Originally Posted by
gn108
I agree it'll be tough to en bloc these developments but not impossible, once the land prices rises over the ever depreciating building structures.
(The old and sickly must give way to the new - regardless of how unique.)
There are many factors to determine if en bloc is practical.
Land size (and shape), per plot ratio of the land (ppr = land price), plot ratio (PR=built-up intensity) and location. (PSF in the area is another story but affects the owners/developers motivation)
Most variable will be the PPR. (Even slopes/hills can be worked by the developers eg Peak@ Balmeg, Flamingo Valley or Sophia Residences)
For eg. Flynn Park is 208,433k sf of land. At 1.4x PR, that gives 291,806 of potential GFA. Key question is what is the ppr or land price? $650ppr? or $690ppr? or more esp with MRT and other indicators mentioned before.
Let's take a ppr of $670, that gives a land value is $196m. With 72 units, thats $2.72m per unit.
But I suspect it'll take more to entice to part with the land - that is the gamble in investing in EB potential properties.
(Benchmarks - Goodrich Park went EB at $629 ppr (Serangoon/with MRT)
Pender Court went EB at $1008 ppr (D4/with CCL coming)
Culford Gardens went EB at $632 ppr (Siglap/with no MRT)