{"id":53932,"date":"2017-05-06T13:05:56","date_gmt":"2017-05-06T06:05:56","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-tree-hill-gardens-sold-for-65m-in-first-en-bloc-sale-of-2017\/"},"modified":"2017-05-06T17:38:53","modified_gmt":"2017-05-06T10:38:53","slug":"one-tree-hill-gardens-sold-for-65m-in-first-en-bloc-sale-of-2017","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-tree-hill-gardens-sold-for-65m-in-first-en-bloc-sale-of-2017\/","title":{"rendered":"One Tree Hill Gardens sold for $65m in first en bloc sale of 2017"},"content":{"rendered":"


\nThe sale price is less than the over $72.8 million that owners initially expected. (Photo: Knight Frank)
\nOne Tree Hill Gardens off Orchard Boulevard has been sold for $65 million to a subsidiary of construction and property development company Lum Chang Group, said marketing agent Knight Frank on Friday (5 May).
\nThe sale price translates to a land rate of approximately $1,664 psf, which is less than the over $72.8 million ($1,864 psf) that owners initially expected.
\nAccording to Knight Frank, this is the first en bloc deal of 2017, and the first involving a freehold landed-zoned site since Milton Court in June 2013.
\nThe approximately 39,063 sq ft site, which currently houses a three-storey building comprising six maisonettes and seven apartments, was put up for sale in January this year. Under the Master Plan 2014, the site is zoned for residential, two-storey semi-detached use.
\n\u201cDuring the course of marketing, the development received considerable interest from developers as well as contractor-developers, as this is the only sizable landed redevelopment site within close vicinity of Orchard Road,\u201d said Ian Loh, Executive Director & Head of Investment and Capital Markets, Knight Frank Singapore.
\nThe agency will now focus its attention on marketing Rio Casa, a privatised HUDC estate along Hougang Avenue 7. Launched for collective sale last month, the owners of the 286-unit river-fronting estate are expecting offers above $450.8 million, or a land rate of about $586 psf.
\nThe tender for Rio Casa will close on 23 May 2017.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…One Tree Hill Gardens sold for m in first en bloc sale of 2017<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The sale price is less than the over $72.8 million that owners initially expected. (Photo:...<\/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-53932","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-e1S","jetpack-related-posts":[{"id":41010,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-tree-hill-garden-put-up-for-sale\/","url_meta":{"origin":53932,"position":0},"title":"One Tree Hill Garden put up for sale","date":"January 18, 2017","format":false,"excerpt":"\r The owners are expecting offers of above $72.8 million, which translates to a land rate of about $1,864 psf. (Photo: Knight Frank)\u00a0 One Tree Hill Garden, a freehold landed residential redevelopment site bounded by One Tree Hill, Jalan Arnap and Jalan Kelawar, has been put up for sale by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mayfair-gardens-up-for-en-bloc-sale-at-265m\/","url_meta":{"origin":53932,"position":1},"title":"Mayfair Gardens up for en bloc sale at $265m","date":"October 23, 2017","format":false,"excerpt":"\r The asking price works out to a land rate of around $1,058 psf per plot ratio. (Photo: Knight Frank) Mayfair Gardens off Dunearn Road has been launched for collective sale, with the owners expecting offers above the reserve price of $265 million, according to marketing agent Knight Frank. Built\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61948,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-court-put-up-for-en-bloc-sale\/","url_meta":{"origin":53932,"position":2},"title":"Dunearn Court put up for en bloc sale","date":"July 27, 2017","format":false,"excerpt":"\r The guide price for the freehold site is $38.8 million, or about $1,443 psf per plot ratio. (Photo: Knight Frank) A 12-unit apartment complex along Dunearn Road in District 11 is the latest in a string of residential properties to attempt a collective sale. The freehold Dunearn Court sits\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68320,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/normanton-park-sold-for-830-1m-or-969-psf-ppr\/","url_meta":{"origin":53932,"position":3},"title":"Normanton Park sold for $830.1m, or $969 psf ppr","date":"October 6, 2017","format":false,"excerpt":"\r This is the highest land rate achieved for a 99-year leasehold collective sale site this year. (Photo: Knight Frank) The Normanton Park condominium located off Ayer Rajah Expressway has been sold collectively to Kingsford Huray Development for $830.1 million, marketing agent Knight Frank said on Thursday (5 October). It\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86132,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-gardens-sold-to-el-development-for-468m\/","url_meta":{"origin":53932,"position":4},"title":"Dunearn Gardens sold to EL Development for $468m","date":"April 23, 2018","format":false,"excerpt":"\r The purchase price is lower than the reserve price of $488.8 million. (Photo: Knight Frank) Dunearn Gardens, a freehold condominium located off Newton Road, has been sold collectively to a wholly-owned subsidiary of EL Development for $468 million following its third en bloc attempt, marketing agent Knight Frank said\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91726,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kemaman-point-in-district-12-sold-en-bloc-to-soilbuild-for-143-88m\/","url_meta":{"origin":53932,"position":5},"title":"Kemaman Point in District 12 sold en bloc to Soilbuild for $143.88m","date":"June 19, 2018","format":false,"excerpt":"\r The sale price of Kemaman Point works out to a land rate of about $1,173 psf ppr. (Photo: Knight Frank) Soilbuild Group has emerged victorious in the tender for the en bloc sale of Kemaman Point off\u00a0 Balestier Road in District 12, with a $143.88 million bid. Marketing agent\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\/53932"}],"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=53932"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/53932\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=53932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=53932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=53932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}