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View Full Version : LAND PARCEL AT AMK AVE 2



Pro888
08-01-13, 20:18
With overwhelming response of 12 bidders, top bid came in $790psf land price. Selling should be above $1200psf.

Tek888
08-01-13, 20:38
With overwhelming response of 12 bidders, top bid came in $790psf land price. Selling should be above $1200psf.

Personally, I feel that location is not bad. It is on top of a hill should have good geomancy I guess :) A big plus is proximity to future Mayflower MRT that should be just a short walk away ~350m.

I have a feeling the psf will be 1400 upwards.

azeoprop
08-01-13, 20:43
Faint...so ex. :scared-1: :scared-3: :scared-4:

Pro888
08-01-13, 20:48
Yup! Nothing will come cheap when near mrt plus St. Nicholas Girls' school across the street. Price, take reference to Thomson Grand. :D

kane
08-01-13, 20:48
it is actually below the street level on one side.

Kanarazu
08-01-13, 20:59
Bartley residences $620psf selling $1250, so this one looks like $1400 really highly plausible.

azeoprop
08-01-13, 21:03
Where will be a cheap next to mrt site now?!

la fiesta will be the last 550k next to mrt? :scared-3:

buttercarp
08-01-13, 21:11
http://www.ura.gov.sg/pr/graphics/2012/Appendix1-CL-10.pdf

https://pbs.twimg.com/media/BAF8rcFCIAA9My2.jpg

phantom_opera
08-01-13, 21:17
TM Keppel bid 790psf also ... this one fully priced in future MRT

star
08-01-13, 22:15
Bartley residences $620psf selling $1250, so this one looks like $1400 really highly plausible.

Wow will it also push up the HDB flat price there too?
Wah if $1400 centro residence now looks cheap...

Kanarazu
08-01-13, 22:32
Wow will it also push up the HDB flat price there too?
Wah if $1400 centro residence now looks cheap...

No reason that I can think of that will benefit the HDB prices nearby.

Btw the developer is wheelock.. Have they developed any properties recently?

kane
08-01-13, 23:24
No reason that I can think of that will benefit the HDB prices nearby.

Btw the developer is wheelock.. Have they developed any properties recently?

wheelock's been out of action for a while. The last one they did was Sea View outside of the Ardmore area. wheelock doing OCR projects?? This will be interesting, although the price could be even more "interesting".

august
09-01-13, 00:23
i reckon they will sell $1500psf.

kane
09-01-13, 00:27
i reckon they will sell $1500psf.

And their selling point is? Within 300m of St Nics? It's quite a walk to the kebun bahru mrt station actually. I salute the buyers who will set a new benchmark for the vicinity.

DC33_2008
09-01-13, 07:44
Developers are still positive. Capitaland likes land near good school, just like in Bishan. Too bad lost out here.

bargain hunter
09-01-13, 09:17
"We see great potential in this choice site being next to St Nicholas Girls' School and the future Mayflower MRT station," said Tan Bee Kim, senior executive director at Wheelock Properties (Singapore).

Lee Sze Teck, senior manager for training, research and consultancy at DWG, noted that Wheelock has "rarely ventured into the suburban areas" and are usually known for their upmarket freehold condominiums in prime areas.
Should Wheelock be awarded the Ang Mo Kio site, it will be just the developer's third development in the suburbs, after Parc Oasis and the Sea View. It will also just be Wheelock's second non-freehold property after Parc Oasis.

Wheelock's bid translated to an absolute sum of just over $550 million, compared with the second highest offer of $536.2 million, or $770.08 psf ppr, from CapitaLand unit Athens Residential Development.








No reason that I can think of that will benefit the HDB prices nearby.

Btw the developer is wheelock.. Have they developed any properties recently?

Shanhz
09-01-13, 09:21
anybody familiar with wheellock? parc oasis seems to hold very well for a 20 yr ppty in terms of upkeep and quality. does the credit go to MC or wheellock?

Laguna
09-01-13, 09:53
early Feb 2013, the parcel at Tanan Marah will be closed
look like $900 psf ppr is possible at the rate that GLS is going

Wild Falcon
09-01-13, 10:12
Is this very near to Mayflower MRT station? At first I was wondering how can so hot when not near MRT? Now I know...

Don't think $900psf is possoible for Tanah Merah lah. At least AMK quite close to town. Tanah Merah is like far eastern end liao.


early Feb 2013, the parcel at Tanan Marah will be closed
look like $900 psf ppr is possible at the rate that GLS is going

chiaberry
09-01-13, 10:18
Near Mayflower MRT and next to St. Nic's. But no mall and not much amenities within walking distance (HDB shops only).

Main selling points will be MRT and school. But will be so many people balloting....:doh:

If launching at 1500psf it will make Thomson Grand look like a bargain and Sky Habitat will benefit too.

Thomson Line is a good route to Orchard Rd/Shenton Way/MBFC and to the North (possibly JB) in the future.

Tanah Merah is far from city centre unless you are working in the East.

bargain hunter
09-01-13, 10:26
wheelock been developing prime properties most of the time. ardmore park remains a landmark in prime despite being close to 20 years too. the same can be said of the newer grange residences.

i cannot recall them building small units though. their recent smallest is probably at 600+ sq ft 1 bedder at scotts square. will be interesting to see if they will build 1 bedders below 500 sq ft. hopefully they can prove that its possible to maintain quality while making money hahaha.



anybody familiar with wheellock? parc oasis seems to hold very well for a 20 yr ppty in terms of upkeep and quality. does the credit go to MC or wheellock?

cnud
09-01-13, 10:37
They will launch comparable to Capland's Bishan St 14. You think how much leh? Don't expect to be lower than 1500..

bargain hunter
09-01-13, 14:08
given that wheelock has no other landbank in singapore (except ardmore 3, which is already work in progress), i wonder if they will turn around this site real fast (since they have nothing much to do anyway). :D

Rysk
09-01-13, 14:26
They will launch comparable to Capland's Bishan St 14. You think how much leh? Don't expect to be lower than 1500..
It says.. "The project will be ready for launch in six to nine months’ time. In anticipation of latent demand, the sale price is anticipated to be S$1,500 psf or more.” :scared-1:

http://www.propertyguru.com.sg/property-management-news/2013/1/34981/ura-receives-12-bids-for-ang-mo-kio-site

Ringo33
09-01-13, 14:44
wheelock's been out of action for a while. The last one they did was Sea View outside of the Ardmore area. wheelock doing OCR projects?? This will be interesting, although the price could be even more "interesting".

I think wheelock was also trying to the JLD site, but lost it to MCL.

phantom_opera
09-01-13, 14:53
right now CCR is sleepy, all the high end developers now no fish prawn also good .... Keppel Land at Tanah Merah ... Wheelock at Ang Mo Kio, who is next?

bargain hunter
09-01-13, 15:52
sc global at punggol? hahahahahahaha


right now CCR is sleepy, all the high end developers now no fish prawn also good .... Keppel Land at Tanah Merah ... Wheelock at Ang Mo Kio, who is next?

bargain hunter
09-01-13, 15:54
yes, they also tried for one more site i think, forgot whether it was jervois or farrer. they bid too low for those. but this one is quite nice, beat capland by such a thin margin and with 5 other big players + the fragrance/aspial jv all bidding at 700psf or more.


I think wheelock was also trying to the JLD site, but lost it to MCL.

Pro888
09-01-13, 17:39
right now CCR is sleepy, all the high end developers now no fish prawn also good .... Keppel Land at Tanah Merah ... Wheelock at Ang Mo Kio, who is next?

If they're still on the sideline :scared-5: , they will MTB :banghead: .

ecimbew
09-01-13, 18:26
http://www.ura.gov.sg/pr/graphics/2012/Appendix1-CL-10.pdf

https://pbs.twimg.com/media/BAF8rcFCIAA9My2.jpg

Credit
http://www.skyscrapercity.com/showpost.php?p=98934985&postcount=3391
http://i49.tinypic.com/o937gi.png


http://i50.tinypic.com/10naj50.png

http://i49.tinypic.com/2v8sv4j.png

http://i50.tinypic.com/jqj5ax.png

kane
09-01-13, 21:24
must go drop by the showroom to see what is wheelock's standard.

mantrix
09-01-13, 21:27
Tanah Merah is ex because of proximity to airport and CBP (especially) hence rental yields can justify the price point.

AMK is just outside RCR and with the school, I think there would still be buyers. However it is 8 stations to Orchard and another 5 to Shenton Way. If you use Centro (beside AMK station) for comparison, it's 6 stations to Orchard and another 4 stations to Raffles Place.

I think 1500psf for a condo here is a safe starting point with Centro fetching past 1700psf...and this will likely drive condos in AMK past the point of no return (with exception of Centro IMO)

kane
09-01-13, 21:52
Tanah Merah is ex because of proximity to airport and CBP (especially) hence rental yields can justify the price point.

AMK is just outside RCR and with the school, I think there would still be buyers. However it is 8 stations to Orchard and another 5 to Shenton Way. If you use Centro (beside AMK station) for comparison, it's 6 stations to Orchard and another 4 stations to Raffles Place.

I think 1500psf for a condo here is a safe starting point with Centro fetching past 1700psf...and this will likely drive condos in AMK past the point of no return (with exception of Centro IMO)

are they already trying to manage the expectations that the psf is going to be around 1500psf??

it's quite a walk to the nearby market and the future MRT station. like someone pointed out earlier, there's no nearby mall. 1500psf? are they for real? being near St Nics is really not going to count for much because 1km also need to ballot, whether it is phase 2b or 2c.

mantrix
09-01-13, 22:16
are they already trying to manage the expectations that the psf is going to be around 1500psf??

it's quite a walk to the nearby market and the future MRT station. like someone pointed out earlier, there's no nearby mall. 1500psf? are they for real? being near St Nics is really not going to count for much because 1km also need to ballot, whether it is phase 2b or 2c.

i think it's their tactic - announce it's expected to be around 1500psf and see how many blank cheques they can collect. If interest is insufficient before launch then they will adjust. But I say safe because of Wheelock's reputation and the current psf levels of Centro, TG and Sky Habitat. Still it's anybody's guess.

Agree on the lack of amenities but who knows with the MRT things may change...i think they are going to bank on the view and the MRT proximity.

Of course still way overpriced for people like me :D

Shanhz
10-01-13, 08:43
must go drop by the showroom to see what is wheelock's standard.

can i ask a newbie question? what makes buyers think that showroom quality good = actual product good? if i am devp, i will spend a lot of $$$ on the showroom, but not necessary equate to final product

taggy
10-01-13, 08:59
can i ask a newbie question? what makes buyers think that showroom quality good = actual product good? if i am devp, i will spend a lot of $$$ on the showroom, but not necessary equate to final product
i think seasoned buyers go showflat will differentiated between interior design and what stuffs the developer will give... like what tiles, toilet accessories, wardrobe, kitchen accessories... and also to see the layout.

so maybe can expect more quality high end accessories from wheelock ? :D

Shanhz
10-01-13, 09:12
i think seasoned buyers go showflat will differentiated between interior design and what stuffs the developer will give... like what tiles, toilet accessories, wardrobe, kitchen accessories... and also to see the layout.

so maybe can expect more quality high end accessories from wheelock ? :D

thanks for the explanation. but i beg to differ. i think showroom is used to bluff newbies. i am not season investor, but for me, i can visualise using floorplan. tiles etc, if unit selling cheap, can always spend some $ on reno. if unit selling sky high, i will feel they use good material but make 200% margin, bo hua. so what's the use of the showflat?

there's only 1 thing i find useful there, which is the model of the whole development. that one cannot visualise on paper.

mantrix
10-01-13, 09:18
it's just marketing. FEO does that super well.

cnud
10-01-13, 09:33
St Nic is definitely a plus point. Secondary school going kids have parents who are likely to have paid their HDB full or are likely to be financially mobile.

The confirmed future MRT is very near. 1500 is palatable.

kane
10-01-13, 21:46
can i ask a newbie question? what makes buyers think that showroom quality good = actual product good? if i am devp, i will spend a lot of $$$ on the showroom, but not necessary equate to final product


go check out ardmore and the sea view.

star
11-01-13, 01:19
St Nic is definitely a plus point. Secondary school going kids have parents who are likely to have paid their HDB full or are likely to be financially mobile.

The confirmed future MRT is very near. 1500 is palatable.
Yes another thing to note is St Nic is primary and secondary schools.

kane
11-01-13, 07:19
If your dauggter is already studying there, maybe it might justify getting a home there. But if you're trying to be within 1km, it's going to be a very long and lucky shot.

Shanhz
11-01-13, 07:57
go check out ardmore and the sea view.

good quality? sorry.. dun intend to waste agent's time. :)

kane
11-01-13, 08:08
good quality? sorry.. dun intend to waste agent's time. :)

Very good.

Shanhz
11-01-13, 08:11
Very good.

hmm.. noted. thanks. :)
any idea abt parc oasis?

kane
11-01-13, 08:14
hmm.. noted. thanks. :)
any idea abt parc oasis?

Haven't been in that one.

Pro888
11-01-13, 16:37
From DMG

After a long hiatus from land purchases, Wheelock Properties
yesterday announced that it has successfully clinched a leasehold 99-year
residential site at Ang Mo Kio Ave 2 for S$550m. The site, located next to St
Nicholas Girls' School and the future Mayflower MRT station with an allowable
gross floor area of 696,302 sf, attracted a total of 12 bids. Wheelock’s tender price
works out to S$790 psf ppr and we estimate a $0.15/share accretion to NAV
assuming breakeven of $1,250 psf and a selling price of $1500-1600 psf. This site
acquisition is timely, given the group’s depleting landbank in Singapore, currently
comprising of Ardmore Three and unsold units at Scotts Square. It also signals a
broadening of the group’s focus on the prime residential districts to strategically
located leasehold sites in suburban locations. Flushed with cash from the
progressive collection of sale proceeds of Scotts Square, Wheelock’s cash
position swelled to over S$1b earlier last year. It has since deployed over $300m
to invest in financial assets and recently raised its stake in SC Global from 16.07%
to 17.9% through open market purchases. We believe more active deployment of
its capital could serve to narrow the stock’s current discount of 29% from its NAV
of $2.86/share

mantrix
11-01-13, 20:54
Well good luck to them now!!!

kane
11-01-13, 22:08
Well good luck to them now!!!

shave 7-10% of their margins lor. heh.

adrianmtsg
12-01-13, 05:17
Not sure if ave $1400psf is a good buy but I do know the only people stands to gain with this are residents from Horizon Garden and Horizon Green.

That area classified under Thomson Hill are mainly landed houses with only 2 cluster development. Very nice environment though.

mantrix
12-01-13, 07:56
if impact of the new CM hits this project badly they too will be affected. Simply because they are cluster terrace and the high quantum is too much to bear what with the ABSD and 7% tax.

adrianmtsg
13-01-13, 06:14
That is true, ABSD will affect ALL property buyer. But do a check on these cluster current psf. Still has room to grow. Also, cluster houses target on a specific buyer group. Its higher quantum are for those big family who prefer hybrid of condo/landed. Its rental yield are relatively higher due to expats' favor.

mantrix
13-01-13, 16:05
U are vested, yes? There is a reason for the low psf. 99LH , lack of amenities and connectivity. Family-oriented buyers, unless their daughters are confirmed in St Nic, would not really want this but i am digressing. Let's go back to the 1500psf land parcel and see how it turns out.

bargain hunter
16-01-13, 20:58
wheelock sells its stake in sc global to simon cheong for 1.80 afterall.

i guess a good thing for this ang mo kio site is:

"In light of recent market developments, the Company has decided to dispose of its entire
holding of SC Global Shares.
As the Company has just been awarded a large residential site in Ang Mo Kio Avenue 2
for about 600 residential units, the Company would be focusing its attention to make it
one of the most distinctive homes in the Ang Mo Kio area."

:)

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_F9AF6D2E7B4B782648257AF500442E15/$file/WPSL_ANN_SCG.pdf?openelement

bargain hunter
16-01-13, 21:04
the group would get $133.5m in cash from simon cheong for selling the stake. this would increase their cash and cash equivalents after netting off ALL debt to 1.05b. even if they paid for this 550m site in full cash (which of course they won't), they would still have 500m in cash.

kane
17-01-13, 22:04
the group would get $133.5m in cash from simon cheong for selling the stake. this would increase their cash and cash equivalents after netting off ALL debt to 1.05b. even if they paid for this 550m site in full cash (which of course they won't), they would still have 500m in cash.

wheelock has deep pockets.

CondoInterested
19-01-13, 19:52
It is currently a vacated old school, right?

kane
19-01-13, 21:25
It is the grass patch next to the vacated school.

Noexit
20-08-13, 21:48
The showroom building now next to grandeur 8 is this for this project ? :tongue3:

kane
20-08-13, 22:51
is that even a showroom they are building next to grandeur 8?

tahoo
21-08-13, 16:43
I was on the site a few days back.
The developer has already fenced up the place.

Wonder when they will start selling?


And what so many cooling measures and financing restrictions? Can they really sell ... 600 over units.

Pro888
21-08-13, 18:28
I was on the site a few days back.
The developer has already fenced up the place.

Wonder when they will start selling?


And what so many cooling measures and financing restrictions? Can they really sell ... 600 over units.

Centro Residences was torn down only a few months back at this exact place. By looking at the progress, most likely launch in Oct and it wldnt be cheap. Avg $1400 - $1500psf. Highest might touch $1600+psf

kane
22-08-13, 00:27
that isn't such a plum plot ah, if sell for $1600psf, it's going to be a bit exaggerated.

sunboy77
25-08-13, 23:42
The land price is more expensive than that of Echelon at Redhill, and Echelon has already touched $2330psf for a one-bedder. We do the math....