{"id":61956,"date":"2017-07-27T10:18:06","date_gmt":"2017-07-27T03:18:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/serangoon-ville-sold-en-bloc-each-owner-to-get-about-2m\/"},"modified":"2017-07-27T10:19:03","modified_gmt":"2017-07-27T03:19:03","slug":"serangoon-ville-sold-en-bloc-each-owner-to-get-about-2m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/serangoon-ville-sold-en-bloc-each-owner-to-get-about-2m\/","title":{"rendered":"Serangoon Ville sold en bloc, each owner to get about $2m"},"content":{"rendered":"


\nThe former HUDC estate was purchased for $499 million by a consortium led by Oxley Holdings.
\nThe former HUDC estate Serangoon Ville has been sold in a collective sale to an Oxley Holdings-led consortium for $499 million, following the close of the tender exercise on 25 July. Each owner will get about $2 million.
\nThis exceeds the expected offers of $400 million to $430 million. Located along Serangoon North Avenue 1, the estate sits on a 296,913 sq ft site and has a plot ratio of 2.8.
\nSEE ALSO: Dunearn Court put up for en bloc sale
\nPrivatised in 2014 and with 69 years left on its lease, Serangoon Ville comprises 244 apartments and maisonettes spread across seven blocks.
\nThe sale price, on top of an estimated differential premium of $195 million to top-up the lease to a fresh 99 years and intensify the site, works out to a land rate of $835 psf per plot ratio, said Stanley Koo, Division Director at ERA Realty Network, which brokered the sale.
\nEugene Lim, ERA\u2019s Key Executive Officer, said: \u201cThis serves as yet another indication that developers are of the view that the property market\u2019s down cycle is almost over.\u201d
\nHe noted that strong sales seen at the nearby Hundred Palms Residences executive condominium along Yio Chu Kang Road would have given developers more confidence in the tender of Serangoon Ville.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Serangoon Ville sold en bloc, each owner to get about m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The former HUDC estate was purchased for $499 million by a consortium led by Oxley...<\/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-61956","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-g7i","jetpack-related-posts":[{"id":89274,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/affinity-at-serangoon-open-for-preview-this-weekend\/","url_meta":{"origin":61956,"position":0},"title":"Affinity at Serangoon open for preview this weekend","date":"May 24, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Affinity at Serangoon, a new 1,052-unit condominium located on the former Serangoon Ville HUDC estate. Affinity at Serangoon, a 1,052-unit residential project with five retail shops at Serangoon North Avenue 1, will open for preview this Saturday (26 May). The 99-year leasehold project is one of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90516,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/modest-sales-seen-at-two-new-launches\/","url_meta":{"origin":61956,"position":1},"title":"Modest sales seen at two new launches","date":"June 5, 2018","format":false,"excerpt":"\r Buyers balloting for units at Affinity at Serangoon. (Photo: Oxley Holdings) Two new project launches in the Serangoon area (District 19) reported modest Phase 1 sales over the weekend. Affinity at Serangoon sold 37 percent or 112 of the 300 units released, while The Garden Residences moved more than\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90534,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-170-units-sold-at-two-new-launches\/","url_meta":{"origin":61956,"position":2},"title":"Over 170 units sold at two new launches","date":"June 5, 2018","format":false,"excerpt":"\r Buyers balloting for units at Affinity at Serangoon. (Photo: Oxley Holdings) Two new project launches in the Serangoon area (District 19) reported more than 170 units sold during Phase 1 sales over the weekend. Affinity at Serangoon sold 112 of the 300 units released, while The Garden Residences moved\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90934,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-things-to-know-about-affinity-at-serangoon\/","url_meta":{"origin":61956,"position":3},"title":"5 things to know about Affinity at Serangoon","date":"June 8, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Affinity at Serangoon, a new large-scale project in District 19. With the property market finally on the upturn, an Oxley-led consortium is tempting home buyers with its latest offering \u2013 Affinity at Serangoon. This new condominium project along Serangoon North Avenue 1 in District 19 is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/06\/Affinity-clubhouse-and-gym-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":58636,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/serangoon-ville-up-for-collective-sale-at-400-430-mil\/","url_meta":{"origin":61956,"position":4},"title":"Serangoon Ville up for collective sale at $400-$430 mil","date":"June 22, 2017","format":false,"excerpt":"\r The 244-unit residential project sits on a 296,913 sq ft site. Serangoon Ville, a privatised HUDC estate at Serangoon North Avenue 1, has been put up for collective sale, marketing agent ERA Realty Network said on Wednesday (21 June). The site has 69 years left on its lease. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90384,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-leapfrogs-cdl-as-singapores-largest-developer\/","url_meta":{"origin":61956,"position":5},"title":"Oxley leapfrogs CDL as Singapore\u2019s largest developer","date":"June 4, 2018","format":false,"excerpt":"\r Oxley\u2019s executive chairman and CEO Ching Chiat Kwong. Oxley Holdings has surpassed City Developments Limited (CDL) as the city-state\u2019s biggest property developer in terms of the number of sellable homes, reported Singapore Business Review. In fact, Oxley and its joint venture partners are set to build more than 4,000\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\/61956"}],"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=61956"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61956\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=61956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=61956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=61956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}