Property Briefs
Total Page：16
File Type：pdf, Size：1020Kb
PROPERTY PERSONALISED MCI (P) 136/08/2017 PPS 1519/09/2012 (022805) Visit EdgeProp.sg to ˎ nd properties, research market trends and read the latest news The week of July 23, 2018 | ISSUE 840-61 Co-Living Spotlight Gains and Losses Done Deals Hmlet: A novel approach Aurum Land keeps in Unit at The Lumos Older condos’ size and to apartment sharing step with business trends incurs $1.88 mil loss lower psf price a draw in EP6 EP12 EP13 prime districts EP14 SAMUEL ISAAC CHUA/THE EDGE SINGAPORE Super penthouse at The Oceanfront going for $13 mil Sentosa Cove was just starting to see transaction volume and prices recover last year. How will the latest property cooling measures affect Singapore’s playground for the rich and famous and how will it fare vis-à-vis the rest of the prime districts? See our Cover Story on Pages 8 and 9. At The Oceanfront, the biggest penthouse has a 270-degree view and sits at the crown of the tower EP2 • EDGEPROP | JULY 23, 2018 PROPERTY BRIEFS KNIGHT FRANK JIE SHENG HOUSING AGENCY MacPherson Road, two adjoining two-storey shop- EDITORIAL EDITOR | houses; and 534 MacPherson Road, a corner two-sto- Cecilia Chow rey shophouse. CONTRIBUTING EDITOR | With a total site area of 6,089 sq ft, or an individ- Pek Tiong Gee ual land size of 1,500 to 1,529 sq ft, the properties WRITERS | Timothy Tay, Bong Xin Ying, Charlene Chin can be redeveloped to a maximum allowable GFA of DIGITAL WRITER | Fiona Ho 18,267 sq ft. Individual units can be redeveloped into a maximum allowable GFA of 4,501 to 4,589 sq ft. COPY-EDITING DESK | Elaine Lim, Evelyn Tung, The properties are zoned “residential with com- Chew Ru Ju, Shanthi Murugiah mercial at first storey” with a gross plot ratio of 3.0. PHOTO EDITOR | As non-conservation shophouses, they can be rede- Samuel Isaac Chua veloped into four-storey shophouses with commer- PHOTOGRAPHER | Albert Chua EDITORIAL COORDINATOR | cial units on the ground floor and residential units Yen Tan from the second to fourth floors. DESIGN DESK | Purchasers can also explore major additions and Tan Siew Ching, Christine Ong, Monica Lim, alterations or redevelopment asset-enhancement work Tun Mohd Zafi an Mohd Za’abah Summer Green attempts another plots of state land at the intersection of St George’s to maximise the underused plot ratio. Road and Serangoon Road has been launched for sale The shophouses enjoy prominent main road front- ADVERTISING + en-bloc sale at $48 mil MARKETING Summer Green (above, left), a freehold 13-storey at a reserve price of $133.7 million (above, right). age, and are a short seven-minute walk from Tai Seng ADVERTISING SALES development off Balestier Road, is up for collective A short four-minute walk from Boon Keng MRT MRT station. DIRECTOR, COMMERCIAL sale by tender at a reserve price of $48 million. This station, the properties have a total land area of 25,621 The expression of interest will close on Aug 8. OPERATIONS | Diana Lim translates into a land rate of $1,178 psf per plot ra- sq ft. Owners of the 29 units can expect to receive SENIOR ACCOUNT MANAGERS | Janice Zhu, James Chua tio (ppr), inclusive of a development charge of about between $2.3 million and $10.6 million each, accord- Four shophouses on Tessensohn Road ACCOUNT MANAGER | $320,000, according to the marketing agent Knight ing to Terence Ng, key executive officer at Jie Sheng going for $25 mil Bernard Wong Frank. This is the second time this year that Summer Housing Agency. A row of four contiguous freehold conservation shop- SALES STRATEGIST | Han YaoGuang Green is up for collective sale. The developer will be given a three-month call op- houses at Nos 15, 17, 19 and 21 Tessensohn Road With a site area of 14,646 sq ft, Summer Green tion to obtain the in-principle approval from the Singa- is up for sale at a reserve price of $25 million. This CIRCULATION comprises 24 apartments. The site is regular in shape pore Land Authority to purchase 8,611 sq ft of state translates into $1,399 psf on the allowable maximum DIRECTOR | Dominic Kevin Sim and has a frontage of about 30m. It is zoned “residen- land parcels that are within the project boundaries. GFA, according to the marketing agent Cushman & MANAGER | Bryan Kek EXECUTIVES | tial” under the 2014 Master Plan, with an approved The developer could apply for the outline planning Wakefield (C&W). Malliga Muthusamy, Ashikin Kader plot ratio of 2.8. permit from URA to increase the plot ratio of the res- The properties have four individual land titles and CORPORATE Subject to URA approval, the site could be redevel- idential parcels to 2.8 from 1.4. Based on the plot ra- a total land area of 5,958 sq ft. Under the 2014 Mas- CHIEF EXECUTIVE OFFICER | oped into 54 apartments with an average size of 753 tio of 2.8, the GFA will be 95,850 sq ft, and there is ter Plan, it is zoned “residential with commercial at Bernard Tong sq ft each, owing to its maximum permissible gross an estimated development charge of $26.77 million. first storey”, with a gross plot ratio of 3.0. The GFA floor area (GFA) of about 41,010 sq ft. A pre-applica- This works out to $1,711 psf ppr. can be maximised up to 17,873 sq ft. PUBLISHER The Edge Property Pte Ltd tion feasibility study is not necessary. The winning bidder will be awarded with a call The successful bidder can efficiently construct a 150 Cecil Street #13-00 Ian Loh, executive director and head, investment and put option. six-storey rear extension over the four land plots. This Singapore 069543 and capital markets, Knight Frank Singapore, says: The shophouses are zoned “residential with com- is subject to the authorities’ approval. Tel: (65) 6232 8688 Fax: (65) 6232 8620 “Balestier is currently undergoing successful reju- mercial on first storey” with a plot ratio of 3.0, whereas Nos 15 and 21 are the original two-storey shop- venation with the opening of Zhongshan Mall, Ibis the residential rows have a plot ratio of 1.4. houses; Nos 17 and 19 each have a part-two-storey PRINTER Singapore Novena and HealthCity Novena. Despite The new development can have an estimated to- front and part-three-storey rear. Each shophouse has KHL Printing Co Pte Ltd recent government cooling measures, the price quan- tal of 130 units, based on an area of 753 sq ft each. a private car park lot. 57 Loyang Drive Singapore 508968 tum is still palatable and a low-risk acquisition to The tender will close on Aug 17. The four shophouses are being held by three sep- Tel: (65) 6543 2222 mid-sized developers.” arate ownerships, and the owners have jointly put Fax: (65) 6545 3333 Summer Green is a 12-minute drive to the CBD Four shophouses on MacPherson Road them up for sale by tender. PERMISSION AND and a 10-minute drive to Orchard Road. up for sale Christina Sim, director of capital markets at C&W, REPRINTS The tender will close on Aug 20. A portfolio of four freehold shophouses on MacPherson says: “Despite the recent cooling measures in the res- Material in The Edge Property Road has been launched for sale with a guide price of idential property market, freehold conservation shop- may not be reproduced in any 29 units at Serangoon Road up for collective $19.6 million, according to marketing agent CBRE. The houses in city-fringe locations have withstood the test form without the written permission of the publisher sale at $133.656 mil properties can be bought as a bundle or individually. of time as favoured long-term investments.” A collection that includes seven freehold shophouses, The portfolio comprises 514 MacPherson Road, The tender will close on Aug 28. — Compiled by 15 terrace houses, four walk-up apartments and three an intermediate two-storey shophouse; 526 and 528 Bong Xin Ying E We welcome your comments and criticism: propertyeditor.sg@ bizedge.com Pseudonyms are allowed but please state your full name, address and contact number for us to verify. Fall in June private new-home sales a result of new high prices, say analysts | BY BONG XIN YING | to become more sluggish, as the high- Finally, 120 Grange saw 42 units trans- for new ECs. Just two months into its er additional buyer’s stamp duty may acted at a median price of $3,159 psf. launch in April, the 628-unit project rivate new-home sales took a hit discourage some investors from enter- Neighbouring and competing pro- is now almost fully sold, with only in June as new projects were being ing the market. Meanwhile, the lower- jects, Affinity at Serangoon and The one unit still available as at end-June. Plaunched at new benchmark prices, ing of the loan-to-value ratio to 75% is Garden Residences, saw relatively according to Christine Sun, head of likely to affect first-timer buyers’ abili- weaker take-up rates, at 10% of their Outlook research and consultancy at OrangeT- ty to purchase homes. They may defer respective total available units, possibly In 2H2018, new home sales are now ee & Tie. their purchase, as more time is needed owing to their benchmark pricing of dependent on launches, some of which The developers’ sales survey by URA to raise the additional capital outlay re- more than $1,500 psf in the Serangoon may be delayed or reduced because of for June showed that they sold 42% quired to make the down payment for North enclave, notes Colliers’ Song.