{"id":71867,"date":"2017-11-15T10:21:23","date_gmt":"2017-11-15T03:21:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/tee-land-buying-gilstead-road-condo-for-72m\/"},"modified":"2017-11-15T11:03:12","modified_gmt":"2017-11-15T04:03:12","slug":"tee-land-buying-gilstead-road-condo-for-72m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tee-land-buying-gilstead-road-condo-for-72m\/","title":{"rendered":"TEE Land buying Gilstead Road condo for $72m"},"content":{"rendered":"


\nTEE Land has acquired options to purchase all the 11 units at the freehold Casa Contendere condominium at 35 Gilstead Road in District 11 near Newton MRT station for a total of $72 million.
\n\u201cThe sellers are independent and unrelated third parties,\u201d it stated in a recent SGX filing.
\nAccording to the Business Times, the purchase price translates to $1,638 psf per plot ratio (ppr) and includes a development charge of $15.1 million to intensify the use of the land measuring 3,527.7 sq m.
\nThe company intends to redevelop the property built in 1986, into a block of apartments.
\nThe proposed transaction will be funded by a mix of internal resources and bank loans. It is also not expected to have any material impact on TEE Land\u2019s net tangible assets or earnings per share for the financial year ending 31 May 2018.
\nThe real estate developer added that \u201cthe proposed acquisition is subject to legal due diligence and is expected to be completed by end February 2018.\u201d
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…TEE Land buying Gilstead Road condo for m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

TEE Land has acquired options to purchase all the 11 units at the freehold Casa...<\/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-71867","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-iH9","jetpack-related-posts":[{"id":108222,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tee-land-sells-15-of-48-units-at-lattice-one-preview-weekend\/","url_meta":{"origin":71867,"position":0},"title":"Tee Land sells 15 of 48 units at Lattice One preview weekend","date":"June 18, 2019","format":false,"excerpt":"\r The units were sold at an average price of $1,800 psf, and buyers of these units were all Singaporeans. Tee Land has sold 15 of the 48 units at its Lattice One condominium project at Seraya Crescent, at an average price of $1,800 per sq ft (psf) during its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90742,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-court-elizabeth-towers-launched-for-collective-sale\/","url_meta":{"origin":71867,"position":1},"title":"Gilstead Court, Elizabeth Towers launched for collective sale","date":"June 7, 2018","format":false,"excerpt":"\r Elizabeth Towers off Orchard Road in District 9 has a reserve price of $610 million or $2,416 psf ppr. (Photo: Knight Frank Singapore) The en bloc fever continues to heat up with two more freehold sites \u2013 Gilstead Court and Elizabeth Towers \u2013 launched for sale. The owners of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122166,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-road-residential-site-up-for-sale-for-91-8mil\/","url_meta":{"origin":71867,"position":2},"title":"Gilstead Road residential site up for sale for $91.8mil","date":"September 23, 2021","format":false,"excerpt":"\r Gilstead Road residential site up for sale for $91.8milSole marketing agent Edmund Tie said the price works out to a land rate of about $2,001 per sq ft per plot ratio (psf ppr), including the estimated development charge. Photo: Edmund Tie A freehold residential site at Gilstead Road in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/32_34-Gilstead-Rd_00019-crop.jpg?fit=819%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":89989,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-mansion-in-district-11-up-for-sale-for-at-least-68m\/","url_meta":{"origin":71867,"position":3},"title":"Gilstead Mansion in District 11 up for sale for at least $68m","date":"May 31, 2018","format":false,"excerpt":"\r The freehold project sits on a 35,751 sq ft site and is close to the Newton, Novena and Little India MRT stations. (Photo: Teakhwa Real Estate) Gilstead Mansion, a 24-unit freehold condominium in District 11, has been launched for collective sale via public tender, with the owners hoping to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100496,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-mansion-relaunched-for-collective-sale-at-lower-price\/","url_meta":{"origin":71867,"position":4},"title":"Gilstead Mansion relaunched for collective sale at lower price","date":"October 25, 2018","format":false,"excerpt":"\r The 24-unit residential development has been relaunched for collective sale at a guide price of $65 million. (Photo: Teakhwa Real Estate) In a bid to beat the clock before the new rules on unit sizes outside the central area kick in as well as the chill of property cooling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103483,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-projects-seek-to-revive-en-bloc-attempt-at-lower-prices\/","url_meta":{"origin":71867,"position":5},"title":"Two projects seek to revive en bloc attempt at lower prices","date":"January 30, 2019","format":false,"excerpt":"\r Gilstead Court, a residential development at the Novena-Newton area in District 11, has been relaunched for collective sale via tender at a potentially lower reserve price, revealed marketing agent JLL on Tuesday (29 Jan). The project\u2019s Collective Sale Committee (CSC) has proposed slashing the reserve price to $153 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\/71867"}],"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=71867"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/71867\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=71867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=71867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=71867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}