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Thread: Two freehold residential sites on market

  1. #1
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    Default Two freehold residential sites on market

    24 May 2012 PropertyGuru.com.sg By Romesh Navaratnarajah and hot-property.sg By Agent Tay

    More redevelopment sites up for sale
    Source: The Straits Time 24 May 2012

    Two residential sites located at Hillview Avenue and Amber Road have been put up for sale.

    The first plot at 63 Hillview Avenue measures 230,915 sq ft and has a gross plot ratio of 1.92. Indicative pricing for the site is S$330 million, which works out to S$925 psf ppr inclusive of the S$80 million development charge.

    Colliers International, the marketing agent, said that the site may be developed into a 10-storey residential development offering 370 apartments at an average size of 1,200 sq ft each.

    Currently, the site houses the Lam Soon Industrial Building (pictured), a 10-storey light industrial development with 154 warehouses and light industrial factories.

    “Given that there is a strong demand for light industrial units, the successful buyer can also consider additions and alteration works to retain the existing industrial building, subject to URA's approval,” noted Tang Wei Leng, Executive Director Of Investment Services at Colliers.

    The site tender will end on 28 June.

    The second parcel at Amber Road includes three neighbouring landed properties with a total land area of nearly 28,409 sq ft. The site has a gross plot ratio of 2.8 and is zoned for residential development under the 2008 Master Plan.

    Marketing agent Credo Real Estate noted that the sellers expect offers of between S$73 million and S$80 million, which reflects a land price of around S$1,243 psf ppr to S$1,318 psf ppr after factoring the estimated development charge of S$25 million.

    Yong Choon Fah, Executive Director at Credo, said: “Interestingly, these three plots at Amber Road are the last standing landed properties on the road, which is a well-known address for high-rise condominiums, like Amber Point, Amber Park and King's Mansion, that command views of the sea.”

    The tender for the site will close on 22 June.
    Last edited by CondoInterested; 25-05-12 at 23:21.

  2. #2
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    Default

    Seems only the Hillview part is new (correct me if I am wrong), the Amber part is already somewhere here.

    The Straits Time combine the 2 or the 2 website combine the 2?

  3. #3
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    Default Two freehold residential sites on market

    http://www.businesstimes.com.sg/arch...l-sites-market

    Published May 24, 2012

    Two freehold residential sites on market

    They are at Hillview Avenue and Amber Road

    By Mindy Tan


    TWO freehold residential sites at Hillview Avenue and Amber Road were put up for sale yesterday.

    The first, a 230,915 sq ft freehold site, which is located at 63 Hillview Avenue, has a gross plot ratio of 1.92, and is on the market with an indicative pricing of $330 million. Inclusive of a development charge of some $80 million, this translates into $925 per sq ft per plot ratio (psf ppr).

    According to marketing agent Colliers International, the site can be redeveloped into a 10-storey residential development comprising 370 apartments averaging 1,200 sq ft each.

    The site is currently occupied by Lam Soon Industrial Building, a 10-storey light industrial development comprising a total of 154 warehouses and light industrial factories.

    Cambridge Industrial Trust Management had announced earlier this month that RBC Dexia Trust Services, a trustee of Cambridge Industrial Trust (CIT), had signed a collective sale agreement for its strata-titled interests in the building. CIT had purchased the 97 units, which is about 69.44 per cent of the building's total share value, in 2006, at $72.2 million.

    Under the 2008 Master Plan, the subject site is zoned for "residential" use with a gross plot ratio of 1.92. The Hillview/Upper Bukit Timah area has been re-designated for "residential" use since 1993.

    "Given that there is a strong demand for light industrial units, the successful buyer can also consider additions and alteration works to retain the existing industrial building, subject to URA's approval," said Tang Wei Leng, executive director of investment services at Colliers International.

    She added: "We expect to see keen interest from developers in this freehold site, given that the area is now undergoing further infrastructure development with the upcoming Hillview MRT station which is slated for completion in 2015. The upcoming mixed development, The Hillier, which comprises a retail mall, hillV2 that is slated for completion end-2013, will also add vibrancy to the area."

    The tender for the site closes on June 28, at 3pm.

    The second site, at Amber Road, comprises three adjoining landed properties. The freehold sites have a combined land area of approximately 28,409 sq ft. Under the 2008 Master Plan, the site is zoned for residential use with a gross plot ratio of 2.8.

    According to marketing agent Credo Real Estate, the sellers are expecting offers in the region of $73 million to $80 million. This reflects a land rate of approximately $1,243 to $1,318 psf ppr after factoring in an estimated development charge in the region of $25 million.

    "Interestingly, these three plots at Amber Road are the last standing landed properties on the road, which is a well-known address for high-rise condominiums, like Amber Point, Amber Park and King's Mansion, that command views of the sea," said Yong Choon Fah, executive director at Credo Real Estate.

    "The last transaction in the area was that of Parkway View at Marine Parade Road, a collective sale site with an allowable GPR (gross plot ratio) of 2.1, which was sold for $1,346 psf ppr in December last year," she added.

    The tender closes on June 22 at 2.30pm.

  4. #4
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    Default Two residential sites up for tender

    http://www.straitstimes.com/Money/St...ry_802335.html

    Two residential sites up for tender

    Published on May 24, 2012


    The three adjoining plots of land in Amber Road have a total land area of 28,409 sq ft and are zoned for residential use under the 2008 Master Plan. They are the last landed properties on the road. -- PHOTO: CREDO REAL ESTATE (SINGAPORE)

    By Amanda Tan


    THE owners of three landed properties in Amber Road in the East Coast area are joining forces to put their adjoining plots of land up for sale by tender.

    The freehold sites have a total land area of 28,409 sq ft and are zoned for residential use under the 2008 Master Plan. They have a gross plot ratio of 2.8.

    The sellers are expecting offers in the region of $73 million to $80 million.

    The sites are being put up for sale by Credo Real Estate, a property consultancy and investment sale specialist.

    Ms Yong Choon Fah, its executive director, said the three plots are the last landed properties on the road, a well-known address for high-rise condominiums.

    'Under the Master Plan, the entire plot may be redeveloped into a high-rise residential development of over 20 storeys with partial sea views,' she said, adding that the plot can yield about 75 apartments with an average size of 1,000 sq ft.

    As the properties are not strata-titled, there is no need for an application to the Strata Titles Board, Ms Yong said.

    'The successful purchaser would be able to take possession of the subject site upon completion, and could plan towards marketing and building the new project relatively quickly.'

    The site is near schools and amenities like Parkway Parade.

    The tender opens today and closes on June 22.

    Another larger freehold residential site, currently used for industrial purposes, is also on sale today.

    The site, at 63 Hillview Avenue in the Upper Bukit Timah area, was launched for sale by tender by property consultancy Colliers International.

    The 230,915 sq ft site has a wide road frontage of about 200m, facing Hillview Avenue.

    It is occupied by Lam Soon Industrial Building, a 10-storey light industrial development with 154 warehouses and factories.

    Under the 2008 Master Plan, the site is zoned for residential use with a gross plot ratio of 1.92.

    Ms Tang Wei Leng, Colliers' executive director of investment services, said the indicative pricing is $330 million, or $925 per sq ft per plot ratio.

    The site could yield a 10-storey building with 370 residential units of 1,200 sq ft each.

    The successful buyer could also choose to retain the existing building for light industrial work, subject to the Urban Redevelopment Authority's approval.

    The tender for the site closes on June 28.

    [email protected]

  5. #5
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    The 3 Amber Road landed property really huat ah! 3 landed with combined smallish plot of 28ksqft with plot ratio of 2.8. Each landed property pocket $26 million... Sure build 100+ MM one. 3 families become 100 families. The area will jam like crazy.

    Cambridge industrial Trust also made a killing if they manage to sell the freehold Hillview plot at $330m. That site is huge and can easily build 400 good sized units. They bought for only $72 million 5 years ago. I wonder what will happen to the share price?

  6. #6
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    Amber rd has become novena of the east. Oh wait. Wheres the mrt.

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