Jalan Besar Plaza To Enbloc For S$390M

The 53,043 sq ft Jalan Besar Plaza is up for collective sale. Estimated selling price is S$390M or S$2,451 psf for the 35-year-old, freehold property.

 The 16-storey commercial and residential building is zoned under Commercial and Residential with a plot ratio of 3.0, under the 2014 Master Plan.

The tender will close on Jan 21, 2016. 53,043 sq ft.

Le Nouvel Ardmore Penthouse S$51M Sale Sets New High Bar

Winner of the Pritzker Architecture Prize 2008 and Wolf Prize in Arts 2005, Le Nouvel Ardmore's 13,875 sq ft penthouse was sold for an absolutely record price of $51M | S$3,676 psf, in April this year. This is a record absolute price quantum for a penthouse in Singapore.

Le Nouvel Ardmore by Wing Tai is a 33-storey single-tower luxurious freehold condominium along Ardmore Road, Singapore. It received Temporary Occupation Permit a year ago.

THE buyer of the S$51 million at Le Nouvel Ardmore penthouse is believed to be Sun Tongyu, one of the founders of Alibaba. He was the former president of Alibaba Group's consumer-focused e-commerce site Taobao. 

The penthouse unit sits on the top two levels of the 33-storey freehold project. Included in the 13,875 sq ft floor space is a roof terrace of 5,000 sq ft. Based on the brochure, there are five bedrooms, a family area and a study area on the lower deck, level 32. A private pool, private foyers, roof terrace, a gym and an entertainment area are on the upper deck, level 33.

On the assumption that the roof terrace is assigned a per square foot value equivalent to one-third that of the indoor area, the effective price is around S$5,000 psf.
Penthouses larger than 13,000 sq ft are rare in Singapore. 

Wing Tai has moved only four units in the 43-unit freehold condo, designed by Jean Nouvel, who clinched the Pritzker Architecture Prize in 2008.

If this is anything to go by, it is a sure sign that the Singapore property market is biding time. Buyers are waiting on the sidelines and some may decide to take the plunge when conditions are right.

GCB Site At Windsor Park Up For Sale

A freehold Good Class Bungalow (GCB) site at 53 Windsor Park Road is up for the sale by public tender. The indicative price is S$27 million, or S$1,280 psf.

The part single storey and part double storey bungalow occupies a land area of 21,091 sq ft. Built in the 1950s, it sits on elevated grounds.

The tender closes at 3pm on Oct 21.

Around its vicinity are other landed housing and low-rise condominiums. The property enjoys proximity to Thomson Plaza, Sin Ming Plaza, and shop-houses along Upper Thomson Road.

There are only 34 GCB plots in the area. Rarely do any of these GCB come up for sale. In the past few years, only two recorded transactions in the area were recorded.


Past Transactions

January 2013 - A 22,481 sq ft site sold for S$25.3 million;

December 2012 - A 19,280 sq ft property sold for S$27 million.


Caveats for 25 GCB deals worth a total of S$543 million were lodged in 2014.

So far, 20 GCBs with a total value of S$485 million have been transacted this year. The numbers are expected to grow, given a rise in activity for this segment lately, on the back of more realistic asking prices from sellers.


Source: The Business Times

Queen Astrid GCB Site Up For Estate Sale

A freehold Good Class Bungalow (GCB) redevelopment site in Queen Astrid Park with an indicative price of S$49-51 million is up for estate sale by tender.

This works out to S$1,399 to S$1,456 psf.

The 35,011 sq ft site at the junction of Queen Astrid Park and Coronation Road West is currently occupied by a single-storey detached house.

The indicative price is relatively tempting when matched against the peak median price of S$1,749 per sq ft recorded in Q2 of 2014.

In Q2 of this year, the median price for detached houses with land area of 15,000 sq ft and above in District 9, 10 and 11 is S$1,410 psf.

GCBs are highly coveted here due to its scarcity, with only some 2,500 islandwide.

The GCB site at 2 Queen Astrid Park would not have been made available had it not been an estate sale.

The Queen Astrid Park site is appealing because of its exclusivity, elevated grounds, lush greenery, tranquil surroundings and easy accessibility to Holland Village and Orchard Road.

There is also the potential for sub-division into two smaller plots, a rare attribute. The GCB site enjoys wide double road frontages onto Queen Astrid Park and Coronation Road West.

The tender for the site closes on Nov 12.

Total transactions in GCB areas rise to at least 11 deals in Q2 of 2015, amounting to S$282.3 million.

Just four deals totalling S$95.3 million will transacted in Q1 of this year.

GCB Recent Transactions:

45 Belmont Road
Site: 31,125 sq ft
Sold at S$1,420 psf (June 2015)

26 Bin Tong Park
Site: 21,426 sq ft
Sold at S$1,400 psf (June 2015)

21, Queen Astrid Park
Site: 27,373 sq ft
Sold at S$1,169 psf (July 2015)
Transaction Price: S$32 million

Source: Business Times

Several Landed Properties On Auction

A couple of landed residential properties will be featured at an auction towards the end of this month.

1.    Freehold Single-storey Bungalow
25 Branksome Road, District 15.
Site area: 13,844 sq ft.
Indicative price: $15M to $17M
S$1,084 to S$1,228 psf on land area.
For sale by owner.

The site is large enough to be redeveloped into either a detached house and a pair of semi-detached houses, or two detached houses. The frontage is 28 metres wide. 

2.    Freehold 2-storey Semi Detached House
7 Lengkok Merak, District 10.
Site area: 4,630 sq ft.
Indicative price: $8.9M to $9.3M
S$1,922 – S$2,009 psf on land area.
Estate Sale

Sited in the One Tree Hill area, the old two-storey semi-detached house is on high ground and flat in contour. It also has a front and side garden. The property can be redeveloped into a new two-storey semi-detached house with a swimming pool. It is near the future Orchard Boulevard MRT Station on the Thomson-East Coast Line. 

3.    Freehold 3-storey Semi-Detached House
21 Lucky Crescent District 16.
Site area: 3,583 sq ft
Indicative price: S$3.94M to S$4M
Estate Sale.

The property in the Upper East Coast area has five bedrooms and a maid's room.

4.    Freehold 3-storey Semi-Detached House
21 Toh Avenue, District 17
Site area: 3,050 sq ft.
Indicative price: S$3M to S$3.1M
Mortgagee Sale

17 properties totalling S$45.1 million were sold at auctions in Singapore in the first half of this year, which is comparable to the S$45.4 million successfully auctioned off in the second half of last year.

Source: Business Times