{"id":70106,"date":"2017-10-26T19:30:07","date_gmt":"2017-10-26T12:30:07","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/crystal-tower-relaunched-for-collective-sale-at-lower-price\/"},"modified":"2017-10-26T20:06:17","modified_gmt":"2017-10-26T13:06:17","slug":"crystal-tower-relaunched-for-collective-sale-at-lower-price","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/crystal-tower-relaunched-for-collective-sale-at-lower-price\/","title":{"rendered":"Crystal Tower relaunched for collective sale at lower price"},"content":{"rendered":"


\nBuilt in the 1970s, the 28-unit Crystal Tower is now going for $138 million. (Photo: Edmund Tie)
\nCrystal Tower, a freehold residential site at Ewe Boon Road, has been put up for en bloc sale again at $138 million, marketing agent Edmund Tie & Co. said on Thursday (26 October).
\nThe asking price works out to a land rate of $1,406 psf per plot ratio (psf ppr) based on its existing gross floor area of 98,179 sq ft. No development charge is payable.
\nTwo previous collective sale attempts back in 2011 and 2012 saw higher asking prices of $155 million ($1,600 psf ppr) and $150 million ($1,458 psf ppr), respectively.
\nIf the sale goes through, the apartment owners will get about $4.6 million to $5.0 million, while the penthouse owners will get around $9.2 million.
\nBuilt in the 1970s, the project comprises 28 apartments and is situated on elevated land measuring about 60,482 sq ft. The site is zoned for residential use at a gross plot ratio of 1.6 under the 2014 Master Plan.
\nLocated off Bukit Timah Road in prime District 10, Crystal Tower is close to the Stevens and Newton MRT stations. The Botanic Gardens, Dempsey Hill and established schools such as Anglo-Chinese School (Primary) and Singapore Chinese Girls\u2019 School are also nearby. \u00a0
\nSwee Shou Fern, senior director, investment advisory at Edmund Tie & Co. said: \u201cWe are expecting strong interest for Crystal Tower given its prime location and ideal size, which is perfect for an upscale boutique residential project of around 130 units assuming an average apartment size of 70 sq m (753 sq ft).
\n\u201cProjects in the area have experienced brisk sales in recent months. With limited remaining stock and pipeline supply in the immediate vicinity, it is timely for a new condominium project in the near future.\u201d
\nThe tender exercise for the site will close on 28 November.
\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…Crystal Tower relaunched for collective sale at lower price<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Built in the 1970s, the 28-unit Crystal Tower is now going for $138 million. (Photo:...<\/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-70106","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-ieK","jetpack-related-posts":[{"id":73625,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-projects-sold-en-bloc-for-over-658mil\/","url_meta":{"origin":70106,"position":0},"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":[]},{"id":84896,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/casa-meyfort-and-landmark-tower-up-for-collective-sale\/","url_meta":{"origin":70106,"position":1},"title":"Casa Meyfort and Landmark Tower up for collective sale","date":"April 10, 2018","format":false,"excerpt":"\r The 139-unit Landmark Tower near Pearl\u2019s Hill City Park has a reserve price of $285 million, or $1,400 psf ppr. (Photo: JLL) Encouraged by the 3.8 percent hike in private home prices in the Outside Central Region as per the Urban Redevelopment Authority\u2019s quarterly flash estimates, the owners of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83363,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/olina-lodge-verdun-house-launched-for-collective-sale\/","url_meta":{"origin":70106,"position":2},"title":"Olina Lodge, Verdun House launched for collective sale","date":"March 22, 2018","format":false,"excerpt":"\r Completed in 1990, the freehold Olina Lodge has a reserve price of $220 million. (Photo: SRI) The collective sales fever continues to heat up with the recent launch of two freehold developments \u2013 Olina Lodge and Verdun House, revealed marketing agent Singapore Realtors Inc (SRI). Located at 15 Holland\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69286,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/changi-garden-sold-for-248-8m\/","url_meta":{"origin":70106,"position":3},"title":"Changi Garden sold for $248.8m","date":"October 17, 2017","format":false,"excerpt":"\r The apartment owners will receive between $2.14 million and $2.27 million. (Photo: Edmund Tie) Changi 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). The buyer is CEL Development, a member\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109476,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/watten-estate-condominium-up-for-en-bloc-sale-for-536m\/","url_meta":{"origin":70106,"position":4},"title":"Watten Estate Condominium up for en bloc sale for $536m","date":"July 30, 2019","format":false,"excerpt":"\r Located at Shelford Road, the condominium is nestled on a sprawling 220,234 sq ft site, which is zoned residential with a gross plot ratio of 1.4 and a total allowable gross floor area of 308,341 sq ft.\u00a0After factoring in the additional buyer\u2019s stamp duty, the development is \u201cattractively priced\u201d\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mayfair-gardens-up-for-en-bloc-sale-at-265m\/","url_meta":{"origin":70106,"position":5},"title":"Mayfair Gardens up for en bloc sale at $265m","date":"October 23, 2017","format":false,"excerpt":"\r The asking price works out to a land rate of around $1,058 psf per plot ratio. 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