{"id":69564,"date":"2017-10-20T11:24:24","date_gmt":"2017-10-20T04:24:24","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hougang-project-sold-for-629m-in-collective-sale\/"},"modified":"2017-10-20T16:08:21","modified_gmt":"2017-10-20T09:08:21","slug":"hougang-project-sold-for-629m-in-collective-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hougang-project-sold-for-629m-in-collective-sale\/","title":{"rendered":"Hougang project sold for $629m in collective sale"},"content":{"rendered":"


\nThe owners of Florence Regency are expected to receive between $1.84 million and $1.89 million from the sale. (Photo: JLL)
\nThe 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).
\nThis is the first collective sale attempt by the owners of the privatised HUDC, and the price matches the valuation of the site by an independent valuer.
\nIt translates to a land price of approximately $842 psf per plot ratio, after factoring in the differential premium of $288.6 million to top up the lease to a fresh 99 years, and to develop the site to a gross plot ratio of 2.8.
\n\u201cAt this sale price, the owners would expect to receive gross sale proceeds between $1.84 \u2013 $1.89 million per unit,\u201d said Tan Hong Boon, regional director at JLL.\u00a0
\nThe 389,236 sq ft site is zoned residential under the 2014 Master Plan, and is one of the last few privatised HUDC estates in the North-East region.\u00a0
\nThe site is close to the Hougang and Kovan MRT stations, Hougang Mall, and eateries along Upper Serangoon Road. Several schools including Holy Innocents\u2019 Primary School and the French School of Singapore are also nearby.
\nLogan Property marked its maiden foray into Singapore in May with a record $1.003 billion bid for a prime residential site at Stirling Road in Queenstown with Nanshan Group.
\nEarlier this month, JLL helped broker the sale of Amber Park in Katong to City Developments Limited for $906.7 million ($1,515 psf ppr), making it the largest freehold residential collective sale.
\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…Hougang project sold for 9m in collective sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The owners of Florence Regency are expected to receive between $1.84 million and $1.89 million...<\/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-69564","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-i60","jetpack-related-posts":[{"id":69548,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hougang-condo-sold-for-629m-in-collective-sale\/","url_meta":{"origin":69564,"position":0},"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":64204,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/florence-regency-up-for-collective-sale\/","url_meta":{"origin":69564,"position":1},"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":68548,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/florence-regency-looking-for-willing-buyer-for-629m\/","url_meta":{"origin":69564,"position":2},"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":56934,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-estates-gunning-for-en-bloc-sales\/","url_meta":{"origin":69564,"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":69564,"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":68160,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/amber-park-sold-en-bloc-for-906-7m\/","url_meta":{"origin":69564,"position":5},"title":"Amber Park sold en bloc for $906.7m","date":"October 4, 2017","format":false,"excerpt":"\r The owners are expected to receive between $4.3 million and $8.3 million from the successful sale. (Photo: JLL) The Amber Park condominium at Amber Gardens has been sold via collective sale on its fourth attempt to City Developments Limited (CDL) and joint venture partner Hong Realty for $906.7 million,\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\/69564"}],"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=69564"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/69564\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=69564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=69564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=69564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}