{"id":69286,"date":"2017-10-17T21:00:52","date_gmt":"2017-10-17T14:00:52","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/changi-garden-sold-for-248-8m\/"},"modified":"2017-10-17T21:03:33","modified_gmt":"2017-10-17T14:03:33","slug":"changi-garden-sold-for-248-8m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/changi-garden-sold-for-248-8m\/","title":{"rendered":"Changi Garden sold for $248.8m"},"content":{"rendered":"


\nThe apartment owners will receive between $2.14 million and $2.27 million. (Photo: Edmund Tie)
\nChangi Garden is the latest development to be sold in an en bloc sale for $248.8 million, revealed marketing agent Edmund Tie & Co. on Tuesday (17 October).
\nThe buyer is CEL Development, a member of Chip Eng Seng Group.
\nThe price works out to about $888 psf per plot ratio (psf ppr), and is much higher than the asking price of $196 million ($700 psf ppr).
\nLocated at Upper Changi Road North, the freehold property sits on approximately 200,093 sq ft of land. The site is zoned residential with a plot ratio of 1.4, according to the 2014 Master Plan.
\nDeveloped in the late 1970s and early 1980s, Changi Garden comprises 60 apartments, 12 penthouses and 12 shops.
\nThe apartment owners will receive between $2.14 million and $2.27 million, while penthouse owners will get between $4.03 million and $4.74 million. Shop owners are expected to receive $4.7 million to $7.08 million.
\n\u201cIn addition to the high development baseline, we have also shared feedback and advice which we obtained from the relevant authorities with developers,\u201d said Tan Chun Ming, director of investment advisory at Edmund Tie & Co.
\n\u201cFurthermore, there has not been any residential land sold within a 2.8km radius of Changi Garden since 2013. All these are selling points that developers would find attractive.\u201d
\nCEL Development is expected to build a residential project that could incorporate a retail component, subject to the approval of the relevant authorities. \u00a0
\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…Changi Garden sold for 8.8m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The apartment owners will receive between $2.14 million and $2.27 million. (Photo: Edmund Tie) Changi...<\/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-69286","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-i1w","jetpack-related-posts":[{"id":65708,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/changi-garden-put-up-for-collective-sale-at-196-million\/","url_meta":{"origin":69286,"position":0},"title":"Changi Garden put up for collective sale at $196 million","date":"September 7, 2017","format":false,"excerpt":"\r The homeowners are expecting between $1.69 million and $3.74 million from the sale. (Photo: Edmund Tie) Changi Garden, a freehold redevelopment site at Upper Changi Road North, will be launched for collective sale on Friday (8 September) with an asking price of $196 million, or $700 psf per plot\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111271,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cascadale-at-upper-changi-road-east-attempts-second-collective-sale\/","url_meta":{"origin":69286,"position":1},"title":"Cascadale at Upper Changi Road East attempts second collective sale","date":"October 2, 2019","format":false,"excerpt":"\r It has an owners\u2019 reserve price of $270 million that works out to around $1,065 per square foot (psf) per plot ratio (ppr). The 134-unit freehold residential development Cascadale, located near the Singapore Expo and the Singapore University of Technology & Design (SUTD), is attempting a collective sale for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80679,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-sites-launched-for-sale-including-fairhaven-and-pomex-court\/","url_meta":{"origin":69286,"position":2},"title":"3 sites launched for sale, including Fairhaven and Pomex Court","date":"February 22, 2018","format":false,"excerpt":"\r The owners of Fairhaven (pictured) are expecting bids in excess of $45 million. (Photo: JLL) Three private residential sites have been put up for sale by different marketing agents for a total of more than $181 million. On Wednesday (21 February), a rare 9,999-year leasehold housing site in 1\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104889,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/selegie-centre-sold-en-bloc-for-120m\/","url_meta":{"origin":69286,"position":3},"title":"Selegie Centre sold en bloc for $120m","date":"March 11, 2019","format":false,"excerpt":"\r Katong Plaza, another mixed-use development, has been relaunched for en bloc sale at an asking price of $188 million ($1,968 psf ppr). Mixed-use development Selegie Centre has finally been sold at its $120 million reserve price, or $1,942 psf per plot ratio (psf ppr), following two failed en bloc\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107156,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/parc-komo-in-changi-opens-for-preview-this-weekend\/","url_meta":{"origin":69286,"position":4},"title":"Parc Komo in Changi opens for preview this weekend","date":"May 16, 2019","format":false,"excerpt":"\r Parc Komo is pipped to be the most affordable freehold project with an average price of $1,450 psf. The Parc Komo mixed-use development in Changi will open for preview this Saturday (May 18), said its developer CEL Development. Sitting on a 202,000 sq ft freehold site, the project is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73625,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-projects-sold-en-bloc-for-over-658mil\/","url_meta":{"origin":69286,"position":5},"title":"2 projects sold en bloc for over $658mil","date":"December 4, 2017","format":false,"excerpt":"\r Royalville attracted a total of nine bids which surpassed the $368m asking price. (Photo: Edmund Tie & Co) Marketing agent Edmund Tie & Co announced on Friday (1 December) that it successfully sold two existing developments via collective sale for a total of $658.59 million. In particular, Royalville in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/12\/Crystal-Tower-e1512356063925.jpg?fit=620%2C310&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/69286"}],"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=69286"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/69286\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=69286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=69286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=69286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}