{"id":108500,"date":"2019-06-27T11:36:32","date_gmt":"2019-06-27T04:36:32","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/phoenix-road-apartments-shops-make-second-attempt-at-collective-sale\/"},"modified":"2019-06-27T12:43:23","modified_gmt":"2019-06-27T05:43:23","slug":"phoenix-road-apartments-shops-make-second-attempt-at-collective-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/phoenix-road-apartments-shops-make-second-attempt-at-collective-sale\/","title":{"rendered":"Phoenix Road apartments, shops make second attempt at collective sale"},"content":{"rendered":"


\nA 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.
\n\u201cOwing to a higher estimated differential premium, the land rate has risen marginally to $621 per sq ft per plot ratio (psf ppr) \u2013 up from $617 psf ppr in the earlier tender exercise (which closed on 17 January 2019),\u201d said marketing agent Colliers International.
\nNestled on a 5,853.1 sq m (63,002 sq ft) site, the Phoenix Road property comprises 24 apartments and 12 shops that are spread across two three-storey blocks.
\nThe site, which is zoned residential under the 2019 Draft Master Plan with a gross plot ratio of 1.4, has a leasehold tenure of 99 years which started on 1 January 1969.
\n\u201cWe\u2019ve received enquiries about the site previously and expect it to continue to attract interest, given its favourable location near key transport nodes, pristine nature reserve and a wide range of amenities, as well as its boutique-sized plot and palatable quantum,\u201d said Steven Tan, director of capital markets and investment services at Colliers International.
\nSubject to relevant approvals, the site could be redeveloped to offer 80 residential units, averaging around 950 sq ft each, he added.
\nWith the Phoenix LRT station right at its door step, the property is near the Bukit Panjang MRT station and bus interchange.
\nAmenities within the area include Bukit Panjang Plaza, Junction 10, Hillion Mall, HillV2, as well as schools like Pioneer Junior College, ITE College West, Teck Whye Secondary, Choa Chu Kang Secondary and West View Primary.
\nVincent Chia, chairman of the Collective Sale Committee, said the owners know that the en bloc sale market have been very challenging lately.
\n\u201cThat said, we are sincere about putting the property on the market and would like to have another go at it before the Collective Sale Agreement expires later this year.\u201d
\nIn the event of a successful sale, each owner stands to receive an estimated gross sale proceeds of $1 million to $1.5 million, depending on the size of their units.
\nThe tender for the property closes on 25 July.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nFiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Phoenix Road apartments, shops make second attempt at collective sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A row of shops and apartments at Phoenix Road in Bukit Panjang has been put...<\/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-108500","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-se0","jetpack-related-posts":[{"id":101804,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/row-of-apartments-in-phoenix-road-up-for-collective-sale-at-42m\/","url_meta":{"origin":108500,"position":0},"title":"Row of apartments in Phoenix Road up for collective sale at $42m","date":"November 29, 2018","format":false,"excerpt":"\r The site is located near Phoenix LRT station and Bukit Panjang MRT station and bus interchange. (Photo: Colliers International) A 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\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":108500,"position":1},"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). Located at 15 Holland\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":108500,"position":2},"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":75259,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-more-sites-up-for-collective-sale\/","url_meta":{"origin":108500,"position":3},"title":"Two more sites up for collective sale","date":"December 26, 2017","format":false,"excerpt":"\r Kovan Lodge is a freehold condominium development located at 51A, Kovan Road (S)548135 in District 19. The collective sales market continues to heat up with the launch of two more sites \u2013 the freehold development of Kovan Lodge and 43-unit Ampas Apartments, reported The Straits Times. Nestled on a\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":108500,"position":4},"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":81171,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-estoril-tulip-garden-up-for-collective-sale\/","url_meta":{"origin":108500,"position":5},"title":"The Estoril, Tulip Garden up for collective sale","date":"February 27, 2018","format":false,"excerpt":"\r Aerial view of Tulip Garden. (Photo: Colliers International) Two residential developments in prime district 10 \u2013 The Estoril and Tulip Garden \u2013 recently joined the en bloc sale bandwagon. Located at 95 & 97 Holland Road, The Estoril carries a guide price of $220 million, or around $1,625 psf\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\/108500"}],"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=108500"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/108500\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=108500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=108500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=108500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}