Faber Garden up for $830m collective sale

[Leeds]

October 17, 2011, 11.41 am (Singapore time)

Faber Garden up for S$830m collective sale

By CARINE LEE



Faber Garden, a freehold residential redevelopment site located along Upper Thomson Road is on Monday, up for collective sale by tender.
The redevelopment site has an area of approximately 544,738 sq ft, and is zoned for residential use with a gross plot ratio of up to 1.6. It can yield approximately 760 apartments with an average size of 1,200 sq ft. An estimated development charge of approximately $31.2 million is payable.
The site is within close proximity to Bishan, Ang Mo Kio and Marymount MRT Station with a future MRT Station on the Thomson line expected within walking distance.
Sole marketing agent Jones Lang LaSalle has given an indicative price of S$830 million for the site. Tender will close at 3pm on Nov 22, 2011.

[land118]

Quantum$ is very high, i doubt any party/parties want to be "hero" now..., all the enbloc more than a few hundred million$ this year, all quiet after deadline..., odds are stacked against this one find a buyer..as well. Owners may just have to dream and feel good about the value being put out in the market...Bait is there, but "Big Fish" now too clever and not hungry to Bite; doubt it will be a Happy X'mas...

[amk]

this one, see Thomson Grand selling 1300 psf, want to join the fun

btw,

with a future MRT Station on the Thomson line expected within walking distance

how does he know ?

[radha08]

this one, see Thomson Grand selling 1300 psf, want to join the fun

btw,



how does he know ?
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he said walking distance maybe he got strong legs can walk from changi to jurong...

[chiaberry]

how does he know ?

There have been soil investigation rigs in the Sin Ming area for months now. Plus the previous Minister had named Sin Ming as one of the estates which will be served by the Thomson line.

The most likely site is next to Bishan Park Secondary Sch. The rigs have been spotted along Sin Ming Avenue following the road to the junction with Upper Thomson Road. There were some rumours circulating that plans are afoot to develop something like Holland Village at Bishan Park to capitalize on the riverside ambience once the Kallang River diversion is completed. I don't have reliable links for that, I got a whiff of it in another forum.

Anyway there is a lack of Freehold land for development in that area. Most of the rest which have park/river or reservoir views is 99LH.

[chiaberry]

how does he know ?

There have been soil investigation rigs in the Sin Ming area for months now. Plus the previous Minister had named Sin Ming as one of the estates which will be served by the Thomson line.

The most likely site is next to Bishan Park Secondary Sch. The rigs have been spotted along Sin Ming Avenue following the road to the junction with Upper Thomson Road. There were some rumours circulating that plans are afoot to develop something like Holland Village at Bishan Park to capitalize on the riverside ambience once the Kallang River diversion is completed. I don't have reliable links for that, I got a whiff of it in another forum. Even if they don't sell it this time round, FH land in reasonable/good locations will become more scarce as time goes by......

Anyway there is a lack of Freehold land for development in that area. Most of the rest which have park/river or reservoir views is 99LH.

[kane]

Can't lah. Quantum too big. If someone does buy it, it'll mark the start of another bull run.

[land118]

Can't lah. Quantum too big. If someone does buy it, it'll mark the start of another bull run.

HK developer Cheung Kong, developer of Thomson Grand would have been interested if project has been close to sold out but this is NOT the case..., URA end Sep'11 figures shows:

Total units in project =361 units...
total launched = 240
total sold= 140

Still have more than half to sell....

[kane]

maybe capitaland should try their luck. afterall they have so much cash.

[land118]

maybe capitaland should try their luck. afterall they have so much cash.

Haha, Ah Liew sweating and focusing on Bishan la..., need to reserve bullet$ on another 3 parcels beside the one they want to launch soon...

[kane]

Haha, Ah Liew sweating and focusing on Bishan la..., need to reserve bullet$ on another 3 parcels beside the one they want to launch soon...

3 plots $1bln each, still got change to buy the faber garden plot.

[land118]

3 plots $1bln each, still got change to buy the faber garden plot.

haha, if AH Liew hero enough, follow your advise, total 4 Bishan plot + Faber Gardens..., and suddenly 2012, market sentiment dampen..down 10% enough...$500m loss..., his neck will roll..., he still want more good years and more good bonuses la...

[kane]

haha, if AH Liew hero enough, follow your advise, total 4 Bishan plot + Faber Gardens..., and suddenly 2012, market sentiment dampen..down 10% enough...$500m loss..., his neck will roll..., he still want more good years and more good bonuses la...

aiyo, why you worry so much, lots of people queuing to buy his placement shares.

[land118]

aiyo, why you worry so much, lots of people queuing to buy his placement shares.

Haha, ok..let's wait & see if got takers for Faber Gardens..and if Ah Liew manage to grab rest of the land parcels next to Bishan MRT...

[kane]

i think they've put themselves into a real spot at bishan central by going all out on their first plot, and that one isn't even connected to the interchange or junction 8.

[land118]

i think they've put themselves into a real spot at bishan central by going all out on their first plot, and that one isn't even connected to the interchange or junction 8.

Ya, maybe they corner other 3 plots so that all 4 plots are inter-link, connect all the way to Bishan MRT/junction 8..., do similar theme, save on Architect fee and slowly sell?

[kane]

Ya, maybe they corner other 3 plots so that all 4 plots are inter-link, connect all the way to Bishan MRT/junction 8..., do similar theme, save on Architect fee and slowly sell?

that would be the idea but what if they missed out on one plot??

[land118]

that would be the idea but what if they missed out on one plot??

If they missed 1 plot, then they shot themselves in the foot, ouch! Can be costly for Ah Liew...

[kane]

If they missed 1 plot, then they shot themselves in the foot, ouch! Can be costly for Ah Liew...

They have raised the stakes, anyone who wants to play in that space might need to raise some serious capital.