{"id":123594,"date":"2021-12-03T02:59:09","date_gmt":"2021-12-02T19:59:09","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chuan-park-in-private-negotiation-process\/"},"modified":"2021-12-03T11:06:12","modified_gmt":"2021-12-03T04:06:12","slug":"chuan-park-in-private-negotiation-process","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chuan-park-in-private-negotiation-process\/","title":{"rendered":"Chuan Park in private negotiation process"},"content":{"rendered":"


\nLocated at 240 to 250 Lorong Chuan, Chuan Park is a\u00a099-year leasehold project and\u00a0occupies a 400,588.72 sq ft site; the property may be redeveloped into 900 to 919 units.
\nChuan Park condominium at Lorong Chuan is \u201cin a private treaty negotiation process\u201d which is expected to conclude next month, reported The Business Times (BT) citing marketing agent ERA.
\nThis comes as the condo received some interest from developers following the close of its tender, said a spokesperson from ERA, who did not confirm whether the development received any bid.
\nSituated beside Lorong Chuan MRT station, the 99-year leasehold development comprises 444 apartment units, a supermarket and a food and beverage space that is currently unoccupied. It was put up for tender from 5 October to 18 November, carrying an indicative price of $938 million.
\nIt was developed by the Far East Organization unit, Golden Developer, in 1980 and has a remaining lease of about 58 years.
\nERA noted that the property may be redeveloped into 900 to 919 units.
\nChuan Park condominium had attempted for a collective sale in 2018, with the asking price pegged at $900 million. However, it did not push through due to failure to secure the necessary 80% consent of owners even as the asking was raised from $790 million.
\nFor this year\u2019s tender, over 80% of the owners agreed to the tender.
\nBT noted that the en bloc sale market is still going strong, with La Ville selling for $152 million \u2013 which was above the reserve price \u2013 during its third attempt to Hong Kong-listed ZACD Group.
\nLocated at Tanjong Rhu, the high-rise development was launched for sale in October for $148 million. It finally went for higher after a robust competition among bidders.
\nMeanwhile, Gloria Mansion, a freehold hilltop condominium at Pasir Panjang Road, is once again up for collective sale, with a lower reserve price at $69 million, according to exclusive marketing agent Strata AMC.
\nIn June 2018, the 12-storey condo was put up for collective sale, with an asking price of $79 million. That was around two weeks before the government rolled out a slew of property cooling measures to douse the en bloc fever at the time.
\nFeaturing 31 apartment units, the development was completed in 1995 and occupies a 45,742 sq ft site that is zoned for residential use under the 2019 Master Plan. The site has a current plot ratio of 1.4.
\nStrata AMC said the condo enjoys a \u201cpanoramic view\u201d overlooking the Greater Southern Waterfront.
\n\u201cGiven its proximity to the future Greater Southern Waterfront, Gloria Mansion presents an exceptional redevelopment opportunity for developers seeking to create an iconic residential development,\u201d said Strata AMC as quoted by BT.
\nThe marketing agent expects the site to attract small- to mid-sized developers, considering its strategic location as well as its \u201cattractive reserve price\u201d with no development charge required.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Chuan Park in private negotiation process<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Located at 240 to 250 Lorong Chuan, Chuan Park is a\u00a099-year leasehold project and\u00a0occupies a...<\/p>\n","protected":false},"author":1,"featured_media":123595,"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-123594","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\/2021\/12\/Chuan-Park.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-w9s","jetpack-related-posts":[{"id":122397,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chuan-park-up-for-collective-sale-for-938mil\/","url_meta":{"origin":123594,"position":0},"title":"Chuan Park up for collective sale for $938mil","date":"October 6, 2021","format":false,"excerpt":"\r Chuan Park is\u00a0a\u00a099-year leasehold project\u00a0located at 240 to 250 Lorong Chuan and\u00a0occupies a 400,588.72 sq ft site. Chuan Park, a 99-year leasehold residential project at 240 \u2013 250 Lorong Chuan, is up for collective sale by public tender carrying an indicative price of $938 million, revealed marketing agent ERA\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/Chuan-Park.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":110825,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chuan-park-unit-to-be-auctioned-on-25-september\/","url_meta":{"origin":123594,"position":1},"title":"Chuan Park unit to be auctioned on 25 September","date":"September 17, 2019","format":false,"excerpt":"\r The 444-unit Chuan Park comprises two four-storey blocks of apartments as well as three tower blocks of 21- and 23-storeys. A residential unit at Chuan Park, which is located at 244 Lorong Chuan, is set to be put up for auction on 25 September, revealed Edmund Tie. Sold with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":125601,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-slump-to-lowest-since-may-2020-strata-subdivision-of-commercial-properties-no-longer-allowed-in-central-areas-and-more\/","url_meta":{"origin":123594,"position":2},"title":"New Private Home Sales Slump to Lowest Since May 2020, Strata Subdivision of Commercial Properties No Longer Allowed in Central Areas and More","date":"March 22, 2022","format":false,"excerpt":"\r 15th March to\u00a021st March 2022 Singapore saw new private home sales drop by almost 23% month-on-month to 527 units in February \u2013 the lowest monthly sales since May 2020, when 487 units were shifted. The Urban Redevelopment Authority (URA) announced that the strata subdivision of commercial complexes or mixed-use\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/03\/singapore-condo.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":56678,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/75-8-million-top-bid-for-lorong-1-realty-park-site\/","url_meta":{"origin":123594,"position":3},"title":"$75.8 million top bid for Lorong 1 Realty Park site","date":"June 2, 2017","format":false,"excerpt":"\r Aerial view of the site at Lorong 1 Realty Park in Hougang. (Photo: URA) The tender for a rare landed property site at Lorong 1 Realty Park in Hougang closed on Thursday (1 June) after attracting 11 bids, revealed the Urban Redevelopment Authority (URA). China-based developers Fantasia Investment (Singapore),\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100098,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/serangoon-gardens-house-up-for-sale-at-11-5m\/","url_meta":{"origin":123594,"position":4},"title":"Serangoon Gardens house up for sale at $11.5m","date":"October 18, 2018","format":false,"excerpt":"\r The asking price for the single-storey property at Berwick Drive works out to a land rate of $1,085 psf. (Photo: Savills Singapore) A single-storey detached house at 18\/20 Berwick Drive has been launched for sale, with a price tag of $11.5 million, or $1,085 psf, revealed marketing agent Savills\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57030,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lorong-1-realty-park-site-awarded\/","url_meta":{"origin":123594,"position":5},"title":"Lorong 1 Realty Park site awarded","date":"June 6, 2017","format":false,"excerpt":"\r \u00a0 A 144,221 sq ft residential site at Lorong 1 Realty Park has been awarded to Fantasia Investment (Singapore) Pte Ltd, Sun Renwang and Yang Xinping, after the developers submitted the highest bid of S$75.8 million, revealed the Urban Redevelopment Authority on Monday (5 June). The tender for the\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\/123594"}],"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=123594"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/123594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/123595"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=123594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=123594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=123594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}