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Thread: Vista Park at South Buona Vista up for enbloc

  1. #1
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    Default Vista Park at South Buona Vista up for enbloc

    Published 12 May 2011
    TODAYonline
    By Stella Lee

    Two sites were launched for collective tender yesterday with the en bloc sale market feverishly picking up activity for this year as confidence in the Singapore economy remains buoyant. Compared to last year, average transaction sizes for collective sales have increased by more than 50 per cent.

    Since the start of this year, 20 collective sales have been announced here with nine closing at a total of S$880 million. This compares against the 34 collective sales totalling S$1.7 billion last year, according to Cushman & Wakefield.

    Analysts say that the average transaction size grew from S$52 million last year to more than S$80 million this year as property developers are bullish about the economy.

    Mr Donald Han, vice-chairman at Cushman & Wakefield said: “Bottom line: So long as the economy grows within the 4 to 6 per cent I think generally the confidence will be there in terms of investors coming here looking to invest in this part of the world. It’s going to be a fairly active market.”

    Vista Park, a large leasehold residential 319,000 sq ft redevelopment site off Pasir Panjang Road has been put up with a guide price of S$338 million. This translates to a land price of S$862 per square foot per plot ratio based on the potential gross floor area of almost 447,000 sq ft. Tucked away in a tranquil neighbourhood, the site is close to the Ayer Rajah Expressway (AYE) and within walking distance from the Pasir Panjang MRT Station, which is expected to be ready by the fourth quarter of this year.

    Additionally, a post-colonial development in River Valley with a unique tenure of close to 1,000,000 years is expected to fetch a reserve price in the range of between S$72 million and S$80 million.

    More than 80 per cent of the owners have signed a collective sale agreement to sell the property. They expect offer prices of between S$72 million and S$80 million or between S$1,057 and S$1,175 per square foot.

    Analysts say the market for en bloc sales currently favours smaller developments as the bulk of the land sales programme will continue to be dominated by the Government land sales.

    “I think generally I tend to be a bit more bullish on the smaller ones, because the more bite-sized it is, the number of new players in the market will tend to be a bit more than compared to new entrance for large projects,” said Mr Han.

    Mr Karamjit Singh, managing director, Credo Real Estate, said: “Various en-bloc sites have different fortunes. Smaller ones are more successful because for smaller developers, en-bloc sites are their main source of land supply. Bigger developers on the other hand are more keen on Government sites.”

  2. #2
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    Vista Park will set the new benchmark in that part D5 if the EB goes through. Question is if it goes... any thoughts?

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    Nearly bot one 1bedder there in 09....
    How much can a unit there fetch if enbloc?

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    I understand a typical 2 bedder gets abt 1.4m

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    Better dun go thru.... If not i hahaha

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    It's a nice big plot but not the best characteristics.


    Quote Originally Posted by devilplate
    Better dun go thru.... If not i hahaha

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    Quote Originally Posted by gn108
    It's a nice big plot but not the best characteristics.
    I hesitated due to the lease

    Aiya....i shd just buy it? Lol

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    Smile

    I am heavily vested along the stretch with two FHs... Definitely keeping fingers crossed.

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    Quote Originally Posted by new2mondrian
    I am heavily vested along the stretch with two FHs... Definitely keeping fingers crossed.
    During 09, got many 1-2bedders for sale....all less den 700psf....

    If go thru, i cud hf make double....

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    Quote Originally Posted by new2mondrian
    I am heavily vested along the stretch with two FHs... Definitely keeping fingers crossed.
    wow good foresight. I hope it will come true. :-) Vested in D5 too.

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    The smallest studio will get 1.1 mil and the largest townhouse slightly more than 3 mil if go through.
    The site advantage is in a quiet location..private access to kent ridge park, the area is exclusive private residences...condo or landed. And PP mrt will be ready soon within walking distance.
    The price is kind of high...if enbloc ..prob develop into high end residences otherwise how to justify the high ppr.

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    Quote Originally Posted by weezersg
    The smallest studio will get 1.1 mil and the largest townhouse slightly more than 3 mil if go through.
    The site advantage is in a quiet location..private access to kent ridge park, the area is exclusive private residences...condo or landed. And PP mrt will be ready soon within walking distance.
    The price is kind of high...if enbloc ..prob develop into high end residences otherwise how to justify the high ppr.
    Looks near to pp mrt but until u try to walk urself.....

    Vy sloppy

    But sian la....cud hf bot at 500k leh

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    Quote Originally Posted by new2mondrian
    I am heavily vested along the stretch with two FHs... Definitely keeping fingers crossed.
    fh stand good chance. vista park is the only 99lh, surrounded by FHssss..
    well...

    a rose among the thorns...

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    Quote Originally Posted by jwong71
    fh stand good chance. vista park is the only 99lh, surrounded by FHssss..
    well...

    a rose among the thorns...
    Tats y i din buy lor...

    If enbloc successfully,

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    Quote Originally Posted by devilplate
    Looks near to pp mrt but until u try to walk urself.....

    Vy sloppy

    But sian la....cud hf bot at 500k leh
    its damn far, and i walk out for dinner in evening aso sweat..

    500k.?

    u can get it at 342k, or even at 420k.

    cos an agent suan sia me, 99lh among fh.. enbloc simi..?

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    Quote Originally Posted by jwong71
    its damn far, and i walk out for dinner in evening aso sweat..

    500k.?

    u can get it at 342k, or even at 450k
    Ard 4xxk...500k aso huat wat

    6xxpsf lor

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    Quote Originally Posted by jwong71
    its damn far, and i walk out for dinner in evening aso sweat..

    500k.?

    u can get it at 342k, or even at 420k.

    cos an agent suan sia me, 99lh among fh.. enbloc simi..?
    U got a unit there now ar.....jiayou! Huat ah!

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    Quote Originally Posted by devilplate
    Ard 4xxk...500k aso huat wat

    6xxpsf lor
    if this goes through... i will look out for 99lh liao...

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    Quote Originally Posted by devilplate
    U got a unit there now ar.....jiayou! Huat ah!
    no la.. whahahahahaha sold alrdy..
    my style more to forex, hit and run.

    and espeically at ulu location of 99lh.. definately wont hold to pray.

    i rather wait to buy a hdb, and get good rental and wait for sers. it will come though

    if sers goes through for me, i just buy condos under siblings or parents name

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    Is the FH condo development at former pender court site (600m from the new telok blangah mrt stn) worth $2kpsf for 400 sqft?

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    Price seem high... And what a waste of resources... It is so new.... Now singapore enbloc after every ten years lol.... Getting a bit crazy

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    Quote Originally Posted by DC33_2008
    Is the FH condo development at former pender court site (600m from the new telok blangah mrt stn) worth $2kpsf for 400 sqft?
    It's call foresta. For esta or forest a. It's up to u, at least got flyover link nearby. Can add as sun shade?

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    It's between the mrt and harbourfront. Will it be better to go for reflection? Which has greater potential?
    Quote Originally Posted by kingkong1984
    It's call foresta. For esta or forest a. It's up to u, at least got flyover link nearby. Can add as sun shade?

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    Mushrooms versus Trees, what do u think?

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    Got it!
    Quote Originally Posted by kingkong1984
    Mushrooms versus Trees, what do u think?

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    Quote Originally Posted by DC33_2008
    Got it!
    Reflections.....can make money meh...px looks super high fof me

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    Quote Originally Posted by devilplate
    Reflections.....can make money meh...px looks super high fof me
    Nearby foreque © mt faber at 2kpsf. Sourcimg for gd sale.

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    Quote Originally Posted by DC33_2008
    Nearby foreque © mt faber at 2kpsf. Sourcimg for gd sale.
    Mm psf misleading la...

    Use carribean for comparison better

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    7Xx sqft @ $2kpsf is abt1.5 mil. Not too bad.

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    I tried walking from reflection to vivo.... Halfway give up lol
    Reflection golf facing how much ar?

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