{"id":104407,"date":"2019-02-26T11:53:31","date_gmt":"2019-02-26T04:53:31","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/peace-mansion-going-for-688m-in-5th-en-bloc-attempt\/"},"modified":"2019-02-26T12:03:03","modified_gmt":"2019-02-26T05:03:03","slug":"peace-mansion-going-for-688m-in-5th-en-bloc-attempt","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/peace-mansion-going-for-688m-in-5th-en-bloc-attempt\/","title":{"rendered":"Peace Mansion going for $688m in 5th en bloc attempt"},"content":{"rendered":"


\nMajority of the owners of Peace Centre\/Peace Mansion have agreed to launch the development for collective sale again at a minimum price of $688 million. (Photo: JLL)
\nUndeterred by four prior failed attempts, over 80 percent of the owners of Peace Centre\/Peace Mansion (PCPM) have agreed to launch the development for collective sale again at a minimum price of $688 million, which translates to a land rate of around $1,474 psf per plot ratio (excluding bonus balcony space).
\n\u201cPCPM, with its District 9 address, prominent corner site with a very high visibility of 100m frontage onto Sophia Road, 70m onto Selegie Road and its proximity to six MRT stations within a 600m radius, stands out with its convenient location and excellent accessibility,\u201d said Tan Hong Boon, executive director at marketing agent JLL.
\nMore:\u00a0Understanding The En Bloc Process (August 2018)
\nLocated on a 76,617 sq ft site within walking distance to Singapore\u2019s iconic Orchard Road shopping belt, the mixed-use project has 162 parking spaces, 133 offices, 99 retail units and 86 apartments.
\nBased on an outline planning permission (OPP) from the Urban Redevelopment Authority, the site can be redeveloped to its existing gross floor area (GFA) of about 604,578 sq ft, with 362,747 sq ft (60 percent) allocated for commercial premises and 241,831 sq ft for the residential component. Assuming an average unit size of 1,000 sq ft, the buyer can build around 240 apartments, subject to approval from relevant government agencies.
\nPCPM has also already applied for an in-principle approval from the Singapore Land Authority to refresh the lease to 99 years. There is also no need for a Pre-Application Feasibility Study from the Land Transport Authority.
\nAside from being close to six MRT stations \u2013 Rochor, Bencoolen, Dhoby Ghaut, Bras Basah, Little India and Bugis, the project is also within a 1km radius to reputable learning institutions like Stamford Primary School and St Margaret\u2019s Primary School.
\nThe tender exercise for PCPM will close on 11 April.
\nGet more details on the property market outlook for 2019 here
\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…Peace Mansion going for 8m in 5th en bloc attempt<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Majority of the owners of Peace Centre\/Peace Mansion have agreed to launch the development for...<\/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-104407","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-r9Z","jetpack-related-posts":[{"id":123706,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/peace-centre-peace-mansion-sold-for-650mil\/","url_meta":{"origin":104407,"position":0},"title":"Peace Centre, Peace Mansion sold for $650mil","date":"December 9, 2021","format":false,"excerpt":"\r Located along Sophia Road, Peace Centre and Peace Mansion\u00a0occupy a 76,617 sq ft site. Source: Google\u00a0Maps After five tries at a collective sale, the shopping mall Peace Centre and apartment complex Peace Mansion have finally been sold for $650 million to a joint venture comprising Sing Haiyi Crystal, CEL\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/Peace-Centre-Peace-Mansion-Building-photo-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":98207,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-yuen-sing-mansion-up-for-collective-sale-at-17m\/","url_meta":{"origin":104407,"position":1},"title":"Freehold condo Yuen Sing Mansion up for collective sale at $17m","date":"September 20, 2018","format":false,"excerpt":"\r The reserve price works out to around $753 psf ppr after taking into account the 10 percent bonus balcony space and development charge. (Photo: JLL) Yuen Sing Mansion, a four-storey residential development at Nos. 6A \u2013 10C Geylang Lorong 13, has been put up for collective sale, with 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":104407,"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":89989,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-mansion-in-district-11-up-for-sale-for-at-least-68m\/","url_meta":{"origin":104407,"position":3},"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":103971,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/margate-point-makes-another-collective-sale-attempt\/","url_meta":{"origin":104407,"position":4},"title":"Margate Point makes another collective sale attempt","date":"February 14, 2019","format":false,"excerpt":"\r Majority of the owners agreed to lower the reserve price of the Katong property from $38 million to $36.5 million. (Photo: JLL) The owners of Margate Point, a 15-unit residential development along Margate Road in Katong, are making a second attempt at an en bloc sale, with 70 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"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":104407,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104407"}],"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=104407"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104407\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=104407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=104407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=104407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}