{"id":101804,"date":"2018-11-29T11:27:40","date_gmt":"2018-11-29T04:27:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/row-of-apartments-in-phoenix-road-up-for-collective-sale-at-42m\/"},"modified":"2018-11-29T12:03:18","modified_gmt":"2018-11-29T05:03:18","slug":"row-of-apartments-in-phoenix-road-up-for-collective-sale-at-42m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/row-of-apartments-in-phoenix-road-up-for-collective-sale-at-42m\/","title":{"rendered":"Row of apartments in Phoenix Road up for collective sale at $42m"},"content":{"rendered":"


\nThe site is located near Phoenix LRT station and Bukit Panjang MRT station and bus interchange. (Photo: Colliers International)
\nA row of apartments with commercial shops along Phoenix Road in Bukit Panjang has been put up for collective sale with an indicative price of $42 million, revealed marketing agent Colliers International.
\nThis works out to a land rate of $617 psf per plot ratio (psf ppr), or $566 psf ppr after taking into account the seven percent bonus balcony gross floor area. No development charge is payable.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nWith a 99-year leasehold tenure that began on 1 January 1969, the property comprises a row of 36 units, 12 commercial shops and 24 apartments spread across two three-storey blocks. Each unit measures between 83 sq m and 91 sq m.
\nThe properties sit on a 5,853.1 sq m site zoned residential under the 2014 Master Plan with a gross plot ratio of 1.4. The site could yield 84 new housing units averaging 950 sq ft each, subject to the relevant authority\u2019s approval.
\nLocated near Phoenix LRT station, the property is just eight minutes\u2019 walk to Bukit Panjang MRT station and bus interchange. It is well-served by major arterial roads, Bukit Timah Expressway, the Kranji Expressway and the Pan Island Expressway. The Tuas Checkpoint is a 20-minute drive away.
\nColliers noted that each owner stands to receive about $1 million to $1.5 million in gross sale proceeds upon the successful sale of the property.
\n\u201cThe interesting location of this residential site near the verdant rainforest of the Bukit Timah Nature Reserve and the green Rail Corridor would offer the successful tenderer an opportunity to create a cosy retreat with unblocked views of the lush greenery. It could be an urban oasis that is one with nature, yet providing the very best of modern living. In addition, the future development should generate keen interest as there have not been many new launches in the area,\u201d said Steven Tan, director of capital markets & investment services at Colliers International.
\nHe expects the property to appeal to diverse groups of buyers, including nature lovers who value the proximity of the site to lifestyle amenities, key transport nodes and various schools.
\nThe collective sale tender for the property closes on 17 January.
\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…Row of apartments in Phoenix Road up for collective sale at m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The site is located near Phoenix LRT station and Bukit Panjang MRT station and bus...<\/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-101804","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-qu0","jetpack-related-posts":[{"id":108500,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/phoenix-road-apartments-shops-make-second-attempt-at-collective-sale\/","url_meta":{"origin":101804,"position":0},"title":"Phoenix Road apartments, shops make second attempt at collective sale","date":"June 27, 2019","format":false,"excerpt":"\r A row of shops and apartments at Phoenix Road in Bukit Panjang has been put up for collective sale for the second time by its owners, with the price unchanged at $42 million. It was first put up for collective sale in November 2018. \u201cOwing to a higher estimated\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82336,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goodluck-garden-sold-to-qingjian-for-610m\/","url_meta":{"origin":101804,"position":1},"title":"Goodluck Garden sold to Qingjian for $610m","date":"March 9, 2018","format":false,"excerpt":"\r The freehold site off Upper Bukit Timah is close to Beauty World MRT station. (Photo: Knight Frank) Goodluck Garden, a 210-unit freehold condominium along Toh Tuck Road, has been sold through a collective sale to Chinese developer Qingjian Group for $610 million, which is about 10 percent above the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-condos-up-for-en-bloc-sale\/","url_meta":{"origin":101804,"position":2},"title":"Four condos up for en bloc sale","date":"November 16, 2017","format":false,"excerpt":"\r Derby Court is a freehold condominium development located at 5, Derbyshire Road in District 11 near Novena MRT station. (Photo: JLL) Four residential developments, including the iconic Pearlbank Apartments in Outram, have been put up in separate tenders for en bloc sale. The others are Parkway Mansion in Katong,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119946,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-sites-at-bukit-timah-dukes-road-up-for-collective-sale\/","url_meta":{"origin":101804,"position":3},"title":"Adjoining sites at Bukit Timah, Duke's Road up for collective sale","date":"January 27, 2021","format":false,"excerpt":"\r Adjoining sites at Bukit Timah, Duke's Road up for collective saleWith an area of 16,479 sq ft, the freehold site is zoned for residential and commercial use under the\u00a02019 Master Plan. Image: Google Street View Three adjoining mixed-use redevelopment sites located at 551 to 553 Bukit Timah Road and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/551-to-553-Bukit-Timah-Rd.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":75665,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/city-towers-attempts-another-collective-sale-at-355m\/","url_meta":{"origin":101804,"position":4},"title":"City Towers attempts another collective sale at $355m","date":"January 3, 2018","format":false,"excerpt":"\r Each homeowner could receive $2.45 million to $10.17 million if the sale goes through. (Photo: Colliers International)\u00a0 The freehold City Towers condominium at 317-325Q Bukit Timah Road will be put up for collective sale again this Thursday (4 January) at a reserve price of $355 million, marketing agent Colliers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83363,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/olina-lodge-verdun-house-launched-for-collective-sale\/","url_meta":{"origin":101804,"position":5},"title":"Olina Lodge, Verdun House launched for collective sale","date":"March 22, 2018","format":false,"excerpt":"\r Completed in 1990, the freehold Olina Lodge has a reserve price of $220 million. (Photo: SRI) The collective sales fever continues to heat up with the recent launch of two freehold developments \u2013 Olina Lodge and Verdun House, revealed marketing agent Singapore Realtors Inc (SRI). 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