{"id":67336,"date":"2017-09-25T09:40:01","date_gmt":"2017-09-25T02:40:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-rosier-sold-en-bloc-for-271m\/"},"modified":"2017-09-25T10:02:57","modified_gmt":"2017-09-25T03:02:57","slug":"sun-rosier-sold-en-bloc-for-271m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-rosier-sold-en-bloc-for-271m\/","title":{"rendered":"Sun Rosier sold en bloc for $271m"},"content":{"rendered":"


\nEach owner is expected to gain around $2.86 million to $4.77 million from the sale. (Photo: Google Maps)
\nIn the latest en bloc sale, SingHaiyi Group has acquired Sun Rosier condominium at 5A How Sun Drive off Bartley Road for $271 million, up 15.3 percent from its $235 million asking price.
\nThe bid for the approximately 146,046 sq ft freehold development was submitted by its subsidiary SingHaiyi Properties together with Huajiang International Corporation, the group said in an SGX filing.
\nSEE ALSO: Sun Rosier condo up for en bloc sale for S$235mil
\nMarketing agent Huttons Asia expects each homeowner to receive around $2.86 million to $4.77 million from the sale, reported the Business Times.
\n\u201cThis is 108 percent over the last or latest transacted price for a unit sold early this year or two times of what the subsidiary proprietors could fetch if they sell their units on an individual basis and not via en bloc,\u201d it said.
\nGalven Tan, director of capital markets at CBRE, noted that the bid indicates that developers are still hungry for well-located and attractively priced sites.
\n\u201cOwners should be assured that the reserve price they agreed to is the base case and competitive bidding among developers will ensure the premium to their reserve price.\u201d
\nHuttons Asia collective sales head Stephen Tan revealed that the owners and the collective sale committee had prepared for the sale for the past year, \u201ceven when the market sentiment was not so rosy\u201d.
\n\u201cSun Rosier is one of the few and rare freehold development sites. We capitalised on this, and external factors such as the strong demand for such sites and the prevailing conditions in the development land market near the upcoming Bidadari Estate to make this en bloc a distinctive success.\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…Sun Rosier sold en bloc for 1m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Each owner is expected to gain around $2.86 million to $4.77 million from the sale....<\/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-67336","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-hw4","jetpack-related-posts":[{"id":103665,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-reports-robust-financial-results\/","url_meta":{"origin":67336,"position":0},"title":"SingHaiyi reports robust financial results","date":"February 4, 2019","format":false,"excerpt":"\r The Group acquired the Sun Rosier condominium off Bartley Road for $271 million in 2017. (Photo: Google Maps) The value of SingHaiyi Group\u2019s development properties nearly doubled from $268.5 million as of 31 March to $525.8 million as at 31 December last year, according to the developer\u2019s latest financial\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64772,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-rosier-condo-up-for-en-bloc-sale-for-s235mil\/","url_meta":{"origin":67336,"position":1},"title":"Sun Rosier condo up for en bloc sale for S$235mil","date":"August 28, 2017","format":false,"excerpt":"\r With a maximum gross floor area of 204,464 sq ft, the freehold site can yield 204 housing units with an average size of around 1,000 sq ft each. (Photo: Google Maps) The owners of the 78-unit Sun Rosier condominium in How Sun Drive have joined the collective sale bandwagon,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69220,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-developers-warm-up-to-en-bloc-sales\/","url_meta":{"origin":67336,"position":2},"title":"Foreign developers warm up to en bloc sales","date":"October 17, 2017","format":false,"excerpt":"\r View of HDB flats in the Ghim Moh area. Despite its cumbersome and protracted process, the en bloc fever has started to catch on among foreign developers \u2013 especially those from China \u2013 signalling a paradigm shift, reported Business Times. JLL regional director of investments Tan Hong Boon noted\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76392,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-condo-sold-en-bloc-for-840-89m\/","url_meta":{"origin":67336,"position":3},"title":"Park West condo sold en bloc for $840.89m","date":"January 12, 2018","format":false,"excerpt":"\r Third time\u2019s a charm. The owners of Park West have finally succeeded in selling the condominium via collective sale after two previous attempts which ended in failure. According to an SGX filing on Thursday (11 January), the residents accepted an $840.89 million offer from SingHaiyi Gold Pte Ltd, a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106131,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-gazania-and-the-lilium-to-preview-on-thursday\/","url_meta":{"origin":67336,"position":4},"title":"The Gazania And The Lilium To Preview On Thursday","date":"April 16, 2019","format":false,"excerpt":"\r Artist\u2019s impression of The Gazania. SingHaiyi Group is set to open the showflats for its twin freehold residential developments \u2013\u00a0The Gazania and The Lilium \u2013 for preview on Thursday (18 April). Located close to each other, The Gazania on How Sun Drive comprises seven five-storey blocks with 250 units,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73203,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-sun-park-sold-for-81-09mil\/","url_meta":{"origin":67336,"position":5},"title":"How Sun Park sold for $81.09mil","date":"November 29, 2017","format":false,"excerpt":"\r How Sun Park, a freehold three-storey development comprising 20 units, has been sold for $81.09 million to a SingHaiyi Group subsidiary, SingHaiyi Huajiang Amber Pte. Ltd. The property has a site area of around 5,104.3 sq m and a gross plot ratio of 1.4. Inclusive of an estimated development\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\/67336"}],"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=67336"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/67336\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=67336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=67336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=67336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}