{"id":63808,"date":"2017-08-16T10:45:13","date_gmt":"2017-08-16T03:45:13","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/tampines-court-set-to-be-biggest-collective-sale-in-a-decade\/"},"modified":"2017-08-16T10:49:30","modified_gmt":"2017-08-16T03:49:30","slug":"tampines-court-set-to-be-biggest-collective-sale-in-a-decade","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tampines-court-set-to-be-biggest-collective-sale-in-a-decade\/","title":{"rendered":"Tampines Court set to be biggest collective sale in a decade"},"content":{"rendered":"


\nBuilt in 1985, Tampines Court sits on a huge 702,164 sq ft site.\u00a0
\nFollowing two failed attempts at a collective sale in 2008 and 2011, Tampines Court is poised to become the biggest en bloc sale of a former Housing and Urban Development Company (HUDC) estate in a decade, reported TODAYonline.
\nThis comes after the 560-unit development received a bid of $970 million, up from the $960 million asking price, during the close of its collective sale tender exercise yesterday (15 August).
\nIn 2007, Farrer Court was sold en bloc for $1.34 billion.
\nSEE ALSO: Why the hype around properties with en-bloc potential?
\n\u201cThe tender concluded with a satisfactory result above the reserve price, considering the sprawling land size Tampines Court sits on,\u201d said Terence Lian, investment sales head at Huttons, the marketing agent for the collective sale.
\nIf successful, each homeowner would stand to gain $1.7 million to $1.75 million.
\nHowever, Huttons declined to reveal the developer\u2019s identity, citing ongoing talks on sale conditions.
\nBuilt in 1985, the development at Tampines Street 11 sits on a 702,164 sq ft site and has 69 years left on its 101-year lease.
\nWith the pending sale mirroring the optimism in the property market, analysts expect more collective sales.
\n\u201cThis shows the confidence of the developer to take on a project of such scale \u2026 and the risks associated with it. More importantly, their optimism that the market recovery is well on track,\u201d said ERA Realty Network key executive officer Eugene Lim.
\nThe robust demand for land might encourage more developments to take on the en bloc route in the coming years, said Desmond Sim, CBRE\u2019s research head for Singapore and South-east Asia.
\n\u201cThere are more developers than there are land parcels. In the last land sales, there were more than 10 bidders. A lot of developers are hungry for land.\u201d
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Tampines Court set to be biggest collective sale in a decade<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Built in 1985, Tampines Court sits on a huge 702,164 sq ft site.\u00a0 Following two...<\/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-63808","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-gBa","jetpack-related-posts":[{"id":59606,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tampines-court-to-go-en-bloc-again\/","url_meta":{"origin":63808,"position":0},"title":"Tampines Court to go en bloc again","date":"July 3, 2017","format":false,"excerpt":"\r \u00a0 For the third time, Tampines Court will once again hit the collective sales market on Tuesday carrying an indicative price of S$960 million, after 82 percent of its owners consented to the sale. The former Housing and Urban Development Company (HUDC) estate\u2019s first attempt at an en bloc\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64471,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sim-lian-to-build-12-storey-condo-at-tampines-site\/","url_meta":{"origin":63808,"position":1},"title":"Sim Lian to build 12-storey condo at Tampines site","date":"August 24, 2017","format":false,"excerpt":"\r \u00a0 Sim Lian intends to develop a condominium project with over 2,000 units on the Tampines Court site, which it acquired for S$970 million, reported Business Times. This makes Tampines Court the biggest collective sale since 2007, when Farrer Court was sold for S$1.3388 billion. Exceeding the initial reserve\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56934,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-estates-gunning-for-en-bloc-sales\/","url_meta":{"origin":63808,"position":2},"title":"Two estates gunning for en bloc sales","date":"June 5, 2017","format":false,"excerpt":"\r The Interlace (pictured) began as Gillman Heights \u2013 one of the first HUDC to be privatised in 1996 and then later sold via an en bloc sale \u2013 an aim both Tampines Court and Florence Regency are now hoping to achieve. Following the recent collective sales of Rio Casa\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69116,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-blocs-can-be-stressful-for-residents\/","url_meta":{"origin":63808,"position":3},"title":"En blocs can be stressful for residents","date":"October 16, 2017","format":false,"excerpt":"\r A view of Tampines Court, a 99-years leasehold development completed in 1984 and is close to Changi General Hospital and Tampines Park. While this year\u2019s collective sale fever has yielded $5.2 billion worth of deals, experts warn that en bloc sales could also prove to be a stressful experience\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121785,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fortune-park-relaunched-for-en-bloc-sale-with-115mil-tag\/","url_meta":{"origin":63808,"position":4},"title":"Fortune Park relaunched for en bloc sale with $115mil tag","date":"September 2, 2021","format":false,"excerpt":"\r Fortune Park relaunched for en bloc sale with $115mil tagFeaturing 68 apartment units, the freehold development occupies a 44,878.34 sq ft site with a gross plot ratio of 2:1 under the 2019 Master Plan. Photo: ERA Fortune Park, a 10-storey residential block at 109 Tampines Road, has been relaunched\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/fortune-park-era.png?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":79642,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tampines-court-is-the-sale-still-on\/","url_meta":{"origin":63808,"position":5},"title":"Tampines Court: Is the sale still on?","date":"February 12, 2018","format":false,"excerpt":"\r The developer Sim Lian Group is awaiting Planning Permission approval from the URA so that it can build more housing units on the site. Worried at the lack of updates on the collective sale process, homeowners at Tampines Court wanted to know whether the sale of the development to\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\/63808"}],"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=63808"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/63808\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=63808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=63808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=63808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}