joe
14-05-07, 14:45
Singapore’s largest en-bloc deal ready
Posted: 14 May 2007 1342 hrs
http://img179.imageshack.us/img179/9435/phpfup6pjd56bbil6.jpg
Farrer Court en-bloc sale
Farrer Court has just been put up for sale by tender in what could be Singapore’s largest en-bloc deal in terms of land area, the number of units and the buildable gross floor area (GFA).
According to the real estate agency leading the sale more than 80% of the owners have inked their consent to the collective sale.
The 618-unit Farrer Court is expected to fetch an en bloc sale price in the region of $1.5 billion.
Based on the current land area of approximately 838,488 sq ft and a gross plot ratio (GPR) of 2.8 permitted under the current 2003 Master Plan, the area could be redeveloped into Singapore's largest condominium site with some 1,800 apartments in blocks that can go up to 36 storeys.
Leedon Heights, a large neighbouring collective sale site allowed up to 12 storeys, was sold for S$1,062 psf/pr to GuocoLand last month while, the Himiko Court further away at Mount Sinai was sold for $821 psf/pr to SingLand. -CNA/sf
Posted: 14 May 2007 1342 hrs
http://img179.imageshack.us/img179/9435/phpfup6pjd56bbil6.jpg
Farrer Court en-bloc sale
Farrer Court has just been put up for sale by tender in what could be Singapore’s largest en-bloc deal in terms of land area, the number of units and the buildable gross floor area (GFA).
According to the real estate agency leading the sale more than 80% of the owners have inked their consent to the collective sale.
The 618-unit Farrer Court is expected to fetch an en bloc sale price in the region of $1.5 billion.
Based on the current land area of approximately 838,488 sq ft and a gross plot ratio (GPR) of 2.8 permitted under the current 2003 Master Plan, the area could be redeveloped into Singapore's largest condominium site with some 1,800 apartments in blocks that can go up to 36 storeys.
Leedon Heights, a large neighbouring collective sale site allowed up to 12 storeys, was sold for S$1,062 psf/pr to GuocoLand last month while, the Himiko Court further away at Mount Sinai was sold for $821 psf/pr to SingLand. -CNA/sf