{"id":64204,"date":"2017-08-22T10:40:01","date_gmt":"2017-08-22T03:40:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/florence-regency-up-for-collective-sale\/"},"modified":"2017-08-22T10:44:45","modified_gmt":"2017-08-22T03:44:45","slug":"florence-regency-up-for-collective-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/florence-regency-up-for-collective-sale\/","title":{"rendered":"Florence Regency up for collective sale"},"content":{"rendered":"


\nBuilt in the late 1980s, Florence Regency comprises 336 units of apartments and maisonettes. It has a gross plot ratio of 2.8 and a site area of 389,236 sq ft. With 71 years left on its lease, the site could yield up to 1,300 apartment units. (Photo: JLL)
\nFormer HUDC estate Florence Regency has been launched for collective sale, with the owners expecting bids of between S$600 million and S$650 million.
\nBuilt in the late 1980s, Florence Regency comprises 336 units of apartments and maisonettes. It has a gross plot ratio of 2.8 and a site area of 389,236 sq ft. With 71 years left on its lease, the site could yield up to 1,300 apartment units.
\nFlorence Regency carries a land rate of S$779 psf per plot ratio, given its minimum price of S$600 million and differential premium of around S$249 million.
\nMarketing agent JLL revealed that this is the first attempt by the development\u2019s owners at a collective sale, with over 80 percent of the owners giving their consent to the sale in less than three weeks.
\n\u201cThere are good reasons for the owners\u2019 optimism as the Florence Regency site is in a superior location, with good attributes and of good size that appeals to mid-to-large developers to capitalise on the economies of scale. However, it is not too large to risk missing the five-year deadline for the 15 percent Additional Buyer\u2019s Stamp Duty remission,\u201d said JLL regional director of capital markets Tan Hong Boon.
\nLocated near the bus interchange with Hougang Mall as well as the Hougang MRT Station \u2013 which is set to become an interchange station following the completion of the planned Cross Island Line \u2013 Florency Regency is within walking distance to the Kovan MRT Station along Upper Serangoon Road.
\nThe estate also enjoys easy access to major roads and expressways such as the Kallang-Paya Lebar Expressway and Central Expressway. Nearby schools include Holy Innocents\u2019 Primary School, a Special Assistance Plan school and the French School of Singapore.
\nTan believes the \u201ckey selling point of the site is its 270-degree unblocked views of the surroundings, being located next to landed housing estates and across the Hougang Stadium and the Sports & Swimming Complex\u201d.
\n\u201cThis location will be ideal for young families requiring a quiet and more conducive environment for their children to study and live in,\u201d he said.
\nTender exercise for Florence Regency will close on 27 September.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Florence Regency up for collective sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Built in the late 1980s, Florence Regency comprises 336 units of apartments and maisonettes. It...<\/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-64204","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-gHy","jetpack-related-posts":[{"id":68548,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/florence-regency-looking-for-willing-buyer-for-629m\/","url_meta":{"origin":64204,"position":0},"title":"Florence Regency looking for willing buyer for $629m","date":"October 9, 2017","format":false,"excerpt":"\r Built in the late 1980s, Florence Regency comprises 336 units. (Photo: JLL) JLL, the marketing agent of privatised HUDC estate Florence Regency, will continue to look for a buyer willing to purchase the Hougang estate for at least $629 million \u2013 which is the property\u2019s valuation, reported the Business\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64126,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-owners-make-third-collective-sale-attempt\/","url_meta":{"origin":64204,"position":1},"title":"Park West owners make third collective sale attempt","date":"August 21, 2017","format":false,"excerpt":"\r Featuring a land area of 633,644 sq ft, Park West comprises 432 apartments and four shop units.\u00a0 Following two failed attempt at a collective sale in 2007 and 2011, condominium owners at Park West are hoping that their third try at an en bloc sale would be successful, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69548,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hougang-condo-sold-for-629m-in-collective-sale\/","url_meta":{"origin":64204,"position":2},"title":"Hougang condo sold for $629m in collective sale","date":"October 20, 2017","format":false,"excerpt":"\r The owners of Florence Regency are expected to receive between $1.84 million and $1.89 million from the sale. (Photo: JLL) The 336-unit Florence Regency development at Hougang Avenue 2 has been sold to Hong Kong-listed developer Logan Property for $629 million, marketing agent JLL said on Friday (20 October).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69564,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hougang-project-sold-for-629m-in-collective-sale\/","url_meta":{"origin":64204,"position":3},"title":"Hougang project sold for $629m in collective sale","date":"October 20, 2017","format":false,"excerpt":"\r The owners of Florence Regency are expected to receive between $1.84 million and $1.89 million from the sale. (Photo: JLL) The 336-unit Florence Regency development at Hougang Avenue 2 has been sold to Hong Kong-listed developer Logan Property for $629 million, marketing agent JLL said on Friday (20 October).\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":64204,"position":4},"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":64818,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/amber-park-and-jervois-gardens-launched-for-sale\/","url_meta":{"origin":64204,"position":5},"title":"Amber Park and Jervois Gardens launched for sale","date":"August 29, 2017","format":false,"excerpt":"\r View of Amber Park, which is expected to be redeveloped into a high-rise project with sea views. (Photo: JLL) The collective sales market continues to roll on with two freehold residential developments \u2013 Amber Park and Jervois Gardens \u2013 launched for tender. Located along Amber Road in Katong, Amber\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\/64204"}],"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=64204"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/64204\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=64204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=64204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=64204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}