{"id":100340,"date":"2018-10-22T11:05:52","date_gmt":"2018-10-22T04:05:52","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/spanish-village-in-second-en-bloc-sale-attempt-for-882m\/"},"modified":"2018-10-22T12:03:01","modified_gmt":"2018-10-22T05:03:01","slug":"spanish-village-in-second-en-bloc-sale-attempt-for-882m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spanish-village-in-second-en-bloc-sale-attempt-for-882m\/","title":{"rendered":"Spanish Village in second en bloc sale attempt for $882m"},"content":{"rendered":"


\nLocated along Farrer Road in District 10, the freehold condo is close to Dempsey Hill and Holland Village.(Photo: ET&Co)
\nDespite failing to entice any buyers during its first en bloc attempt in June 2018, owners of Spanish Village have relaunched their property for collective sale at the same indicative price of $882 million, reported the New Paper.
\nLocated along Farrer Road in District 10, the freehold condominium stands on a massive 331,457 sq ft site that is close to Empress Road Market and Food Centre. Aside from being near to Dempsey Hill, Holland Village and Chip Bee Gardens, it is also close to Nanyang Primary School.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nAccording to marketing agent Edmund Tie & Co\u2019s senior director of investment advisory Tan Chun Ming, the Land Transport Authority (LTA) has given in-principle approval to redevelop the 226-unit condo into a residential project yielding 703 homes.
\nThe move follows the introduction of new property curbs on 6 July and the Urban Redevelopment Authority\u2019s (URA) announcement on Wednesday (17 Oct) to raise the average unit size and lower the maximum number of houses at new non-landed projects outside Singapore\u2019s Central region.
\nThe higher average unit size of 85 sq m, up from 70 sq m currently, will take effect for development applications submitted from 17 January 2019. A higher average unit size of 100 sq m will also apply to nine areas.
\nHence, the buyer of Spanish Village could avoid the new rules, which aims to \u201csafeguard the liveability\u201d of residential estates by stemming the reduction in unit sizes.
\nThe second attempt also comes after en bloc sales of residential developments fell sharply by 90.71 percent to $353 million in the third quarter compared to $3.8 billion in the preceding quarter.
\nColliers International revealed that there has been 54 en bloc attempts so far this year that have lapsed and failed to attract buyers, including seven with commercial components.
\nFor instance, the Straits Times reported that the en bloc tender for the freehold Windy Heights condo in Kembangan ended on 10 October without any willing buyer.
\nThe tender exercise for Spanish Village will close on 20 November.
\nMore:\u00a0Understanding The En Bloc Process (August 2018)
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Spanish Village in second en bloc sale attempt for 2m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Located along Farrer Road in District 10, the freehold condo is close to Dempsey Hill...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-100340","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-q6o","jetpack-related-posts":[{"id":90394,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spanish-village-in-district-10-up-for-sale-at-882m\/","url_meta":{"origin":100340,"position":0},"title":"Spanish Village in District 10 up for sale at $882m","date":"June 4, 2018","format":false,"excerpt":"\r The 331,457 sq ft site is located near Farrer Road MRT station, Holland Village and Dempsey Hill. (Photo: ET&Co) Spanish Village, a freehold residential project along Farrer Road in District 10, has been put up for collective sale at $882 million, revealed marketing agent Edmund Tie & Company (ET&Co).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/img.youtube.com\/vi\/eOnlX2DIfU8\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":103907,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spanish-village-goes-en-bloc-for-the-third-time\/","url_meta":{"origin":100340,"position":1},"title":"Spanish Village goes en bloc for the third time","date":"February 12, 2019","format":false,"excerpt":"\r The residential property has been relaunched for en bloc sale with the guide price unchanged at $882 million. (Photo: ET&Co) Spanish Village, a 226-unit residential development along Farrer Road, has been relaunched for en bloc sale with the guide price unchanged at $882 million, said marketing agent Edmund Tie\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94525,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-sutton-place-up-for-sale-at-268m\/","url_meta":{"origin":100340,"position":2},"title":"Freehold condo Sutton Place up for sale at $268m","date":"July 24, 2018","format":false,"excerpt":"\r Sutton Place is located close to Farrer Road MRT station, and is also a short drive to the Central Business District and Orchard Road. (Photo: Knight Frank) Sutton Place, a five-storey residential development off Farrer Road, has been put up for sale with a reserve price of $268 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86134,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-olina-lodge-sold-for-230-9m\/","url_meta":{"origin":100340,"position":3},"title":"Freehold Olina Lodge sold for $230.9m","date":"April 23, 2018","format":false,"excerpt":"\r The sale price is 5.0 percent higher than the owners\u2019 reserve price of $220 million, and works out to a land rate of $1,712 psf ppr. (Photo: SRI) The freehold Olina Lodge at 15 Holland Hill has been successfully sold for $230.9 million to Peak Opal, a unit of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122555,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/holland-hill-lodge-up-for-en-bloc-sale-for-25-8mil\/","url_meta":{"origin":100340,"position":4},"title":"Holland Hill Lodge up for en bloc sale for $25.8mil","date":"October 13, 2021","format":false,"excerpt":"\r Located at 5 Holland Hill, the freehold project, Holland Hill Lodge, occupies a 9,033 sq ft site zoned for Residential use. Holland Hill Lodge, a freehold residential development at 5 Holland Hill, has been put up for en bloc sale via public tender, revealed exclusive marketing agent SRI Capital\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/Holland-Hill-Lodge-Photo.jpg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":75425,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-wilshire-launched-for-en-bloc-sale-at-98-07mil\/","url_meta":{"origin":100340,"position":5},"title":"The Wilshire launched for en bloc sale at $98.07mil","date":"December 29, 2017","format":false,"excerpt":"\r The Wilshire, a 20-unit residential development along Farrer Road, has been put up for en bloc sale by tender, carrying an indicative price of $98.07 million or around $1,525 psf ppr, revealed marketing agent Savills Singapore. Built in the 1980s, the development is nestled on a 3,635.3 sq m\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100340"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=100340"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100340\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=100340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=100340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=100340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}