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Thread: Southbank (D7, Leasehold, UOL Group)

  1. #181
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    Quote Originally Posted by Property_Owner
    at least better then Citylights and City square.
    Please enlighten us!

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    Quote Originally Posted by iamforum
    Why better?

    is facing a big drain ...

    A building has four sides. Only one side faces it and fortunately only the shorter side with two units facing it. The other 3 sides has good view towards the bay, basin and sea.

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    Quote Originally Posted by Squall8888
    1930psf for Icon. Will this drive Southbank to 1600psf like 2007?


    ICON GOPENG STREET Apartment 1 2,160,000 1,119 Strata 1,930 Sep-09
    Who knows? Maybe very soon?

    Southbank is now $1,350 psf. It's just $250 psf away from $1,600 psf.

    Quote Originally Posted by Property_owner, Southbank, 9.27 am
    A studio just sold @ 1350psf. Hahaha

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    Quote Originally Posted by Reporter
    Who knows? Maybe very soon?

    Southbank is now $1,350 psf. It's just $250 psf away from $1,600 psf.
    I got a few offers at $1,300psf plus..lucky I rejected!

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    Quote Originally Posted by jasonlcl
    I got a few offers at $1,300psf plus..lucky I rejected!

    This unit sold is a #38. You mean you own the PH?

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    I don't think you need the penthouse to get 1300+ offer. Now, no units selling below 1300psf. Most are asking 1400psf and above. Those that will sell are those 1350psf but low floor.



    Quote Originally Posted by Property_Owner
    This unit sold is a #38. You mean you own the PH?

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    Quote Originally Posted by Squall8888
    I don't think you need the penthouse to get 1300+ offer. Now, no units selling below 1300psf. Most are asking 1400psf and above. Those that will sell are those 1350psf but low floor.
    You sure? So fast 1400psf? haha. Huat ah

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    Yah. I was actually trying my luck with going to TOP projects. Hoping to sell them after TOP because usually, the price will go up 10-20%. Southbank is one of them. Realised that it is even higher than citylights. Studio vs studio. So decided to drop the idea. You own one unit there I supposed?

    From the agents, I know one mid floor stack 6 asking 1320psf nett. One low floor stack 9, facing pool, 1350psf slightly nego. Owner just rejected a 1320psf cheque.

    You can call agents if you want to confirm this.




    Quote Originally Posted by Property_Owner
    You sure? So fast 1400psf? haha. Huat ah

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    Quote Originally Posted by Squall8888
    Yah. I was actually trying my luck with going to TOP projects. Hoping to sell them after TOP because usually, the price will go up 10-20%. Southbank is one of them. Realised that it is even higher than citylights. Studio vs studio. So decided to drop the idea. You own one unit there I supposed?

    From the agents, I know one mid floor stack 6 asking 1320psf nett. One low floor stack 9, facing pool, 1350psf slightly nego. Owner just rejected a 1320psf cheque.

    You can call agents if you want to confirm this.
    Agreed!I got the same information..most studio owners (2nd,3rd or even 4th owner) bought at between $1,150psf-$1,250psf hence have to sell above $1,350psf to have small profit.

  10. #190
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    Southbank #2x-08 kallang bayview, 2bdrm, 958sq ft at $1250psf. Any taker? Its Christmas !!

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    Quote Originally Posted by Reporter, 2 weeks ago
    Who knows? Maybe very soon?

    Southbank is now $1,350 psf. It's just $250 psf away from $1,600 psf.
    Err ... $1,351 psf ... $1-psf decrepancy again?


    Southbank
    Address ................................. psf ................ Area ........ Price .......... Contract Date
    881 North Bridge Road #38-09 ..... $1,351 psf ..... 614 sqft .... $828,000 ..... 4 Dec 09

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    Assuming 10% increase after TOP, will hit 1500 psf?





    Quote Originally Posted by Reporter
    Err ... $1,351 psf ... $1-psf decrepancy again?


    Southbank
    Address ................................. psf ................ Area ........ Price .......... Contract Date
    881 North Bridge Road #38-09 ..... $1,351 psf ..... 614 sqft .... $828,000 ..... 4 Dec 09

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    Default GOLDEN MILE COMPLEX TO BE EN ENBLOC! GOOD NEWS FOR SOUTHBANK!

    GOOD NEWS FOR SOUTHBANK!


    Ageing malls going for en bloc sale
    Golden Mile Complex is selling with a reserve price of $1,300 psf
    Tan DawnWei
    The Sunday Times
    Sunday, 10 January 2010


    Golden Mile Complex

    It may be early days yet but en bloc fever could be making a comeback, and not just for home-owners.

    At least two ageing malls are trying for collective sales now that the economic crisis looks to have blown over.

    Katong Shopping Centre in East Coast Road has appointed a marketing agent, the Dennis Wee Group. Its collective sale committee has held at least four meetings with the agent in the past 3 months.

    At Golden Mile Complex in Beach Road, unit owners said property agents from PropNex went around a few months ago to collect signatures from anyone interested in selling their shops, offices or residence.

    Owners said the agency promised them a high reserve price of $1,300 psf, double what was being transacted then.

    Mr Winston Low, chairman of Katong Shopping Centre’s collective sale committee, said the mall’s owners talked about selling as far back as 1996. But it was not until 2007 that they decided to take action.

    ‘The surrounding area was already developed, and we felt it was a good time to try,’ he said, referring to the many residential projects that have come up in the vicinity. You see a lot of successful stories but also lots of disputes. We were very careful,’ he said.

    The committee received approval from more than 80% of the 410 owners. About 30% of the 36-year-old mall is owned by Singapura Developments, a subsidiary of City Developments.

    Mr Jimmy Teng, investment sales director at Dennis Wee Group, believes the 90,000 sqft site might be prime for another mall – one that is less ‘overwhelming’ than the nearby Parkway Parade.

    Mr Low said the committee is working out the apportionment details and has set a reserve price of $2,000 psf.

    Apportionment is always the biggest challenge facing a collective sale for mixed developments with multiple owners.

    For instance, shop units on the ground floor or those with frontage would likely demand a larger share of the pie compared to less visible units.

    Relying on share values and strata areas is not enough, and professional valuations are often needed when doing the sums, said property experts.

    ‘The challenges may be overcome if the profit element is immense. Part of the solution to overcoming that is to incur more money to get valuers in,’ said Mr Karamjit Singh, managing director of Credo Real Estate.

    Property consultant Steven Ming thinks there may be a few launches of mixed-development collective sales this year. ‘We will still need to hold our breath and see if a transaction will materialise as there generally is still a disconnect in price expectations between en bloc sellers and buyers,’ said Mr Ming, Savills’ director of investment sales and prestige homes.

    Only a few commercial buildings, including Kim Seng Plaza, Kim Tian Plaza and Ming Arcade, have been sold en bloc in the past few years.

    Others, like Paramount Hotel and Shopping Centre, Roxy Square and Parklane Shopping Mall, tried to jump on the bandwagon during the last property boom, but with no success – and, for now, are not trying to do so again.

    Mr Ho Eng Joo, Colliers International’s executive director for investment sales, believes land values are not high enough yet for most owners of mixed developments to bite.

    The old malls sit on prime land, and the owners are in no great hurry. Still, the price must be right to draw interest from developers.

    ‘If owners can get their act together, fulfil all the amended laws, get consensus, then developers will of course be keen to look at these developments,’ said Mr Ho.

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    Quote Originally Posted by Property_Owner, 25 January 2010 9.21 pm
    Btw I was just told a studio had been sold @ 1438psf.
    Southbank's resale nëw hïgh $1,438 psf is surely nicer than last high $1,351.

    38, sum fatt! Fatt ah!

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    Default SOUTHBANK CLOSE TO TOP






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    I've always loved Southbank's artist impression.... however the finished product leaves some to be desired. It looks 'tired' and 'worn' for some reason I can't quite get a grasp of.

    It looks kinda dense and reminiscent of People's Park Complex. The Riverine nearby gives a much more spacious and airy feel.

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    Quote Originally Posted by mcmlxxvi
    I've always loved Southbank's artist impression.... however the finished product leaves some to be desired. It looks 'tired' and 'worn' for some reason I can't quite get a grasp of.

    It looks kinda dense and reminiscent of People's Park Complex. The Riverine nearby gives a much more spacious and airy feel.
    Find that it looks vaguely similar to MOE Headquarters in Buona Vista?
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @

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    southbank seems kinda crammed and reminds me of those condos in HK

    Quote Originally Posted by mcmlxxvi
    I've always loved Southbank's artist impression.... however the finished product leaves some to be desired. It looks 'tired' and 'worn' for some reason I can't quite get a grasp of.

    It looks kinda dense and reminiscent of People's Park Complex. The Riverine nearby gives a much more spacious and airy feel.

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    Quote Originally Posted by mcmlxxvi
    I've always loved Southbank's artist impression.... however the finished product leaves some to be desired. It looks 'tired' and 'worn' for some reason I can't quite get a grasp of.

    It looks kinda dense and reminiscent of People's Park Complex. The Riverine nearby gives a much more spacious and airy feel.
    I thought Riverine is like a HDB point block with the Grey block at the roof top seems too big. The soho block compliment the highrise apartment block which gives it the uniqueness as a whole. It should be quite a nice sight at night with lights from both the SOHO and apartment blocks when view from nicoll highway.

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    Same here. I thought it was a HDB all these while. Until the fencing all up before I realise it is a condo.

    Which is worse, Condo that looks like HDB or Condo that doesn't look as impressive as the drawing? Haha.




    Quote Originally Posted by DC33_2008
    I thought Riverine is like a HDB point block with the Grey block at the roof top seems too big. The soho block compliment the highrise apartment block which gives it the uniqueness as a whole. It should be quite a nice sight at night with lights from both the SOHO and apartment blocks when view from nicoll highway.

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    Quote Originally Posted by Squall8888
    Same here. I thought it was a HDB all these while. Until the fencing all up before I realise it is a condo.

    Which is worse, Condo that looks like HDB or Condo that doesn't look as impressive as the drawing? Haha.
    It is not too far off from the artiste impression of Southbank.



    To me, the location and view to the surrounding is more important.


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    Eh... These 2 pictures are world apart. One has building, one showing the black river.





    Quote Originally Posted by DC33_2008
    It is not too far off from the artiste impression of Southbank.



    To me, the location and view to the surrounding is more important.


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    Quote Originally Posted by Squall8888
    Eh... These 2 pictures are world apart. One has building, one showing the black river.
    Not comparing these two photos. Trying to compare the first photo with the completed building in an earlier post.

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    Quote Originally Posted by DC33_2008
    It is not too far off from the artiste impression of Southbank.
    Don't mean to nitpick but the artist impression shows the bay window sections all glass covered, giving the building a continuous classy glassy facade look.

    The real product ... well.

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    Quote Originally Posted by mcmlxxvi
    Don't mean to nitpick but the artist impression shows the bay window sections all glass covered, giving the building a continuous classy glassy facade look.

    The real product ... well.
    It does show the bay window for some of the units like the penthouse. Can one sue the developer for misrepresentation?

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    Quote Originally Posted by DC33_2008
    It does show the bay window for some of the units like the penthouse. Can one sue the developer for misrepresentation?
    I don't think you can in this case - because 'artist impression' is at best, an impression. Furthermore, it's an artist's. Not an architect's impression.

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    Quote Originally Posted by mcmlxxvi
    I don't think you can in this case - because 'artist impression' is at best, an impression. Furthermore, it's an artist's. Not an architect's impression.
    In fact someone had observed that the soho block is lower in the picture than the as-built building. This has great impact on those who bought units on the mid floor of the stack next to the soho block thinking that they will have a view towards the north. On the other hand, they may be lucky as they will be protected from the afternoon's sun.

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    of course not lah... they always put a clause that the pictures are for illustration purposes only.. anyway, why you want to sue? from far, I can see that the building really stand out and is quite nice..



    Quote Originally Posted by DC33_2008
    It does show the bay window for some of the units like the penthouse. Can one sue the developer for misrepresentation?

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    Quote Originally Posted by Squall8888
    of course not lah... they always put a clause that the pictures are for illustration purposes only.. anyway, why you want to sue? from far, I can see that the building really stand out and is quite nice..
    Just asking a general question.I like it too!

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    Quote Originally Posted by Reporter, 4 weeks ago
    Southbank's resale nëw hïgh $1,438 psf is surely nicer than last high $1,351.

    38, sum fatt! Fatt ah!
    Caveat for $1,438 psf not out yet. So fat, it's only $1,360 psf.


    Southbank
    Address ................................. psf ................ Area ........ Price .......... Contract Date
    881 North Bridge Road #35-06 ..... $1,360 psf ..... 592 sqft .... $805,000 ..... 3 Feb 10

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