{"id":68548,"date":"2017-10-09T10:12:37","date_gmt":"2017-10-09T03:12:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/florence-regency-looking-for-willing-buyer-for-629m\/"},"modified":"2017-10-09T11:03:45","modified_gmt":"2017-10-09T04:03:45","slug":"florence-regency-looking-for-willing-buyer-for-629m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/florence-regency-looking-for-willing-buyer-for-629m\/","title":{"rendered":"Florence Regency looking for willing buyer for $629m"},"content":{"rendered":"


\nBuilt in the late 1980s, Florence Regency comprises 336 units. (Photo: JLL)
\nJLL, 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 Times.
\nThis comes after bidders in the public tender of the 336-unit development declined to raise their bids.
\nBids for Florence Regency had exceeded the $600 million reserve price. However, none of them met the valuation amount provided by independent valuer Colliers International.
\nJLL had asked the developers who participated in the tender to reconsider their terms and conditions or raise their bids, but the developers declined to do so.
\nWith this, the agent will continue to find a buyer who is willing to acquire the estate at or above its valuation price over a 10-week private treaty period. Should no buyer be found by 5 December, then the owners will be forced to consider another tender exercise in January 2018.
\nWith a gross plot ratio of 2.8 under the 2014 Master Plan, the 389,236 sq ft site, which has a balance lease term of around 71 years, could support a total gross floor area of over 1.1 million sq ft, or about 1,100 to 1,300 housing units.
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Florence Regency looking for willing buyer for 9m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Built in the late 1980s, Florence Regency comprises 336 units. (Photo: JLL) JLL, the marketing...<\/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-68548","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-hPC","jetpack-related-posts":[{"id":64204,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/florence-regency-up-for-collective-sale\/","url_meta":{"origin":68548,"position":0},"title":"Florence Regency up for collective sale","date":"August 22, 2017","format":false,"excerpt":"\r Built 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) Former\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":68548,"position":1},"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":68548,"position":2},"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":68548,"position":3},"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":64126,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-owners-make-third-collective-sale-attempt\/","url_meta":{"origin":68548,"position":4},"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":37204,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-receives-14-bids-for-margaret-drive-site\/","url_meta":{"origin":68548,"position":5},"title":"URA receives 14 bids for Margaret Drive site","date":"December 6, 2016","format":false,"excerpt":"\r The 0.48ha site is within proximity to two MRT stations. Source: URA The tender for a residential site at Margaret Drive in Queenstown closed on Tuesday (6 December) after attracting 14 bids from developers, said the Urban Redevelopment Authority (URA). MCL Land (Regency) submitted the top bid of $238.39\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\/68548"}],"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=68548"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/68548\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=68548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=68548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=68548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}