Tag Archives: jiak kim street

Freehold Orchard Condo 5th attempt at Enbloc Windfall

Home owners at freehold condominium Cairnhill Mansions are looking to ride the wave of collective sales as they gear up for their fifth attempt at selling their estate, according to local news media.

The estate in Cairnhill Road consists of a 61-apartment complex with a maximum gross floor area of about 172,240 sq ft, yielding potentially 140 new units in the redevelopment.

At a guide price of $362 million the owners are seeking a higher rate than their last bid in 2011 — translating to $5.7 million each, or about $2,800 per sq ft (psf). Similar projects nearby have sold at between $1,700 psf and $4,000 psf for the past few months.

The estate’s prime address is expected to carry a premium. Not too far away at the former Zouk club address in River Valley area, a developer committed to bid at least $689.4 million for the government reserve site, triggering an URA land sale tender. https://www.ura.gov.sg/uol/media-room/news/2017/Sep/pr17-62

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The Jiak Kim Street site can accommodate 525 apartments in a development up to 36 storeys, with ground floor commercial use.



ZOUK’s lease at Jiak Kim Street is extended till 2015 unless new site is found

The Singapore Land Authority (SLA), Singapore Tourism Board (STB) and Urban Redevelopment Authority (URA) have today announced that Zouk will be allowed an extension of time to facilitate its relocation from Jiak Kim Street.

At the end of its current tenancy on 31 December 2014, Zouk will be granted a final extension of the tenancy at its current premises. The duration of the extension will be tied to Zouk’s ability to secure alternative premises within a specified timeline:

a) If Zouk is able to secure a new location by 30 June 2015, they can be given a final extension up to 31 December 2017 to complete its relocation. An extension up to 2017 will give Zouk sufficient time to undertake renovations or to plan and construct a new structure to house the club at the new site, and relocate thereafter.

b) If Zouk is unable or chooses not to secure a new location by 30 June 2015, the tenancy at Jiak Kim Street will expire on 31 December 2015.