{"id":113697,"date":"2020-01-17T12:43:03","date_gmt":"2020-01-17T05:43:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/wing-fong-court-condominium-up-for-collective-sale-for-s108m\/"},"modified":"2020-01-17T13:18:57","modified_gmt":"2020-01-17T06:18:57","slug":"wing-fong-court-condominium-up-for-collective-sale-for-s108m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wing-fong-court-condominium-up-for-collective-sale-for-s108m\/","title":{"rendered":"Wing Fong Court condominium up for collective sale for S$108m"},"content":{"rendered":"


\nMeanwhile, the adjacent condo, Wing Fong Mansions, might also be put up for collective sale soon. Image: Google
\nWing Fong Court in Geylang has been put up for collective sale by PropNex Realty with a $108 million reserve price, reported The Business Times.
\nThe freehold condominium located at 10 Lorong 14 Geylang condominium\u00a0comprises of 88 units and has a site area measuring 29,334 sq ft with a total strata area of around 87,791 sq ft. Its land rate works out to about $997 per square foot per plot ratio (psf ppr).
\nZoned for commercial and institutional use under the URA Master Plan 2019, with a plot ratio of 2.8,\u00a0the site has the potential of being converted for service apartment or hotel use, subject to approval from the authorities.
\nRedevelopments will not incur Additional Buyer\u2019s Stamp Duty (ABSD) due to the property site\u2019s commercial use classification.
\n\u201cDue to its close proximity to the city centre, we believe Wing Fong Court will draw interest from foreign investors, such as those from China or Hong Kong, as well as Singapore developers,\u201d Hau said.
\nMeanwhile, the adjacent condo, Wing Fong Mansions, might also be put up for collective sale soon, according to PropNex lead property consultant Richard Hau.\u00a078.5% of owners by share value and strata area have given their consent for an en bloc sale, Mr Hau added.\u00a0
\nThe eight-storey, 130-unit is located at 12 Lorong 14 Geylang is marketed by PropNex. Zoned for commercial and institutional use with a plot ratio of 2.8, it has a total strata area of around\u00a0142,148 sq ft (13,231 sq m) with a land area of\u00a047,880 sq ft (4,448 sq m).
\n\u201cIf both Wing Fong Court and Wing Fong Mansions are successfully put up for tender, they will make up one of the largest and most promising land sites in Geylang and near the city centre,\u201d Mr Hau said.
\nBoth Wing Fong Court and Wing Fong Mansions are situated in Geylang, which is undergoing a major revamp into a commercial environment and is just a 10-minute drive to the CBD, PropNex noted.
\nConstructed in 1997, both properties are 14 minutes and 11 minutes away from the Mountbatten and Aljunied MRT stations respectively by foot, and is also a 10-minute drive to the CBD.\u00a0
\nThe open tender exercise for Wing Fong Court condominium ends on 18 May.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Wing Fong Court condominium up for collective sale for S8m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Meanwhile, the adjacent condo, Wing Fong Mansions, might also be put up for collective sale...<\/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-113697","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-tzP","jetpack-related-posts":[{"id":113987,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wing-fong-mansions-and-wing-fong-court-in-geylang-for-sale\/","url_meta":{"origin":113697,"position":0},"title":"Wing Fong Mansions and Wing Fong Court in Geylang for sale","date":"January 31, 2020","format":false,"excerpt":"\r \u00a0 Wing Fong Mansions in Geylang has been put up for collective sale by PropNex Realty with a S$176 million reserve price, reported The Business Times. At least 80% of Wing Fong Mansions\u2019 owners have consented to an en bloc sale, revealed Richard Hau, lead property consultant for PropNex\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112888,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/doctor-buys-geylang-condo-in-26-million-en-bloc-sale\/","url_meta":{"origin":113697,"position":1},"title":"Doctor buys Geylang condo in $26 million en bloc sale","date":"December 5, 2019","format":false,"excerpt":"\r \u00a0 Kwong Wai Shiu Hospital, the owner of Leshan Gardens\u00a0condominium in Geylang, has sold the freehold property en bloc to an unnamed ear, nose, throat specialist for $26.28 million on a 104-year lease, reported The Business Times. The price, which\u00a0includes a $2.35 million development charge, works out to around\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64126,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-owners-make-third-collective-sale-attempt\/","url_meta":{"origin":113697,"position":2},"title":"Park West owners make third collective sale attempt","date":"August 21, 2017","format":false,"excerpt":"\r Featuring a land area of 633,644 sq ft, Park West comprises 432 apartments and four shop units.\u00a0 Following two failed attempt at a collective sale in 2007 and 2011, condominium owners at Park West are hoping that their third try at an en bloc sale would be successful, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93189,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-small-condo-projects-up-for-en-bloc-sale\/","url_meta":{"origin":113697,"position":3},"title":"Two small condo projects up for en bloc sale","date":"July 5, 2018","format":false,"excerpt":"\r The 12-unit Jansen Mansion along Jansen Road sits on a 16,592.55 sq ft site. (Photo: Huttons Asia) Two small condo developments \u2013 Jansen Mansion and Blossom Mansions \u2013 have joined the collective sale bandwagon, carrying a price tag of $22 million and $32.8 million respectively, revealed marketing agent Huttons\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120521,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/geylang-development-up-for-collective-sale-for-27mil\/","url_meta":{"origin":113697,"position":4},"title":"Geylang development up for collective sale for $27mil","date":"July 14, 2021","format":false,"excerpt":"\r Located at 8 Lorong 35 Geylang, the eight-storey Baode Building is a residential development\u00a0that is going for $27 million. Source: Google Maps Baode Building, an eight-storey residential development at 8 Lorong 35 Geylang, has been put up for collective sale with an indicative price of $27 million, revealed Colliers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/BAODE-BUILDING.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":109476,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/watten-estate-condominium-up-for-en-bloc-sale-for-536m\/","url_meta":{"origin":113697,"position":5},"title":"Watten Estate Condominium up for en bloc sale for $536m","date":"July 30, 2019","format":false,"excerpt":"\r Located at Shelford Road, the condominium is nestled on a sprawling 220,234 sq ft site, which is zoned residential with a gross plot ratio of 1.4 and a total allowable gross floor area of 308,341 sq ft.\u00a0After factoring in the additional buyer\u2019s stamp duty, the development is \u201cattractively priced\u201d\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\/113697"}],"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=113697"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113697\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=113697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=113697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=113697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}