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Thread: Sing Hldgs buys two properties for $77.3m

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    Default Sing Hldgs buys two properties for $77.3m

    Robin Court and Robin Drive bungalow up for collective sale
    By Jonathan Peeris | Posted: 17 August 2010 1702 hrs


    SINGAPORE : Property consultancy Credo Real Estate has launched the tender for a joint sale of the 15-unit Robin Court and an adjoining bungalow at Robin Drive, off Bukit Timah Road.

    The joint sellers are expecting offers in the region of S$66 million to S$74 million.

    That works out to around $1,046-$1,172 per square foot on potential gross floor area.

    Under the 2008 Master Plan, the site is zoned for residential development up to a gross plot ratio of 1.4 and an allowable height of up to 5 storeys.

    Subject to relevant authorities' approval, there is also a potential to purchase about 785 square feet of state land adjoining Robin Court to enlarge the site to over 41,000 square feet.

    Credo's Managing Director Karamjit Singh said the District 10 site is likely to be 'hot'.

    It is located less than 200 metres from the upcoming Stevens MRT station, which is part of the Downtown line, and expected to be operational in 2015.

    The tender for the two properties closes on September 16. - CNA /ls
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @

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    Thumbs up

    This area sure is picking up value... near good schools, MRT (2015) , Supermart, some restaurants etc...
    Looks like the old apartments there are good for investments , any recommendations?/

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    http://www.straitstimes.com/Money/St...ry_580578.html

    Sep 20, 2010

    En bloc site fetches $77.3m, beating estimates


    ANOTHER collective sale completed since the property cooling measures announced at the end of last month has resulted in a better-than-expected price tag.

    Sing Holdings announced yesterday that it had been awarded the tender of the 15-unit Robin Court and an adjoining bungalow in Robin Drive.

    It is paying $77.33 million, which works out to approximately $1,363 per sq ft per plot ratio (psf ppr) for the freehold site.

    The site's key selling point is that it is less than 200m from the upcoming Stevens MRT station - part of the Downtown Line expected to be completed in 2015.

    The site's land area is 40,518 sq ft with a gross floor area of 63,606 sq ft.

    Mr Karamjit Singh, managing director of Credo Real Estate, had expected the offering to do well, projecting offers of between $66 million and $74 million, or about $1,046 to $1,172 psf ppr.

    Given the higher selling price of $77.33 million, the break-even price is estimated to be $1,800 psf and the selling price could be around $2,200 psf.

    About 60 apartment units of an average size of 1,000 sq ft - depending on layout and configuration - can be built on the plot.

    The land is zoned for residential development with a plot ratio of 1.4. No development charge is expected.

    This is third time lucky for the residents of Robin Court and No. 1 Robin Drive. The two properties had been launched for sale in 2007, together with a third property. But there were no takers.

    A second attempt in July 2008 for the two properties again yielded no results.

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    http://www.businesstimes.com.sg/sub/...04592,00.html?

    Published September 20, 2010

    Sing Hldgs buys two properties for $77.3m


    SING Holdings has inked a deal to buy Robin Court and the next door 1 Robin Drive for a total $77.33 million.

    This works out to about $1,363 per square foot of potential gross floor area.

    No development charge is expected, Sing Holdings said in a regulatory filing with the Singapore Exchange yesterday.

    The two freehold District 10 properties have a combined land area of about 40,518 square feet and are zoned for residential use with a 1.4 plot ratio (ratio of maximum potential gross floor area to land area).

    Robin Court involves a collective sale and is subject to approval from the Strata Titles Board.

    The properties were sold through a tender exercise handled by Credo Real Estate and which drew 10 bids. Sing Holdings was the highest bidder. When the tender was launched, the asking price was indicated as $66 million to $74 million.

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    Default MRT

    Quote Originally Posted by Black_Knight
    This area sure is picking up value... near good schools, MRT (2015) , Supermart, some restaurants etc...
    Looks like the old apartments there are good for investments , any recommendations?/
    May I know which line and where is the station?

    Thanks,
    Richard

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