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Thread: Peace Centre/Peace Mansion goes for $650m to Singapore firms in private treaty deal

  1. #1
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    Default Peace Centre/Peace Mansion goes for $650m to Singapore firms in private treaty deal

    Peace Centre/Peace Mansion is near shopping amenities such as Bugis Junction, Bugis+, Plaza Singapura, The Cathay, Wilkie Edge and GR.iD. There are also six MRT stations within 1km distance - Rochor, Bencoolen, Dhoby Ghaut, Bras Basah, Little India and Bugis.

    The development is also near educational institutions such as Singapore Management University, the School of the Arts, Lasalle College of the Arts, Nanyang Academy of Fine Arts and Kaplan City Campus.

    Schools within a 1km radius include St Margaret's Primary School and Stamford Primary School. Others within 2km of the site include Anglo-Chinese School (Junior), Farrer Park Primary School, River Valley Primary School and St Joseph's Institution Junior.







    https://www.facebook.com/Teo.See.Hwa...22610617987068

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  2. #2
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    Default Re: Peace Centre/Peace Mansion goes for $650m to Singapore firms in private treaty de

    https://www.straitstimes.com/busines...-reserve-price

    This means the site could yield about 362,747 sq ft of commercial space and some 241,831 sq ft of residential units - or about 240 units at an average size of 1,000 sq ft, subject to the relevant authority's approval, JLL said.

    Located at 1 Sophia Road, the District 9 property was built around 1977. It comprises 232 commercial units, 86 apartments and a carpark with 162 lots, totalling 319 strata lots in a 10-storey front podium block and a rear 32-storey tower.

    The 76,617 sq ft site the property sits on has a verified gross plot ratio of about 7.89 and may be redeveloped up to a height of 55m Singapore height datum, with part of the site potentially rising as high as 67m.

    76,617 sq ft x 7.89 = 604,508.13 sqft

    362,747 sq ft of commercial space and some
    241,831 sq ft of residential units 240 units at an average size of 1,000 sq ft,

    232 commercial units
    86 apartments
    1, a carpark with 162 lots
    232+1+86=319 strata lots
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

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    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  3. #3
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    Default Re: Peace Centre/Peace Mansion goes for $650m to Singapore firms in private treaty de

    76,617 sq ft x 7.89 = 604,508.13 sqft

    362,747 sq ft of commercial space and some
    241,831 sq ft of residential units 240 units at an average size of 1,000 sq ft,

    362,747 + 241,831 = 604,578

    "At the minimum price of S$650 million, it reflects a unit land rate after including an estimated lease top-up premium, is approximately S$1,443 psf per plot ratio, before factoring in bonus balcony plot ratio for the residential component,” said JLL Singapore executive director Tan Hong Boon.
    Read more at https://www.todayonline.com/singapor...-reserve-price

    https://www.todayonline.com/singapor...-reserve-price
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

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    You don't Buy others will Buy.
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  4. #4
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    Default Re: Peace Centre/Peace Mansion goes for $650m to Singapore firms in private treaty de

    https://www.businesstimes.com.sg/com...sc19AQVLYJVR8U





    The property is a mixed development comprising 319 strata units, and has a 99-year tenure starting from Jun 2, 1970. It has a land area of 7,118 square metres and is currently zoned for commercial use.

    JLL executive director Tan Hong Boon said with a sale price of S$650 million, the unit land rate for the deal is S$1,426 per square foot per plot ratio (psf ppr), after including an estimated lease top-up premium.

    After factoring in an additional 7 per cent bonus gross floor area (GFA) for the residential component, the land rate is S$1,388 psf ppr.


    2007 - S$470 million.
    2011 - S$700 million, try at S$675 million.
    2014 - S$680 million.
    2018 - S$650 million
    2019 - S$688 million
    2021 - sold at S$650 million
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

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    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  5. #5
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    Default Re: Peace Centre/Peace Mansion goes for $650m to Singapore firms in private treaty de

    After factoring in an additional 7 per cent bonus gross floor area (GFA) for the residential component, the land rate is S$1,388 psf ppr

    https://www.businesstimes.com.sg/com...sc19AQVLYJVR8U

    GLS site at Ang Mo Kio Ave 1 draws 15 bids with top bid of $1,118 psf

    https://www.edgeprop.sg/property-new...p-bid-1118-psf

    MCC Land’s bid of $248.99 million translates to a land rate of $930.34 psf per plot ratio (ppr) for the 95,587 sq ft, 99-year leasehold site.

    https://www.edgeprop.sg/property-new...rah-and-yishun
    The Best Time to buy Property is Yesterday.
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    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  6. #6
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    Default Peace Centre/Peace Mansion goes for $650m to Singapore firms in private treaty deal

    Peace Centre/Peace Mansion goes for $650m to Singapore firms in private treaty deal

    Peace Centre/Peace Mansion made its sixth attempt at a collective sale in September this year.

    Ann Williams

    Dec 3, 2021

    SINGAPORE - A group involving several Singapore-listed companies has made a successful $650 million offer for Peace Centre/Peace Mansion in a private treaty deal following the close of its collective sale tender earlier this year, the companies announced on Friday (Dec 3).

    The group comprises Chip Eng Seng, a SingHaiyi joint venture and Ultra Infinity, which is equally owned by a unit of KSH Holdings, SLB Development and Ho Lee Group.

    The SingHaiyi joint venture, Sing-Haiyi Crystal, is 50/50 held by a SingHaiyi Group subsidiary and an entity controlled by Singapore billionaire couple Gordon Tang and his wife Celine. The couple are controlling shareholders of both SingHaiyi and Chip Eng Seng.

    Chip Eng Seng and SingHaiyi had in May partnered with Chuan Investments to clinch Maxwell House for $276.8 million in an en bloc tender.

    Peace Centre/Peace Mansion made its sixth attempt at a collective sale in September this year, with the owners expecting offers in excess of $650 million.

    Located at 1 Sophia Road, the District 9 property was built around 1977. It comprises 232 commercial units, 86 apartments and a carpark with 162 lots, totalling 319 strata lots in a 10-storey front podium block and a rear 32-storey tower.

    The site currently has a 99-year tenure starting from June 2, 1970. The joint offerors will seek in-principle approval from the Singapore Land Authority to issue a fresh 99-year lease.

    They will also seek approval from the Urban Redevelopment Authority to redevelop the property into a mixed-use commercial and residential development. The site, which spans 7,118 sq m, is currently zoned "commercial".

    Chip Eng Seng, Sing-Haiyi Crystal and Ultra Infinity will form a joint venture for the property's acquisition and redevelopment. Chip Eng Seng will hold the largest stake at 40 per cent, with the two partners taking 30 per cent each.

    The acquisition is subject, among others, to the joint offerors obtaining a sale order approving the collective sale, meeting planning criteria and getting the lease topped up.

    Peace Centre/Peace Mansion is near shopping amenities such as Bugis Junction, Bugis+, Plaza Singapura, The Cathay, Wilkie Edge and GR.iD. There are also six MRT stations within 1km distance - Rochor, Bencoolen, Dhoby Ghaut, Bras Basah, Little India and Bugis.

    The development is also near educational institutions such as Singapore Management University, the School of the Arts, Lasalle College of the Arts, Nanyang Academy of Fine Arts and Kaplan City Campus.

    Schools within a 1km radius include St Margaret's Primary School and Stamford Primary School. Others within 2km of the site include Anglo-Chinese School (Junior), Farrer Park Primary School, River Valley Primary School and St Joseph's Institution Junior.

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