{"id":107565,"date":"2019-05-29T09:01:32","date_gmt":"2019-05-29T02:01:32","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/newton-lodge-makes-second-en-bloc-sale-attempt\/"},"modified":"2019-05-29T09:03:00","modified_gmt":"2019-05-29T02:03:00","slug":"newton-lodge-makes-second-en-bloc-sale-attempt","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/newton-lodge-makes-second-en-bloc-sale-attempt\/","title":{"rendered":"Newton Lodge makes second en bloc sale attempt"},"content":{"rendered":"


\nThe vendors are expecting a minimum of $44 million from the en bloc sale.\u00a0
\nAfter a failed attempt in January, the owners of Newton Lodge are once again trying their luck at a collective sale, with the asking price unchanged.
\nMarketing agent JLL revealed that the vendors are expecting a minimum of $44 million for the 16-unit residential development.
\nThis works out to a land rate of $1,468 per sq ft per plot ratio (psf ppr) or $1,359 psf ppr after taking into account the additional eight percent bonus gross floor area for balconies and communal areas. JLL noted that no development charge is payable for the property.
\nAlso read: What are en bloc sale and collective sales, and how residents benefit from them
\nLocated near Novena MRT station and the Novena commercial cluster, Newton Lodge sits on a 21,409 sq ft site zoned \u2018residential\u2019 under the 2014 Master Plan with a gross plot ratio of 1.4.<\/p>\n

The freehold property may be redeveloped into a low-rise apartment project with up to 27 units averaging 100 sq m each. The site is also suitable as a custom-built co-living development or serviced residences, subject to the relevant authorities\u2019 approval.
\nShould it be approved for serviced residences, the property could house about 50 to 60 rooms that could be rented for a minimum of seven-day stay.
\n\u201cProfessionally-run and organized co-living concepts to the levels of the co-working phenomenon are still in their infancy in Singapore, and are expected to grow, especially with high stamp duties payable for home purchases by foreigners in Singapore. We are beginning to receive a lot more enquiries from new co-living operators and investors looking to venture into Singapore,\u201d said JLL senior consultant Karamjit Singh.
\n\u201cPurchasers who wish to develop an entire building for co-living spaces or short-term accommodation should find Newton Lodge\u2019s central location, project size and price quantum attractive. Not only would a boutique-sized project be more manageable, but a smaller community of like-minded residents may also result in more meaningful social engagements,\u201d he added.
\nThe tender for Newton Lodge will close on 11 July.
\nWhile you\u2019re here, see what properties are for sale around the Novena MRT area, or, visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides\u00a0if you\u2019re looking to rent or buy a home in Singapore.\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Newton Lodge makes second en bloc sale attempt<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The vendors are expecting a minimum of $44 million from the en bloc sale.\u00a0 After...<\/p>\n","protected":false},"author":1,"featured_media":107566,"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-107565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/05\/newton-lodge-2.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rYV","jetpack-related-posts":[{"id":103030,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/newton-lodge-up-for-en-bloc-sale-at-44m\/","url_meta":{"origin":107565,"position":0},"title":"Newton Lodge up for en bloc sale at $44m","date":"January 17, 2019","format":false,"excerpt":"\r Newton Lodge is located close to Novena MRT station and the future healthcare hub. Newton Lodge, a 16-unit residential development at Newton Road, has been launched for collective sale with the owners expecting a minimum offer of $44 million, revealed marketing agent JLL. This works out to a land\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90742,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-court-elizabeth-towers-launched-for-collective-sale\/","url_meta":{"origin":107565,"position":1},"title":"Gilstead Court, Elizabeth Towers launched for collective sale","date":"June 7, 2018","format":false,"excerpt":"\r Elizabeth Towers off Orchard Road in District 9 has a reserve price of $610 million or $2,416 psf ppr. (Photo: Knight Frank Singapore) The en bloc fever continues to heat up with two more freehold sites \u2013 Gilstead Court and Elizabeth Towers \u2013 launched for sale. The owners of\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":107565,"position":2},"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":103483,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-projects-seek-to-revive-en-bloc-attempt-at-lower-prices\/","url_meta":{"origin":107565,"position":3},"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":71967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-condos-up-for-en-bloc-sale\/","url_meta":{"origin":107565,"position":4},"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":87006,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-properties-launched-for-en-bloc-sale\/","url_meta":{"origin":107565,"position":5},"title":"Two freehold properties launched for en bloc sale","date":"May 3, 2018","format":false,"excerpt":"\r Holland Tower in District 10 was put up for sale with a reserve price of $65 million. (Photo: SRI) More homeowners are trying their luck at collective sales, with two freehold developments launched at a combined price of $103 million. The Holland Tower condominium in District 10 was put\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\/107565"}],"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=107565"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/107565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/107566"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=107565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=107565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=107565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}