{"id":56034,"date":"2017-05-26T11:00:19","date_gmt":"2017-05-26T04:00:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/rio-casa-sold-en-bloc-for-s575mil\/"},"modified":"2017-05-26T11:09:57","modified_gmt":"2017-05-26T04:09:57","slug":"rio-casa-sold-en-bloc-for-s575mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rio-casa-sold-en-bloc-for-s575mil\/","title":{"rendered":"Rio Casa sold en-bloc for S$575mil"},"content":{"rendered":"


\n\u00a0
\nRio Casa, a 286-unit development at Hougang Avenue 7 has been sold collectively for S$575 million to Oxley-Lian Beng Venture Pte Ltd, revealed marketing agent Knight Frank.
\nCoupled with an additional differential premium of around S$208 million to top up the lease to a fresh 99 years and develop the site to a gross plot ratio (GPR) of 2.8, the purchase price works out to a land price of about S$706 per sq ft per plot ratio (psf ppr), based on its maximum permissible gross floor area (GFA) of around 1,109,447 sq ft.
\nThe property was put up for collective sale in April, after more than 80 percent of the owners agreed to the en bloc sale.
\nKnight Frank noted that each owner is set to receive around S$2 million in gross sale price upon the \u201csuccessful completion of the sale, which is subject to several conditions being met, including an order of sale by the Strata Titles Board or Court Approval\u201d.
\nFeaturing seven residential towers, the former HUDC estate has a site area of 36,811.1 sq m (about 396,231 sq ft) and enjoys a 200m frontage of riverfront. It is zoned for residential use under the Master Plan 2014.
\nKnight Frank executive director and head of investment & capital markets Ian Loh attributed the strong interest for the estate to its positive site attributes \u2013 which include easy access to Hougang MRT stations and bus interchange, proximity to Serangoon Park Connector, vast surrounding green spaces and waterfront view.
\nAside from this, no new launch is \u201cexpected within the immediate vicinity, in the short to medium term\u201d.
\n\u201cThe gross development value for this project is estimated at S$1.4 billion and can potentially be redeveloped to build about 1,400 residential units, assuming an average size of 70 sq m per unit,\u201d he added.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Rio Casa sold en-bloc for S5mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Rio Casa, a 286-unit development at Hougang Avenue 7 has been sold collectively for...<\/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-56034","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-ezM","jetpack-related-posts":[{"id":61948,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-court-put-up-for-en-bloc-sale\/","url_meta":{"origin":56034,"position":0},"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":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":56034,"position":1},"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":[]},{"id":69798,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-court-sold-to-roxy-pacific-for-36-3m\/","url_meta":{"origin":56034,"position":2},"title":"Dunearn Court sold to Roxy-Pacific for $36.3m","date":"October 23, 2017","format":false,"excerpt":"\r Each owner will receive about $2.91 million to $3.12 million from the sale. (Photo: Knight Frank) The en bloc market continues to roll with the sale of Dunearn Court to RH Central, a subsidiary of Roxy-Pacific Holdings, for $36.3 million. This is slightly lower than the guide price of\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":56034,"position":3},"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":76318,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/summer-green-in-balestier-up-for-en-bloc-sale\/","url_meta":{"origin":56034,"position":4},"title":"Summer Green in Balestier up for en bloc sale","date":"January 11, 2018","format":false,"excerpt":"\r The 24-unit apartment has a guide price of over $48.5 million. (Photo: Knight Frank) Another residential development, this time off Balestier Road, has been put up for collective sale, said marketing agent Knight Frank on Thursday (11 January). The freehold Summer Green apartment block comprises 24 units and has\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87349,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kemaman-point-up-for-en-bloc-sale-with-143-8m-reserve-price\/","url_meta":{"origin":56034,"position":5},"title":"Kemaman Point up for en bloc sale with $143.8m reserve price","date":"May 8, 2018","format":false,"excerpt":"\r Completed in 1993, the 89-unit Kemaman Point is located close to Novena MRT station. (Photo: Knight Frank) Kemaman Point, a freehold condominium off Balestier Road in District 12, was launched for collective sale on Monday (7 May) with a reserve price of $143.8 million, said marketing agent Knight Frank\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\/56034"}],"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=56034"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/56034\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=56034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=56034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=56034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}