{"id":101492,"date":"2018-11-21T10:17:27","date_gmt":"2018-11-21T03:17:27","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-minbu-villa-up-for-collective-sale-again\/"},"modified":"2018-11-21T12:02:53","modified_gmt":"2018-11-21T05:02:53","slug":"freehold-condo-minbu-villa-up-for-collective-sale-again","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-minbu-villa-up-for-collective-sale-again\/","title":{"rendered":"Freehold condo Minbu Villa up for collective sale again"},"content":{"rendered":"


\nCompleted in 1981, Minbu Villa comprises 33 apartments and a penthouse. (Photo: Savills Singapore)
\nMinbu Villa, a 10-storey residential development comprising 33 apartments and a penthouse in Novena, is trying its luck at a collective sale again after its earlier attempt in March closed without a winning bid.
\nWhile the freehold condo carries a reserve price of $145.8 million or $1,355 psf per plot ratio (psf ppf), 60 percent of the owners by strata area and share value have signed a supplemental agreement to lower the price to $129.1 million or $1,200 psf ppr, revealed marketing agent Savills Singapore.
\nMore: Minbu Villa Joins En Bloc Frenzy With Reserve Price Of $145.8m
\nThe Singapore Land Authority has also granted in-principle approval for the alienation of an adjoining state land of about 195.9 sq m \u2013 potentially lowering the land rate by another $34 psf ppr.
\nCompleted in 1981, Minbu Villa occupies a 38,426 sq ft site zoned residential under the 2014 Master Plan with a gross plot ratio of 2.8.
\nAccessible via Balestier Road and Moulmein Road, the development enjoys excellent connectivity islandwide via Novena MRT station as well as the Central and Pan Island Expressways.
\nThe freehold condo is also close to four major malls, namely Royal Square at Novena, Velocity @ Novena Square, Square 2 and United Square Shopping Mall.
\n\u201cStrategically located at the highest point of Minbu Road, Minbu Villa presents a choice opportunity to acquire an affordable site with great attributes and unrivalled views of the Novena skyline,\u201d said Suzie Mok, senior director of investment sales at Savills Singapore.
\n\u201cIn addition, the Balestier\/Novena enclave has traditionally been popular with owner-occupiers, investors and expatriates due to its convenient location and the abundance of malls and amenities.\u201d
\nSavills noted that the site could be developed up to 36 storeys with an allowable gross floor area of 107,593 sq ft, subject to the authorities\u2019 approval.
\nIncluding the 10 percent gross floor area for balconies, no development charge is payable for the site due to its high development baseline, it added.
\nThe tender for Minbu Villa closes on 18 December.
\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…Freehold condo Minbu Villa up for collective sale again<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Completed in 1981, Minbu Villa comprises 33 apartments and a penthouse. (Photo: Savills Singapore) Minbu...<\/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-101492","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-qoY","jetpack-related-posts":[{"id":82699,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/minbu-villa-joins-en-bloc-frenzy-with-reserve-price-of-145-8m\/","url_meta":{"origin":101492,"position":0},"title":"Minbu Villa joins en bloc frenzy with reserve price of $145.8m","date":"March 14, 2018","format":false,"excerpt":"\r Completed in 1981, Minbu Villa comprises 33 apartments and a penthouse. (Photo: Savills Singapore) Minbu Villa, a 10-storey freehold residential development in Novena, has been launched for collective sale, said marketing agent Savills on Wednesday (14 Mar). The reserve price of $145.8 million works out to a land rate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81668,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hollandia-in-district-10-sold-for-183-38m\/","url_meta":{"origin":101492,"position":1},"title":"Hollandia in District 10 sold for $183.38m","date":"March 2, 2018","format":false,"excerpt":"\r The owners could receive gross sale proceeds ranging from $3.3 million to $4.2 million. (Photo: Savills Singapore) The 48-unit Hollandia development at the junction of Holland Road and Queensway has been sold through a collective sale to FEC Properties for $183.38 million, or a unit land rate of about\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95087,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-fragrant-gardens-up-for-collective-sale\/","url_meta":{"origin":101492,"position":2},"title":"Freehold condo Fragrant Gardens up for collective sale","date":"July 31, 2018","format":false,"excerpt":"\r The low-rise condominium located off Paya Lebar Road has a reserve price of $65 million. (Photo: Knight Frank) Fragrant Gardens, a low-rise residential development located off Upper Paya Lebar Road has been put up for en bloc sale with a reserve price of $65 million, revealed marketing agent Knight\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110204,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-condo-sales-hit-record-high-in-q2\/","url_meta":{"origin":101492,"position":3},"title":"Luxury Condo Sales Hit Record-High in Q2","date":"August 26, 2019","format":false,"excerpt":"\r Singapore saw 137 luxury condominiums change hands in the second quarter of 2019, or the highest since the Global Financial Crisis. The units were sold for at least $3,000 per sq ft (psf), with the highest unit price rising to over $5,125 psf. This was achieved by a freehold\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95635,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-the-regalia-up-for-collective-sale-at-403m\/","url_meta":{"origin":101492,"position":4},"title":"Freehold condo The Regalia up for collective sale at $403m","date":"August 8, 2018","format":false,"excerpt":"\r Aerial view of The Regalia condominium at River Valley Close. (Photo: CBRE) The Regalia, a freehold condo in District 9, has been put up for en bloc sale with a guide price of $403 million. The price works out to a land rate of $1,892 psf per plot ratio\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55577,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-posts-higher-sales-in-upscale-condos\/","url_meta":{"origin":101492,"position":5},"title":"Singapore posts higher sales in upscale condos","date":"May 22, 2017","format":false,"excerpt":"\r Better sales in 2016 can be attributed to a good selection of choice units in completed developments such as\u00a0Tomlinson Heights, Leedon Residence\u00a0(pictured) and TwentyOne Angullia Park (Image: Artist\u2019s Impression). Sale of luxury condos and private apartments costing at least S$10 million increased to 36 units last year, reported The\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\/101492"}],"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=101492"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/101492\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=101492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=101492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=101492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}