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Thread: Famous hotpot chain founder buys GCB

  1. #1
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    Default Famous hotpot chain founder buys GCB

    http://www.businesstimes.com.sg/real...under-buys-gcb

    Famous hotpot chain founder buys GCB

    Dubbed "The Winged House", the Gallop Road bungalow sold for S$27m

    By Kalpana Rashiwala

    [email protected]

    @KalpanaBT


    Realstar Premier Group MD William Wong described the S$1,700 psf tag for the Gallop Road bungalow as a “fair price given that the house was built three, four years ago and has a majestic design”.

    Mar 30, 2016


    THE founder of a popular Sichuan-style hotpot (steamboat) chain that originated in China and which is well-known for its dedicated customer service - is understood to have bought a Good Class Bungalow at Gallop Road.

    Zhang Yong, a Singapore citizen, is paying S$27 million for the bungalow, which was rebuilt and completed in 2012. The price works out to S$1,700 psf based on the property's freehold land area of 15,884.29 sq ft.

    Currently leased till around the middle of next year at a monthly rent of slightly over S$30,000, the property is being sold by a couple who rebuilt the house that currently stands on the site. Dubbed The Winged House, it was designed by K2LD Architects in the shape of two wings. The property spans two levels and a basement, with a total of five bedrooms in addition to a pool, terrace and garden.

    Located at a cul-de-sac, it is a stone's throw from the Singapore Botanic Gardens.

    Mr Zhang is the founder of the Sichuan HaiDiLao Catering Co, which he set up in 1994. It has about 130 restaurants in Beijing, Shanghai, Xi'an, Nanjing and other Chinese cities as well as three outlets in Singapore - at Clarke Quay, 313 @ Somerset and IMM Building.

    Its other overseas operations include Taiwan, South Korea, Japan and the US. The chain is famous for its emphasis on customer satisfaction. The services extended to customers include free shoe-shining and manicure while they wait for tables, and song-and-dance performances by staff. Some outlets also have a kids' play area with cots for babies.

    The waiting time at its Singapore outlets can be up to three hours; the restaurants do not accept bookings except during certain off-peak periods. Mr Zhang, who is in his mid-40s, has penned a book about the business philosophy behind HaiDiLao.

    Mr Zhang's purchase of the Gallop Road GCB here is believed to have been brokered by Newsman Realty.

    Realstar Premier Group managing director William Wong described the S$1,700 psf tag for the Gallop Road bungalow as a "fair price given that the house was built three, four years ago and has a majestic design".

    An older house in the locale, if it were built about 15 years ago, would command around S$1,500-1,600 psf, he added.

    Elsewhere, a GCB in Tanglin Hill also changed hands recently for S$27.5 million or S$1,551 psf on land area. This is similar to the S$1,539 psf that a nearby property fetched last September. The existing houses on both sites are pretty old and are expected to be redeveloped.

    Over the past six months or so, said Mr Wong, GCB transactions have been mostly below S$25 million for a "standard-sized" GCB of about 15,000 sq ft land area.

    On psf of land basis, he estimates that prices have generally softened about 15 per cent in the past two years - on the back of the property cooling measures including the additional buyer's stamp duty and the total debt servicing ratio framework, he added.

  2. #2
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    25 gallop road

  3. #3
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    i am surprised at the comment from Realstar MD ... that it is a fair price ....

    Is he not aware that house like that ,,,where the neighbor is a dead end ... is not preferred by most HNI's ?



    what is mean is ... 3 gates so close to each other ...

    precisely becos it is not preferred ... it has to be sold 'cheaper' that others ...

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    Quote Originally Posted by proud owner View Post
    i am surprised at the comment from Realstar MD ... that it is a fair price ....

    Is he not aware that house like that ,,,where the neighbor is a dead end ... is not preferred by most HNI's ?



    what is mean is ... 3 gates so close to each other ...

    precisely becos it is not preferred ... it has to be sold 'cheaper' that others ...
    Have you heard of K2LD? Their style of architecture and their high demands for construction and engineering tolerances = $900 psf to $1,200 psf range for built-up space.

    Plus, this is in Gallop neighbourhood, one of the more desirable GCB neighbourhoods in district 10.

    I think it is a very very fair price.

    Please go there and have a look. The "dead end" in GCB neighbourhoods is much different from "dead end" in lesser landed neighbourhoods.

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    Quote Originally Posted by Lord Anus View Post
    Have you heard of K2LD? Their style of architecture and their high demands for construction and engineering tolerances = $900 psf to $1,200 psf range for built-up space.

    Plus, this is in Gallop neighbourhood, one of the more desirable GCB neighbourhoods in district 10.

    I think it is a very very fair price.

    Please go there and have a look. The "dead end" in GCB neighbourhoods is much different from "dead end" in lesser landed neighbourhoods.
    i know Gallop very very well ...

    it used to be a thru road ... towards Woolerton side.

    It is not the best part of Gallop ... its a DEAD end , one way in, one way out kind of road ... from the junction of Tyrsall rd and Cluny park

    where that house is located, it is not the Cul de sac type ...... when you drive towards the house, there is 1 gate on the left, 1 in front and 1 on the right ...

    this is something a lot of buyers dont want..

    same for Cable road ...the end part of it ... same 3 gates ... there are cheaper than others ...

    If gallop is good, it wont be at this price...

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    Personally i like houses on dead end roads.
    The road outside is like your own "PES".
    No cars will be passing through, more peace and quiet.
    kids can play outside without fear of being hit (if the garden is not big enough)
    cars can park outside (if a lot of guests)
    The bigger the frontage, the better it is for houses on dead end roads.

    same when choosing condo, i like the ones at the end of a corridor. nobody will be passing through. if can get the opposite neighbour to agree to share the end space, even better. shoe rack can store outside. bicycles can store outside, not blocking the passageway. can see a wider view if condo is at the end.
    Last edited by hopeful; 31-03-16 at 09:22.

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    to add to the above, i am not sure what is the problem of "one way in, one way out kind of road".
    is it the extra expense involved in getting to places? like extra minutes, extra car-related expenses?

    my thinking is this: that is only extra minutes on the road. and how much time do I spend on the roads?
    people spend the most time at home or in the office.

    on a side track:
    i spend most time either on my butt or on my back, hence i gladly spend xtra $ on a really good mattress and chair and spend average $ on an average car.
    compare 6-7 hours on a bed + another 6-7 hours on a chair vs 1 hour in a car. so there is really no contest between bed+chair vs car.
    Last edited by hopeful; 31-03-16 at 09:50.

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    Quote Originally Posted by Lord Anus View Post
    Have you heard of K2LD? Their style of architecture and their high demands for construction and engineering tolerances = $900 psf to $1,200 psf range for built-up space.
    ...
    when you build landed, does contractor/developer/builder also have 3% allowance? what is the area allowance for K2LD?

  9. #9
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    Quote Originally Posted by hopeful View Post
    Personally i like houses on dead end roads.
    The road outside is like your own "PES".
    No cars will be passing through, more peace and quiet.
    kids can play outside without fear of being hit (if the garden is not big enough)
    cars can park outside (if a lot of guests)
    The bigger the frontage, the better it is for houses on dead end roads.

    same when choosing condo, i like the ones at the end of a corridor. nobody will be passing through. if can get the opposite neighbour to agree to share the end space, even better. shoe rack can store outside. bicycles can store outside, not blocking the passageway. can see a wider view if condo is at the end.


    Yes we all like cu de sac

    but in this case it is different ...

    the end of the road is another house ..

    so your children is playing outside someone else's gate ..

    thats what i meant when i said there are 3 gates ( 1 left, 1 right, 1 in front) .. as opposed to the 2 gates ( 1 on each side of the road )

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