Please enlighten us!Originally Posted by Property_Owner
Please enlighten us!Originally Posted by Property_Owner
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.Originally Posted by iamforum
Who knows? Maybe very soon?Originally Posted by Squall8888
Southbank is now $1,350 psf. It's just $250 psf away from $1,600 psf.
Originally Posted by Property_owner, Southbank, 9.27 am
I got a few offers at $1,300psf plus..lucky I rejected!Originally Posted by Reporter
Originally Posted by jasonlcl
This unit sold is a #38. You mean you own the PH?
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.
Originally Posted by Property_Owner
You sure? So fast 1400psf? haha. Huat ahOriginally 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.
Originally Posted by Property_Owner
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.Originally Posted by Squall8888
Southbank #2x-08 kallang bayview, 2bdrm, 958sq ft at $1250psf. Any taker? Its Christmas !!
Err ... $1,351 psf ... $1-psf decrepancy again?Originally Posted by Reporter, 2 weeks ago
Southbank
Address ................................. psf ................ Area ........ Price .......... Contract Date
881 North Bridge Road #38-09 ..... $1,351 psf ..... 614 sqft .... $828,000 ..... 4 Dec 09
Assuming 10% increase after TOP, will hit 1500 psf?
Originally Posted by Reporter
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.
Southbank's resale nëw hïgh $1,438 psf is surely nicer than last high $1,351.Originally Posted by Property_Owner, 25 January 2010 9.21 pm
38, sum fatt! Fatt ah!
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.
southbank seems kinda crammed and reminds me of those condos in HK
Originally Posted by mcmlxxvi
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.Originally Posted by mcmlxxvi
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.
Originally Posted by DC33_2008
It is not too far off from the artiste impression of Southbank.Originally Posted by Squall8888
To me, the location and view to the surrounding is more important.
Eh... These 2 pictures are world apart. One has building, one showing the black river.
Originally Posted by DC33_2008
Not comparing these two photos. Trying to compare the first photo with the completed building in an earlier post.Originally Posted by Squall8888
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.Originally Posted by DC33_2008
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?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.Originally Posted by DC33_2008
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.Originally Posted by mcmlxxvi
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..
Originally Posted by DC33_2008
Just asking a general question.I like it too!Originally Posted by Squall8888
Caveat for $1,438 psf not out yet. So fat, it's only $1,360 psf.Originally Posted by Reporter, 4 weeks ago
Southbank
Address ................................. psf ................ Area ........ Price .......... Contract Date
881 North Bridge Road #35-06 ..... $1,360 psf ..... 592 sqft .... $805,000 ..... 3 Feb 10