{"id":100496,"date":"2018-10-25T11:03:44","date_gmt":"2018-10-25T04:03:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-mansion-relaunched-for-collective-sale-at-lower-price\/"},"modified":"2018-10-25T12:03:06","modified_gmt":"2018-10-25T05:03:06","slug":"gilstead-mansion-relaunched-for-collective-sale-at-lower-price","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-mansion-relaunched-for-collective-sale-at-lower-price\/","title":{"rendered":"Gilstead Mansion relaunched for collective sale at lower price"},"content":{"rendered":"


\nThe 24-unit residential development has been relaunched for collective sale at a guide price of $65 million. (Photo: Teakhwa Real Estate)
\nIn a bid to beat the clock before the new rules on unit sizes outside the central area kick in as well as the chill of property cooling measures, the owners of Gilstead Mansion have relaunched the 24-unit development for collective sale at a lower price of $65 million, reported the Business Times.
\nDown $3 million from its previous guide price in June, the revised price works out to $1,524.70 psf per plot ratio (psf ppr) with no development charge payable.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nNestled on a 35,751 sq ft site, the development has an existing gross floor area of 42,632 sq ft. It is part of the Stevens-Chancery area, in which the increased average unit size of 100 sq m rule would apply for development applications submitted on or after 17 January 2019.
\nMarketing agent Teakhwa Real Estate noted that the site could yield about 56 new units under the current 70 sq m rule. As per Land Transport Authority confirmation, no pre-application feasibility study for traffic impact is required for the site.
\n\u201cThe expected land rate is undemanding in view of the high price transacted for the surrounding Dunearn Gardens at $1,962 psf and the 99-year leasehold Chancery Court at $1,610 psf,\u201d said Teakhwa Real Estate.
\n\u201cThis is an opportunity for developers who target good smallish prime sites at reasonable pricing in this en bloc cycle. The potential buyer may possibly make it on time to develop the site under the current Urban Redevelopment Authority planning guidelines.\u201d
\nThe authorities revised the guidelines such that the average size of new private homes outside the central area would measure at least 85 sq m. However, nine areas would face the 100 sq m rule \u2013 Stevens-Chancery, Marine Parade, Balestier, Joo Chiat-Mountbatten, Pasir Panjang, Telok Kurau-Jalan Eunos, Kovan-How Sun, Loyang and Shelford.
\nThe tender for Gilstead Mansion closes on 22 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…Gilstead Mansion relaunched for collective sale at lower price<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 24-unit residential development has been relaunched for collective sale at a guide price of...<\/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-100496","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-q8U","jetpack-related-posts":[{"id":103483,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-projects-seek-to-revive-en-bloc-attempt-at-lower-prices\/","url_meta":{"origin":100496,"position":0},"title":"Two projects seek to revive en bloc attempt at lower prices","date":"January 30, 2019","format":false,"excerpt":"\r Gilstead Court, a residential development at the Novena-Newton area in District 11, has been relaunched for collective sale via tender at a potentially lower reserve price, revealed marketing agent JLL on Tuesday (29 Jan). The project\u2019s Collective Sale Committee (CSC) has proposed slashing the reserve price to $153 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89989,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-mansion-in-district-11-up-for-sale-for-at-least-68m\/","url_meta":{"origin":100496,"position":1},"title":"Gilstead Mansion in District 11 up for sale for at least $68m","date":"May 31, 2018","format":false,"excerpt":"\r The freehold project sits on a 35,751 sq ft site and is close to the Newton, Novena and Little India MRT stations. (Photo: Teakhwa Real Estate) Gilstead Mansion, a 24-unit freehold condominium in District 11, has been launched for collective sale via public tender, with the owners hoping to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70106,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/crystal-tower-relaunched-for-collective-sale-at-lower-price\/","url_meta":{"origin":100496,"position":2},"title":"Crystal Tower relaunched for collective sale at lower price","date":"October 26, 2017","format":false,"excerpt":"\r Built in the 1970s, the 28-unit Crystal Tower is now going for $138 million. (Photo: Edmund Tie) Crystal Tower, a freehold residential site at Ewe Boon Road, has been put up for en bloc sale again at $138 million, marketing agent Edmund Tie & Co. said on Thursday (26\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121263,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/siglap-shopping-centre-relaunched-for-en-bloc-sale-price-unchanged-at-120mil\/","url_meta":{"origin":100496,"position":3},"title":"Siglap Shopping Centre relaunched for en bloc sale, price unchanged at $120mil","date":"August 5, 2021","format":false,"excerpt":"\r Siglap Shopping Centre relaunched for en bloc sale, price unchanged at $120milThe site could be developed into a \u201cprominent\u00a0mixed-use development\u00a0that caters to the lifestyles of residents in the vicinity. Photo: OrangeTee Advisory Siglap Shopping Centre along East Coast Road has been relaunched for collective sale via public tender with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/Siglap-Shopping-Centre-crop.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":99490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/la-ville-condo-relaunched-with-lower-asking-price-of-140-6m\/","url_meta":{"origin":100496,"position":4},"title":"La Ville condo relaunched with lower asking price of $140.6m","date":"October 10, 2018","format":false,"excerpt":"\r La Ville is a 40-unit freehold condominium at Tanjong Rhu Road. (JLL) $1,424 psf ppr, or $1,361 psf ppr after taking into account the 10 percent bonus balcony space. A development charge of about $7.2 million is payable as well. Marketing agent JLL revealed on Tuesday (9 Oct) that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105135,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/casa-sophia-relaunched-for-en-bloc-sale-at-lower-price\/","url_meta":{"origin":100496,"position":5},"title":"Casa Sophia relaunched for en bloc sale at lower price","date":"March 19, 2019","format":false,"excerpt":"\r Most of the owners agreed to a lower asking price of $30 million or $1,158 psf ppr, revealed marketing agent ERA. The 12-unit Casa Sophia has been relaunched for collective sale by private treaty, after most of the owners agreed to a lower asking price of $30 million or\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\/100496"}],"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=100496"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100496\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=100496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=100496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=100496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}