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Thread: Olina Lodge, off Holland Village for sale by tender

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    Default Olina Lodge, off Holland Village for sale by tender

    Olina Lodge, off Holland Village for sale by tender
    By Jonathan Peeris | Posted: 07 June 2011 1555 hrs

    SINGAPORE: A 4-storey walk up residential development at Holland Hill is up for collective sale.

    Olina Lodge is a freehold property, comprising of 67 apartment units.

    The over 84,000 square feet site is a short walking distance from Holland Village and enjoys good accessibility from major roads and the Pan-Island Expressway.

    Property consultants DTZ said the site can be redeveloped into a 12-storey residential development with a maximum plot ratio of 1.6 or a gross floor area of almost 135,000 square feet.

    DTZ said its initial investigation shows that Development Charge is not payable up to a plot ratio of 1.6.

    However, a Development Baseline Enquiry has been submitted to Urban Redevelopment Authority (URA) and DTZ will advise interested parties accordingly.

    The indicative price for this site is S$225 million, reflecting S$1,575 per square foot per plot ratio, including 10 per cent of balcony space.

    DTZ added the site is most likely to appeal to developers who are seeking mid-sized residential development sites in sought-after locations that are well accepted by the locals and expatriates alike.

    The tender for Olina Lodge closes at 3pm on July 6.

    -CNA/ck
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @

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    Tulip garden 1200 already cannot get thru, this one 1500 wants to go thru?

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    Quote Originally Posted by CCR
    Tulip garden 1200 already cannot get thru, this one 1500 wants to go thru?
    the developement is on the cheaper side of holland road.... $1500 psf ppr seems incredible

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    Smaller development. Those "new-in-the-fray" developers like the Aspial, Breadtalk, Fragrance, Oxley, Popular lah - u name it , we have it - everyone wants to make quick money as developer - might be interested becos of the lower overall quantum as opposed to a large plot.

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    Possibly.... But they need to sell at at least 2200 psf....

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    Quote Originally Posted by CCR
    Possibly.... But they need to sell at at least 2200 psf....
    just nice for MM....400sqft at 2200psf

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    Quote Originally Posted by devilplate
    just nice for MM....400sqft at 2200psf

    olina is 4 storey

    but has a plot ratio of 1.6 ... meaning can build even higher than that
    and all units un Olina are huge ...
    can build into many many smaller units ..

    can be interesting

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    Quote Originally Posted by proud owner
    olina is 4 storey

    but has a plot ratio of 1.6 ... meaning can build even higher than that
    and all units un Olina are huge ...
    can build into many many smaller units ..

    can be interesting
    i read smthing like can build up to 12 storey....

    if got sold DOUBLE CFM MM!!

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    MM not suitable in holland.... MM must be located in town like tanjong pagar, holland more for family.... Let's see... Interesting....

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    Default Holland Hill site up for collective sale

    http://www.businesstimes.com.sg/sub/...63140,00.html?

    Published June 8, 2011

    Holland Hill site up for collective sale


    THE freehold Olina Lodge at Holland Hill has been put up for collective sale with an indicative price of $225 million or $1,666 per square foot per plot ratio (psf ppr).


    Olina Lodge: The buyer of the freehold site is likely to redevelop it into a project with mostly smallish units

    The site, a few minutes' drive to the Singapore Botanic Gardens, is zoned for residential use with a 1.6 plot ratio (ratio of maximum gross floor area to land area) and 12-storey maximum height under Master Plan 2008.

    No development charge (DC) is payable if the 84,288 sq ft site is redeveloped up to 1.6 plot ratio, said DTZ, which is marketing Olina Lodge.

    However, a development baseline enquiry has been submitted to Urban Redevelopment Authority and DTZ will advise interested parties accordingly, it added.

    If Olina Lodge's successful bidder taps the balcony allowance of 10 per cent additional gross floor area, an $8.33 million DC is payable; based on this, the $225 million indicative price would reflect a unit land price of $1,575 psf ppr.

    Analysts note that in the secondary market, units at The Lush on Holland Hill and Parvis nearby have changed hands in the $1,500 psf region on average in the past few months.

    Further away, Oxley Holdings group released units at Loft@Holland (comprising mostly one-bedders of about 323-484 sq ft) at a median price of $2,107 psf in January.

    Off Farrer Road, GuocoLand is said to be planning to release its new condo on the former Leedon Heights site at about $2,300-2,400 psf on average. The project will have two to four-bedroom units.

    Market watchers reckon that the successful bidder of Olina Lodge is likely to redevelop the site into a project with mostly smallish units.

    The tender for Olina Lodge closes on July 6.

    Olina Lodge is about 20 years old. The four-storey walk-up residential development comprises 67 apartments.

    Assuming the $225 million price is achieved, owners stand to receive $3 million to $4.9 million per unit - about 65 per cent more than what they would stand to receive if they sold their units individually.

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    Default Holland Hill site up for collective sale

    I hope that the en bloc sale will not find a buyer or is called off for my own selfish reason. Personally, I think this condo is beautifully architected both on the facade as well as on the layout of the units. I would love to buy a unit there, an opportunity that I missed 2 years ago as I was already committed. Its location is also ideal with the circle train station coming up in close proximity and it sits shigh up in the secluded corner on the holland hill overlooking a bungalow own by Shaw. It'll be a pity if it is rebuilt into some tiny units with soulless facade for a high price.

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    Quote Originally Posted by desirenlure
    I hope that the en bloc sale will not find a buyer or is called off for my own selfish reason. Personally, I think this condo is beautifully architected both on the facade as well as on the layout of the units. I would love to buy a unit there, an opportunity that I missed 2 years ago as I was already committed. Its location is also ideal with the circle train station coming up in close proximity and it sits shigh up in the secluded corner on the holland hill overlooking a bungalow own by Shaw. It'll be a pity if it is rebuilt into some tiny units with soulless facade for a high price.
    yes

    there are many such OLD, good layout, big size units ...

    however ..most are also .. WALK UP ....

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    Default Holland Hill site up for collective sale

    Olina has lift landing on every floor.

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    Unfortunately it does not matter what we think - all the matters is the owners, the RP and the developers think.
    But I reckon it would NOT go through coz of the high RP...so you may still get your wish...

    Quote Originally Posted by desirenlure
    I hope that the en bloc sale will not find a buyer or is called off for my own selfish reason. Personally, I think this condo is beautifully architected both on the facade as well as on the layout of the units. I would love to buy a unit there, an opportunity that I missed 2 years ago as I was already committed. Its location is also ideal with the circle train station coming up in close proximity and it sits shigh up in the secluded corner on the holland hill overlooking a bungalow own by Shaw. It'll be a pity if it is rebuilt into some tiny units with soulless facade for a high price.

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    Quote Originally Posted by desirenlure
    Olina has lift landing on every floor.

    are you sure ?

    one reason i gave it a miss last time was becos agent cfm that its a walk up

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