View Full Version : Katong Park Towers
A friend of mine who resides in KPT attended an AGM on Sunday to discuss on embarking the en bloc trail.
KTP has started the ball rolling in collecting signatures.
The figure is S$300m... Will fill in the blanks once I have the details.
condoinvestor
23-08-11, 16:08
Not really the best time, but who knows, good luck anyway....
Katong Park Towers managed to eke out 80% to embark on its en bloc trail.
Will fill in the details once I have them.
Good luck..
KPT is the only 99 LH development in the Meyer road area. Can be difficult to get buyer. Meyer Place and Hawaii Tower both FH land also failed to find buyers.
KPT is the only 99 LH development in the Meyer road area. Can be difficult to get buyer. Meyer Place and Hawaii Tower both FH land also failed to find buyers.
I disagree. The fact that its the only LH in that area may tempt developer to bite. With a lower quantum, it may go en bloc. It gives a chance to those who love the area but yet cant afford to pay FH prices.
I disagree. The fact that its the only LH in that area may tempt developer to bite. With a lower quantum, it may go en bloc. It gives a chance to those who love the area but yet cant afford to pay FH prices.
Being LH means that owners not likey to get a higher price due to the cost of lease top up. This being the case, developer will not likely to offer high price. With prices at Meyer area now at all time high and the en bloc cycle possible at the end phase, it will be very challenging to get a decent deal unless owners willing to accept lower prices.
Owners have to be more realistic, knowing that time is not on their side as the 99lh decays away at in increasing rate as it gets older....
The longer they hold, the less it's worth....
this project has been fully built up
so there is no room to intersify the land usage except with more small units....
I doubt there is sea view as well
Owners have to be more realistic, knowing that time is not on their side as the 99lh decays away at in increasing rate as it gets older....
The longer they hold, the less it's worth....best is no bidder, let it depreciate to $0, govt take over the land and resell to developer with new lease. let govt earn max $$ and goes in to coffer.
best is no bidder, let it depreciate to $0, govt take over the land and resell to developer with new lease. let govt earn max $$ and goes in to coffer.
It has yet to happen, leesg123 may not be around to witness what you wish for.
I deduce that you stay in a FH pty, have a heart...
Katong Park Towers site for sale
By
Angela Teng (http://www.businesstimes.com.sg/reporter/angela-teng-0)
print (http://www.businesstimes.com.sg/print/260798) |email (http://www.businesstimes.com.sg/printmail/260798) this article
The land at Katong Park Towers at 114A Arthur Road is now for sale, said DTZ Debenham Tie Leung (SEA) Pte Ltd, the sole marketing agent for the collective sale on Tuesday.
Tender will close on November 6, 2012.
The indicative price for the subject site is priced at a range of S$330 million to S$340 million. This translates to $1,145-$1,178 per sq ft per plot ratio, including 10 per cent of balcony space, said DTZ Debenham Tie Leung.
If the developers choose not to build the balcony space, the indicative price will translate to $1,208 - $ 1,245 per sq ft per plot ratio, the agent added.
The property is located near Stadium and Mountbatten MRT Stations on the Circle Line and is surrounded by a host of retail, F&B, and entertainment establishments.
$11xx psf has included lease top up I presume?
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