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Thread: Lam Soon Industrial Building relaunched for collective sale

  1. #1
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    Default Lam Soon Industrial Building relaunched for collective sale

    http://www.businesstimes.com.sg/arch...-sale-20130319

    Published March 19, 2013

    Lam Soon Industrial Building relaunched for collective sale

    By nathaniel chew


    LAM Soon Industrial Building, sitting on a freehold residential site in Hillview Avenue, has been relaunched for collective sale by Colliers International.

    The 10-storey building comprises 154 warehouses and light industrial factories. The site measures 230,915 sq ft and has a gross plot ratio of 1.92.

    Tang Wei Leng, executive director of investment services at Colliers International, said the site can be redeveloped into a 10-storey residential building comprising 403 units of 1,100 sq ft each.

    Notwithstanding its current function as an industrial site, the plot is zoned for residential use, and is surrounded by residential developments such as Hillington Green, Hillview Green, HillVista, and The Lanai.

    Ms Tang said: "The Hillview area is an interesting vicinity, having transformed from an industrial area into a residential enclave and which is surrounded by Bukit Timah Hill, the Bukit Timah Reserve, and Dairy Farm Nature Park."

    The site has easy access to amenities such as The Rail Mall, Bukit Timah Plaza, and Beauty World; it is also near the Bukit Batok and Bukit Gombak MRT stations and the upcoming Hillview station, which is to be completed in 2015.

    Ms Tang said developers seemed optimistic about the area. Neighbouring developments such as The Hillier and The Lanai witnessed "healthy transactions"; unit prices there exceeded $1,700 psf and $1,500 psf respectively.

    The Lam Soon site was launched last May, but the sale was not completed because the owner's price expectations were not met. It had an indicative pricing of $330 million, or $925 psf per plot ratio.

    Colliers International did not provide an indicative price for this second tender, which closes on April 3 at 2.30 pm.

  2. #2
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    is this consider ulu area?

  3. #3
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    Quote Originally Posted by may2012
    is this consider ulu area?
    Well, that depend whether you consider Hillview is a ulu area or not.. cos Hillview is just a small estate..
    As for me, is not ulu anymore if talk about today

  4. #4
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    Quote Originally Posted by may2012
    is this consider ulu area?
    opposite hillbrooks,
    very near hillview peak, launching soon.

  5. #5
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    Pretty rare to have FH in that area...

    Could possibly sell well if developments in transport connectivity is improve there.

  6. #6
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    Quote Originally Posted by reporter2
    http://www.businesstimes.com.sg/arch...-sale-20130319

    Published March 19, 2013

    Lam Soon Industrial Building relaunched for collective sale

    By nathaniel chew


    LAM Soon Industrial Building, sitting on a freehold residential site in Hillview Avenue, has been relaunched for collective sale by Colliers International.

    The 10-storey building comprises 154 warehouses and light industrial factories. The site measures 230,915 sq ft and has a gross plot ratio of 1.92.

    Tang Wei Leng, executive director of investment services at Colliers International, said the site can be redeveloped into a 10-storey residential building comprising 403 units of 1,100 sq ft each.

    Notwithstanding its current function as an industrial site, the plot is zoned for residential use, and is surrounded by residential developments such as Hillington Green, Hillview Green, HillVista, and The Lanai.

    Ms Tang said: "The Hillview area is an interesting vicinity, having transformed from an industrial area into a residential enclave and which is surrounded by Bukit Timah Hill, the Bukit Timah Reserve, and Dairy Farm Nature Park."

    The site has easy access to amenities such as The Rail Mall, Bukit Timah Plaza, and Beauty World; it is also near the Bukit Batok and Bukit Gombak MRT stations and the upcoming Hillview station, which is to be completed in 2015.

    Ms Tang said developers seemed optimistic about the area. Neighbouring developments such as The Hillier and The Lanai witnessed "healthy transactions"; unit prices there exceeded $1,700 psf and $1,500 psf respectively.

    The Lam Soon site was launched last May, but the sale was not completed because the owner's price expectations were not met. It had an indicative pricing of $330 million, or $925 psf per plot ratio.

    Colliers International did not provide an indicative price for this second tender, which closes on April 3 at 2.30 pm.
    Any news or update of this enbloc? Any bid?

  7. #7
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    Hillview area is dead. That's why there is little interest in this place.

  8. #8
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    Quote Originally Posted by yowetan
    Hillview area is dead. That's why there is little interest in this place.
    I don't think so. Its a good place for living. Lots of greenery and near natural reserve. A new shopping mall and MRT is coming. For investment wise, I am not too sure. I once live in the HDB there before it was torn down. A nice place to live in. A laid back kind of place, quite and relaxing.

  9. #9
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    Quote Originally Posted by MM Lovers View Post
    I don't think so. Its a good place for living. Lots of greenery and near natural reserve. A new shopping mall and MRT is coming. For investment wise, I am not too sure. I once live in the HDB there before it was torn down. A nice place to live in. A laid back kind of place, quite and relaxing.
    i agree with you. with the new mrt coming up, i'm sure the place will start to liven up..

  10. #10
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    Is there any update of Lam Soon Building acquisition?

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