The Springbloom @ Serangoon Ave 3

DESCRIPTION / DETAILS

Address: 139- 145 Serangoon Avenue 3



Type of Development : High Rise Condominium



Tenure: 99 years



District: 19



No. of Units: 372



Year of Completion: 1999



Developer: MCL Land (Serangoon) Pte Ltd



Unit sizes:
Studio: 83 - 108 sq m
2 bedrooms: 104 - 149 sq m
3 bedrooms: 121 - 181 sq m


Springbloom is located along Serangoon Avenue 3 which is near the HDB housing estate of Serangoon Central.


Springbloom is within 5 minutes walk to Australian School, New Tech Park and within 10 minutes walk to Serangoon MRT station. Residents who drives can access the Central Expressway (CTE) to all parts of Singapore, driving to the city takes around 10 minutes.


Location Map




FACILITIES AT THE SPRINGBLOOM

• Lap pool
• Children pool
• Gymnasium
• Tennis courts
• Squash courts
• Basketball Court
• Children's playground
• Fitness stations
• BBQ pits
• Function room
• Basement car park

Condition like new! Huge & beautiful! Quiet facing! Must see!

High Floor with beautiful city & partial pool view.

Australia International School, MRT & New Tech Park within walking distance.

Fully furnished. Immediate move-in. Call for viewing now.

Location Map

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15 bids received for residential site at Serangoon Aveune 3
Channel NewsAsia
Wednesday, 7 October 2009, 1900 hrs

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The Urban Redevelopment Authority (URA) received 15 bids at the close of the tender for the residential site at Serangoon Avenue 3 on Wednesday.

The site, which was originally on the Reserve List of the Government Land Sales Programme, was launched for public tender on September 9. The 99-year leasehold site has an area of about 13,877 square metres and a maximum permissible gross floor area of 38,857 square metres.

Intrepid Investments submitted the highest bid of S$221.2 million, followed by Tuas Hi-Tech Park at S$195.9 million and Keppel Land at S$190 million. The lowest bid of S$120 million came from Lippo Estates.

Li Hiaw Ho, Executive Director, CBRE Research, said: "The popularity of the Serangoon Avenue 3 site is evidenced by the 15 bids that were submitted as well as their price quantum.

"Developers are very confident of this site because it is situated next to the Lorong Chuan MRT station and is close to the Australian International School. It is also close to amenities in Serangoon Gardens and the upcoming shopping mall, nex, at Serangoon Interchange station."

CBRE said the top bid of S$221.2 million works out to S$529 per square foot per plot ratio and is 164% above the reserve price of S$83.7 million.

"This price will likely translate into a breakeven price of about S$900 psf to S$950 psf for the future condominium project to be built on this site. Based on this breakeven estimate, the possible selling price could range from S$1,000 psf to S$1,100 psf," said Li.

Recent caveats of nearby properties - The Chuan, a 999-year leasehold condo development, and the freehold Goldenhill Park - showed selling prices ranging from S$830 to S$1,000 psf, while those in the 99-year leasehold The Springbloom were selling at S$600 to S$700 psf.

URA said a decision on the award of the tender for the Serangoon Avenue 3 site will be made after the bids have been evaluated.

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罗弄泉地铁站旁私宅地段招标仍火热
李韵琳
联合早报
星期四, 8-10-2009

政府针对楼市采取的一系列降温措施，看来没有浇灭发展商高价投标新地皮的热忱。

位于罗弄泉地铁站旁的一幅共管公寓地段，是降温措施宣布后，第一个招标截止的纯私人住宅地段。该地段招标反应热烈，吸引了15方人马出手，是2007年以来政府招标出售的住宅地段当中，最多发展商竞标的地段。 2007年6月，达高轩（Dakota Residences）的所在地也曾吸引15方人马竞标。

这次出价最高的丰隆集团开出2亿2120万元的标价，即容积率每平方英尺529元，与当初“勾”地的8370万元最低保留价足足高了164％，相信是近年来差价最高的项目之一。即使是2007年和2008年，楼市高峰期期间，大多数的差价都不超过60％。

本地楼市自今年三月有起色以来，新私宅项目大多热卖，不少发展商的土地库已几乎耗尽，因此接二连三地“勾”出政府备售地段来补仓。

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位于罗弄泉地铁站旁的一幅共管公寓地段，是降温措施宣布后，第一个招标截止的纯私人住宅地段。

过去三个月以来，四个被“勾”出的政府备售地段都吸引了至少12方人马竞标。

政府自去年11月冻结了售地计划以来，第一幅被“勾”出，于7月份公开招标的策士纳路99年地契共管公寓地段，有13人马出手，最后由丰隆集团与城市发展以1亿4368万元，即容积率每平方英尺280元来拿下，标价比最低保留价格高了132％。

第二幅地段位于达高打弯和第三幅地段位于杨厝港路及实里达路交界处综合性商住地段，则分别获13和12方人马竞逐。

市场人士指出，这反映出发展商非常“饥渴”，只要是潜质的地段都宁可杀错也不可放过。

几乎所有的大型发展商都参与了四幅地段的竞标。昨天招标截止的这个实龙岗三道地段，出手第二高的远东机构开出1亿9588万元，比丰隆集团的开价低了13％。吉宝置业、星狮地产、森联集团、MCL地产、和美、职总安居、国浩置地和力宝等发展商也都榜上有名。

以丰隆集团的出价计算，分析师指出，标价比他们预想得还要高，建起来的公寓将不便宜，单单本钱就要大约950元，也就是说，发展商或许得以每平方英尺1100元左右的价格推出这个项目。

可能将建设小型单位

资深房地产分析师麦俊荣原本预计最高投标将介于1亿元至1亿3000万元，但实际标价却高了一倍。

他说：“这样的售价将比这一带的99年地契和永久地契转售单位在过去三个月所取得的转售价来得高。要取得这样的高尺价，发展商看来计划建设较多的小型单位。这一带以1000平方英尺左右的三卧房式单位为主。丰隆集团也许计划发展700至800平方英尺的较小面积三卧房式单位，或推出这一带少有的一和二卧房式单位。这么一来，这幅地段可发展340至420个单位。”

世邦魏理仕执行董事李晓和指出，多个发展商竞夺该地段是因为看上它位于地铁站旁边，与澳洲学校和南洋初级学院毗邻，东北部最大的购物中心nex、实龙岗地铁转换站和中央高速公路都不远。

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Hong Leong site’s design, concept to be cutting edge
Serangoon project’s units sized according to buyers’ needs
The Business Times
Tuesday, 27 October 2009

Hong Leong Holdings, which recently won a site along Serangoon Avenue 3 in a hotly contested government tender, says that it will build a one-of-a-kind project on the site with more than 400 units.

The developer is now finalising the project but says that it will be ‘cutting edge’ in design and concept. It will also feature units sized according to the needs of buyers, said Hong Leong Holdings executive Quek Kon Hui.

Hong Leong won the 99-year leasehold site this month in a tender by the Urban Redevelopment Authority. It put in the top bid of $221 million or $529 psf of gross floor area.

Addressing concerns over ’shoebox’ units, Mr Quek said that Hong Leong will give value without compromising on functional living space.

The project is expected to be launched the first half of next year.

Separately, sales at the 175-unit Lincoln Suites in Khiang Guan Avenue, which was soft-launched last week, have been brisk, the companies developing the project said yesterday.

Forty-six of the 56 units launched in phase one were snapped up by the close of the weekend. They comprised 15 studio units and 31 one- to three-bedroom units.

The project is being jointly developed by Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group.

The consortium paid $243 million for the District 11 site at the height of the property boom in June 2007. This worked out to about $1,200 psf ppr.

The developers said last week that the units will be offered at an average price of $1,680 psf in the first phase but could be higher in later phases. The project will be officially launched this weekend.

Elsewhere, GuocoLand said in an update that it sold 99% of the 180 units launched at the weekend in its Ascot Park development in Nanjing, China.

The 180 units were launched at an average price of 8,500 yuan (S$1,742) per sq m – about 20% higher than prices in phase one, which was fully sold in July this year.

Of those units, 178 or 99% have been sold so far. The project has 1,112 apartments in all.

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Serangoon Aveune 3 condos top $600 psf
The Edge
Monday, 16 November 2009

Serangoon Avenue 3 area came into focus last month when Hong Leong Holdings won a land parcel there in a government tender with a bid of $221 million, which works out to $529 psf ppr. Property consultants expect the breakeven price for the future condominium project to be between $900 and $950 psf. Hong Leong says it intends to develop the site into a 400- unit condo, which is targeted for launch in 1H2010.

The proposed project has ignited the interest of some homebuyers and investors, and there was a flurry of activity in some of the condos along Serangoon Avenue 3 in the week of Oct 16 to 23. 5 units changed hands in the resale market in Amaranda Gardens, Chiltern Park and The Sunnydale.

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Amaranda Gardens

At the freehold condo Amaranda Gardens, developed by Keppel Land and completed in 2004, a 1,162 sqft unit changed hands for $1.048 million, or $901 psf, according to a caveat lodged with URA Realis. The owner had purchased the unit when it was launched in 2001 for just $730,688 ($629 psf), which translates into a 43% capital gain for the seller.

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Chiltern Park

The 500-unit Chiltern Park, located on Serangoon Avenue 3 and off Lorong Chuan, saw three units changing hands at prices ranging from $617 to $721 psf, and that has set the tone for the area. The 99-year leasehold project was developed by First Capital Corp (now GuocoLand) in 1995. It is located opposite Nanyang Junior College and near St Gabriel’s Primary School, the Australian International School in Lorong Chuan as well as the temporary campus of the Stamford American School.

The development is popular with families with schoolgoing children, says Knight Frank property agent Kenneth Yeo. He says Chiltern Park is also just a short drive to New Tech Park in Serangoon Gardens and one stop along the Circle line from the Serangoon MRT station and bus interchange, which will be integrated with the new shopping mall, nex, in Serangoon Central.

A 1,571 sqft unit on the seventh floor of Chiltern Park was sold for $980,000 on Oct 21. The owner had purchased it in 2007 for $610,000, hence, reaping a gain of 60.6% in 2 short years. Prior to that, the unit had changed hands for $590,000 in 2002 and at the peak of the market in 1996, it was transacted for $1.08 million. Another 936 sqft unit on the 5th floor went for $675,000, or $721 psf. The owner had purchased the unit in 2007 for $608,000, or $649 psf, hence seeing an 11% appreciation over the last 2 years. Most recently, a 1,572 sqft unit on the 4th floor of one of the three towers was sold for $970,000, or $617 psf.

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The Sunnydale

The Sunnydale, a 99-year leasehold condominium developed by MCL Land and completed in 2001, saw a sole transaction. A 1,345 sqft 3rd-floor unit sold for $900,000 ($669 psf). The previous owner purchased it in a resale for $620,000 ($461 psf) in 2003, hence making a gain of 45%.

Property agents like Yeo note that transactions have slowed this month, and it could be the effect of the recent measures taken by the government to cool the property market, such as the removal of the interest absorption scheme and interest-only home loans for new launches, and also the record number of land parcels released in the recent government land sales programme. This should be good news for genuine homebuyers.

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Chuan Park condo hits a high of $800 psf
The Edge
Friday, 25 January 2010

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Chuan Park

A Singaporean who only wants to be known as Mr Tan put his 3-bedroom, 1,528 sqft unit at Chuan Park condominium on Lorong Chuan for sale a month ago. Within a day, he found a buyer who was willing to pay his asking price of $980,000, or $641 psf.

“We sold because the price reached our expectations,” he says in a phone interview. “The property may be old, but it is well-maintained. Rental demand is healthy, given the proximity to good schools and the Australian International School. There is potential for en-bloc sale and the location is wonderful — right next door to the MRT station.”

For the period from Jan 4 to 8, there were three transactions at the 452-unit Chuan Park, at prices from $690 to $800 psf. On Jan 5, a 710 sqft studio apartment on the 2nd floor was sold for $568,000, or $800 psf. The owner had purchased it for $450,000 in 2007, thus enjoying a 26% price appreciation in just 2 years.

Another studio apartment on the 4th floor went for $520,000, or $732 psf. The owner had purchased it for $458,000, or $645 psf, in 1995. This represents a gain of 13.5%. The previous owner had bought it for $395,000 in the same year, thus enjoying a gain of 16%.

Excitement is mounting in the Serangoon Gardens Estate in the vicinity of Lorong Chuan and Serangoon Avenue 3 as the Circle Line nears completion and another 11 new MRT stations from Tai Seng to Dhoby Ghaut open in April. The Lorong Chuan MRT station opened last May.

Good schools like Nanyang Junior College and St Gabriel’s Primary School as well as the Australian International School have also attracted families with schoolgoing children and investors to Chuan Park. The condo is a short distance from the New Tech Park and one stop away from the Serangoon MRT station, where a new mall called nex is coming up.

What’s also fuelling optimism among investors and owners of existing condos looking to sell is Hong Leong Holdings’ 400-unit condo that is expected to be launched in the coming months. Hong Leong was awarded the 99-year leasehold site on Serangoon Avenue 3 last October with a top bid of $221 million, or $529 psf of gross floor area, which was 164% above the reserve price. Property consultants have estimated that the breakeven price for the project is likely to be $900 to $950 psf. They expect the new condo to be priced above $1,000 psf.

Fred Teo, a property agent at Knight Frank, says these 2 factors are the main reasons driving increased demand at Chuan Park. He notes that prices in the 26-year-old, 99-year leasehold condo have risen from around $500 psf last April to $700 psf in recent months. The launch of the new project by Hong Leong would probably lift prices higher, says Teo.

Opposite Chuan Park are two 99-year leasehold condos: 372-unit, 11-year-old The Springbloom and 500-unit 15-year-old Chiltern Park. Prices in those two projects have also been creeping up. On Jan 6, an 893 sqft unit at The Springbloom was sold for $650,000, or $728 psf.

At Chiltern Park, a 915 sqft unit was sold for $660,000, or $721 psf, according to a caveat lodged with URA Realis on Jan 6. At the Jones Lang LaSalle property auction on Jan 20, a second-floor, 1,518 sqft apartment at Chiltern Park was put up for mortgagee sale with an opening price of $980,000. A few parties bid for the property, which was sold for $1.015 million, or $669 psf.

With the Circle Line nearing completion and Hong Leong’s new condo launch in the offing, it looks like interest in condos in the Lorong Chuan and Serangoon Avenue 3 neighbourhood will intensify in the coming months.

Amaranda Gardens has a nëw hïgh of $1,058 psf!


Amaranda Gardens
Address .................................... psf ............... Area .......... Price ............ Contract Date
120 Serangoon Avenue 3 #09-08 .... $1,058 psf .... 1,163 sqft .... $1,230,000 .... 5 Apr 10