Archive for category: Misc

The Charming Garden, a 999-year leasehold residential development located in District 10, is up for collective sale by public tender at a guide price of $175 million. The site, which is occupied by a four-storey, 32-unit development and spans an area of 7,837 sqm (approximately 84,357 sq ft), boasts of an elevated location amidst an enclave of low-rise landed housing, and is within an area designated for two-storey semi-detached housing under the 2019 Master Plan.

Its key feature includes a five-minute walk away from Farrer Road MRT Station. Amenities such as Empress Road Market and Food Centre, Singapore Botanic Gardens and educational institutions such as Raffles Girls’ Primary School and Hwa Chong Institution are all situated in close proximity.

According to Tang Wei Leng, managing director and head of capital markets and investment services, Singapore at Colliers, the strong attributes of this site have the potential to appeal to both developers and ultra-high-net-worth individuals.

This is further strengthened by recent successes in collective sales within prime locations. An example of this is the successful en bloc sale of Holland Tower, which has illustrated the strong appeal of such plum residential developments within prime districts.

Given that upcoming unit launches in the core central region (CCR) are estimated to be around 22% of total upcoming launches this year, Tang maintains that freehold projects in prime locations are not easy to come by.

Details of nearby properties and other transactional data can be found on EdgeProp’s Landlens tool.

Tengah Plantation Close EC is Singapore’s largest executive condominium development, located in the growing Tengah Town. It is set for completion by 2021 and offers excellent amenities and connectivity, Tengah Plantation EC with easy access to the MRT and expressways.

URA has advised that subject to certain conditions, the redevelopment plan for the site may be changed back to the approved flats’ building form. The gross floor area (GFA) for the new flat or condo must not exceed the verified existing GFA of 7,898.63 sq m (85,020 sq ft), revised up from 7,756.56 sq m (83,491 sq ft) during the previous launch. There is also no land betterment charge, as the site is ineligible for the bonus GFA scheme.

The guide price of $175 million works out to $2,058 per sq ft per plot ratio or $2,074 per sq ft on the land area.

The public tender for the Charming Garden closes on April 14th at 12 PM.

Hence, with all its features and attributes, the Charming Garden is an excellent opportunity for developers and buyers alike, looking to secure a prime piece of real estate within a prime district.