gross floor area of about 49,172 square feet, inclusive of an additional 10 per cent balcony.

Camay Court has a land area of some 31,930 sq ft and currently houses 23 residential walk-up apartments with unit sizes ranging from 1,227 sq ft to 1,410 sq ft.

It is located within close proximity to food and shopping amenities such as Kembangan Plaza, Siglap Shopping Centre, Parkway Parade Shopping Centre, Katong Mall and Katong Plaza.

The property is also within one kilometre of established schools such as Saint Patrick's School, CHIJ Katong and Tao Nan School.

Knight Frank said that the Camay Court site can potentially be redeveloped to about 61 units of boutique apartments at an average size of 800 sq ft per unit.

Ian Loh, associate director of investment for Knight Frank, expects the average selling price for the new development to be at least $1,400 psf.

Knight Frank is the sole marketing agent for Camay Court. The tender will close on March 1 at 3pm.

sleek
11-03-11, 23:40
Residenza buys Camay Court for S$30.5m (http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1115844/1/.html)
Posted: 11 March 2011 1915 hrs
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Camay Court

SINGAPORE : Camay Court, a freehold residential redevelopment site in Lorong M Telok Kurau, has been sold to Residenza Pte Ltd for S$30.5 million.

Residenza is a consortium of property developers Heeton Holdings, KSH Holdings and contractor TEE International.

The consortium also acquired Macpherson Green, another residential development, with Zap Piling just a day earlier.

Camay Court's marketing agent Knight Frank said all of its residents have agreed to the collective sale and no application to the Strata Titles Board was required.

The deal translates to a land price of S$687 per square foot per plot ratio, including development charge, and based on the gross floor area of about 44,702 square feet.

Heeton will hold a 36 per cent equity stake, while KSH and TEE International will each own 32 per cent of the project.

The site can be redeveloped into 70 apartments with an average size of 650 square feet each.

Residenza may also develop the site into cluster housing, due to increasing demand for landed housing in the area.

Camay Court comprises 23 walk-up apartments and is located in District 15. It has a site area of about 31,930 square feet, with a plot ratio of 1.4.

Units range from 114 square metres to 131 square metres, or 1,227 square feet to 1,410 square feet.

The site is located one kilometre away from prestigious schools like Tao Nan School, Saint Patrick's School and CHIJ Katong, said Knight Frank.

Heeton added that Camay Court is also a short walk from Kembangan MRT Station, Parkway East Hospital, Telok Kurau Park and East Coast Park.

Shopping malls like Parkway Parade Shopping Centre, Katong Mall and Siglap Shopping Centre are also nearby, said Knight Frank.

- CNA/al