Tag Archives: Bukit timah

Toh Tuck Site attracted overwhelming number of bids

An overwhelming 24 bids were submitted for the tender of a residential plot in Toh Tuck Road — the second highest number of bids submitted in a residential government land sales (GLS) tender since 2009, when the tender for a parcel in Westwood Avenue attracted 32 bids.

Malaysian property developer SP Setia International put in the highest bid at S$265 million — S$939 per square foot per plot ratio (psf ppr). In second place was Singhaiyi Investments with a bid of S$260.2 million (or S$922 psf ppr); and in third place, Centrex Developments with a bid of S$250.9 million (or S$889 psf ppr).

In November 2012, World Class Developments, a unit of Aspial Corporation, won the tender with the highest price of 23 bids for an Upper Bukit Timah plot. The 60-year leasehold was developed into the “retirement resort”, The Hillford.

The 18,721.4 square metre (sq m) site can yield a maximum gross floor area of 26,210 sq m, or about 325 units — a manageable size for property developers. SP Setia plans to build a five-storey 320-unit development on the plot.

The top bid translates to a break-even price of about S$1,450 psf, and launch price of about S$1,600 psf.

Hunger for sites among developers and an expectation of a turnaround in the market are possibly the key factors that intensified the bidding, besides the attractiveness of the site and the affordable capital outlay. The recent easing of cooling measures and the positive reading of the Q1 2017 flash estimates are possible underlying contributory factors.

Condo @ King Albert Park MRT for sale

Blossomvale, nicely tucked into the greenery and the serene King Albert Park/Dunearn Road. Mins to Methodist Girls School (MGS). Cosy home in Bt Timah enclave. Close to amenities like Cold Storage and shopping areas, it is a great buy! Call David King for viewing details


Bukit Timah House for rent at only $4K per month

Looking for a cool home for stay with greens? Located in the serene estate of Eng Kong Gardens this is a nIce interior of 2-storey terrace with 3-storey 5-bedroom house. Avail now @ $4K negotiable. 4000 sqft of living area at $1psf. Cheap!





GCB site in Cluny Hill area sold for S$21.52M

A plum vacant freehold site of 15,097 sq ft in the Cluny Hill Good Class Bungalow Area is being sold for S$21.52 million or S$1,425 per square foot based on the land area.

The property is being sold by Standard Chemical Corporation. The buyer is Aston Holdings, Realstar Premier Group, which brokered the transaction, told BT.

A company search revealed that Aston is 90 per cent owned by Tan Koo Chuan, who also controls developer Yi Kai Group. Based on caveats data, the Cluny Hill property was previously transacted in 2005 at S$6.64 million. The site includes three conservation trees. The transacted price of S$21.52 million is lower than the S$24 million that the seller is understood to have looked for earlier this year.

The S$1,425 psf on land area at which the property is being sold is lower than the S$1,659 psf at which a GCB along Cluny Road facing the Botanic Gardens was transacted at in February 2014. Market watchers suggest one factor for the lower price for the Cluny Hill property is that there is a power station next door.


URA calls for proposals for Rail Corridor

The Urban Redevelopment Authority (URA) on Wednesday (Mar 18) launched a request for proposals from design professionals to develop a Concept Master Plan and concept proposals for Singapore’s Rail Corridor.

Over the past three-and-a-half years, URA has been engaging different segments of the community to gather feedback on the 24-km long Rail Corridor spanning the north to south of Singapore. These have been distilled into a set of planning and design goals.

URA said in a news release that the proposals should have “nature and greenery, celebration of heritage, and connectivity as hallmarks of the Rail Corridor experience”. The proposals should also be sensitive to local context, the authority said.

“Retaining and enriching the signature ‘green corridor’ experience is also one of the key requirements,” URA added.

Mr Ng Lang, CEO of the URA, said:”Our intention is to continue to sensitively stage the development of this project with the community, and not rush into developing the whole stretch at one go.”

Participating teams have to propose designs for four key activity nodes and two special interest areas along the Rail Corridor:

  • Buona Vista near one-north: This should become a vibrant community space for the nearby business park and research community, as well as residents of Queenstown neighbourhood, said URA.
  • Bukit Timah Railway Station area: The green heart of the Rail Corridor should be complementary to its idyllic natural setting anchored by the conserved Bukit Timah Railway Station. This is where occasional community events can be held, URA said. At most other times, it can be a place of retreat and where one can enjoy the serene, green landscape.
  • Former Bukit Timah Fire Station: The former Bukit Timah Fire Station and quarters will become a new gateway into the Rail Corridor, URA said. Buildings within the fire station site should be retained and a new pedestrian link should be provided for visitors to explore parks fringing the Bukit Timah Nature Reserve such as Dairy Farm Nature Park and Bukit Batok Nature Park. There could also be linkage to nearby heritage sites such as the Old Ford Factory and site of the Battle of Bukit Timah, which are steeped in World War II history, URA said.
  • Kranji (opposite Kranji MRT station): This is envisioned this to become the northern gateway into the Rail Corridor, and could be a place for community events. Its design should complement and be sensitive to key landmarks in the area such as the Singapore Turf Club, Kranji War Memorial, and Mandai Mangroves, URA stated.
  • Adaptive reuse of the former Tanjong Pagar Railway Station: This national monument should become the most prominent and important gateway into the Rail Corridor, said URA. Participating teams should consider how the railway station can be put to adaptive reuse as a community building for the next 20 years, pending the development of the Greater Southern Waterfront.
  • Urban-green-blue tapestry at Choa Chu Kang: The stretch of the Rail Corridor at Choa Chu Kang that is adjacent to the Sungei Pang Sua Canal provides an opportunity to weave a unique urban-green-blue tapestry in the precinct, said URA. Currently, that stretch has low plant biodiversity. Participating teams will need to come up with innovative design concepts to enhance and integrate that segment of the Rail Corridor with Sungei Pang Sua to create an ecologically richer and more vibrant natural environment, and merge it seamlessly with future housing design in the area.

URA said there will be a 2-stage tender selection process and successful teams of consultants will be announced in October. More information can be found at URA’s website.


Hiap Hoe sells entire condo to parent firm

A downbeat property market has led to the sale of a high-end condominium project at a lower price.

Developer Hiap Hoe is selling its entire luxury condominium in Balmoral area near Orchard Road to its controlling shareholder Hiap Hoe Holdings.

The latter, which owns 69.85 per cent of mainboard-listed Hiap Hoe, is buying all 48 units of Treasure on Balmoral for $185 million or about $1,789 per square foot for the 103,439 sq ft strata area development.

Hiap Hoe said in a statement that its attempts to sell the units have been made even more challenging by the several rounds of cooling measures introduced by the Singapore government which have dampened the local property market.

– See more at: http://www.straitstimes.com/news/business/companies/story/hiap-hoe-sells-treasure-balmoral-controlling-shareholder-185m-20141208#sthash.y7UpygYi.dpuf

Treasure on Balmoral

Da Vinci Building sold for $58M

SIM Lian Holdings Pte Ltd has bought the Da Vinci building at 191 Upper Bukit Timah Road for S$58 million.

The seller, a unit of high-end furniture retailer Da Vinci Holdings Pte Ltd, will be vacating the property, which it has been using as its showroom.

When contacted by The Business Times, Ken Kuik, managing director of Sim Lian Holdings, said: “For now, this will be an investment property. We’re going to lease out the building after the seller moves out.”

Sim Lian Holdings, a privately owned vehicle of the Kuik family, holds a majority stake in mainboard-listed Sim Lian Group.

The sale of Da Vinci building was brokered by ERA Legends Division, a member of Prime Group.

The Da Vinci building is right next to Sim Lian Holdings’ headquarters building. Both properties are on freehold sites and have fully tapped the 1.4 plot ratio allowed for the sites, which are zoned for commercial use under Urban Redevelopment Authority’s Master Plan 2014.

“In the long term we could amalgamate the two sites and redevelop the combined land,” reckons Mr Kuik.

Da Vinci building has a land area of 21,415 sq ft and gross floor area (GFA) of nearly 30,000 sq ft.

The building has four storeys, an attic and a basement (housing 12 car park lots)

Sim Lian’s HQ building next door has GFA of about 52,000 sq ft. The company and its listed vehicle occupy the upper levels of the four-storey building. The ground floor is leased to furniture, electronics and IT retailer Courts.

Da Vinci is understood to have signed a lease for about 9,000 sq ft of retail space at Thong Sia Building at Bideford Road, off Orchard Road.

– See more at: http://business.asiaone.com/news/da-vinci-building-upper-bukit-timah-sold-s58m#sthash.H5rMFWPu.dpuf

Dunearn Road Property put up for enbloc sale

KHEAM Hock Gardens, a private residential site located off Dunearn Road, has been launched for sale by tender with a reserve price of S$59 million.

This translates to S$1,430 per sq ft for the site, which has an area of around 41,245 sq ft.

Located at 38 Kheam Hock Road, the existing freehold development comprises 19 apartments.

More than the required 80 per cent of owners have consented to the collective sale.