{"id":73625,"date":"2017-12-04T10:00:44","date_gmt":"2017-12-04T03:00:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-projects-sold-en-bloc-for-over-658mil\/"},"modified":"2017-12-04T10:03:13","modified_gmt":"2017-12-04T03:03:13","slug":"2-projects-sold-en-bloc-for-over-658mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-projects-sold-en-bloc-for-over-658mil\/","title":{"rendered":"2 projects sold en bloc for over $658mil"},"content":{"rendered":"


\nRoyalville attracted a total of nine bids which surpassed the $368m asking price. (Photo: Edmund Tie & Co)
\nMarketing 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.
\nIn particular, Royalville in Bukit Timah Road received nine bids. Allgreen Properties\u2019s unit Sky Top Investments submitted the highest price of $477.94 million or $1,960 psf per plot ratio (ppr), surpassing the asking price of $368 million.
\nBuilt in the mid-1980s, the development consists of 11 shops, 38 maisonettes and 55 apartments. Apartment owners will get between $3.09 million and $3.76 million, maisonette owners will receive $5.42 million to $6.64 million, while those with shops will obtain $5.67 million to $10.38 million.
\nUnder the 2014 Master Plan, the 174,176 sq ft freehold site located near the Sixth Avenue MRT station is zoned for residential use with a gross plot ratio of 1.4. The winning bidder can redevelop it into a luxury condominium with up to 323 units.
\nA view of Crystal Tower which occupies a prime District 10 freehold site. (Photo: Edmund Tie & Co)
\nMeanwhile, Crystal Tower at Ewe Boon Road attracted 12 bids, with Allgreen Properties clinching the residential project for $180.65 million or $1,840 psf ppr.
\nCompleted in the 1970s, Crystal Tower comprises 28 apartments. Each apartment owner will get $6.0 million to $6.6 million, while the penthouse owner will receive around $12.3 million.
\nUnder the Master Plan, the 60,482 sq ft freehold plot is intended for residential use at a gross plot ratio of 1.6. Subject to the government\u2019s approval, it can be redeveloped into a 130-unit condominium up to its existing gross floor area of 98,179 sq ft. No development charge is payable.
\nWith these two en bloc transactions, Edmund Tie & Co has brokered the sale of eight development sites collectively worth $1.6 billion so far this year.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…2 projects sold en bloc for over 8mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Royalville attracted a total of nine bids which surpassed the $368m asking price. (Photo: Edmund...<\/p>\n","protected":false},"author":1,"featured_media":73626,"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-73625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/12\/Crystal-Tower-e1512356063925.jpg?fit=620%2C310&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-j9v","jetpack-related-posts":[{"id":68892,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/another-condo-goes-en-bloc-this-time-in-bukit-timah\/","url_meta":{"origin":73625,"position":0},"title":"Another condo goes en bloc, this time in Bukit Timah","date":"October 12, 2017","format":false,"excerpt":"\r Built in the 1980s, Royalville comprises 93 apartments and 11 shops. (Photo: Edmund Tie & Company) The en bloc frenzy continues after Royalville at Bukit Timah Road became the latest project to be put up for sale on Thursday (12 October). The freehold condominium in District 10 joins a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71438,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/royalvilles-tender-closing-date-extended-to-30-nov\/","url_meta":{"origin":73625,"position":1},"title":"Royalville\u2019s tender closing date extended to 30 Nov","date":"November 10, 2017","format":false,"excerpt":"\r Royalville is a freehold apartment development completed in 1988 which comprises of 93 units. (Photo: Edmund Tie & Company) The tender closing date for Royalville at Bukit Timah Road will be extended from 10 November to 30 November, revealed its marketing agent Edmund Tie & Company. Nestled on a\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":73625,"position":2},"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. (Photo: Knight Frank) Mayfair Gardens off Dunearn Road has been launched for collective sale, with the owners expecting offers above the reserve price of $265 million, according to marketing agent Knight Frank. Built\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":73625,"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":73900,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jervois-green-sold-for-52-9mil-brookvale-park-up-for-en-bloc-sale\/","url_meta":{"origin":73625,"position":4},"title":"Jervois Green sold for $52.9mil, Brookvale Park up for en bloc sale","date":"December 7, 2017","format":false,"excerpt":"\r Singapore\u2019s collective sale market continued to heat up with the sale of\u00a0 Jervois Green and the launch of Brookvale Park. A four-storey freehold development at 100A Jervois Road, Jervois Green has been sold for $52.9 million to investors led by Mike Ho, third-generation owner of Spring Court, one of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75429,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/top-10-stories-of-2017\/","url_meta":{"origin":73625,"position":5},"title":"Top 10 stories of 2017","date":"December 29, 2017","format":false,"excerpt":"\r Singapore\u2019s real estate market has turned a new leaf, and with 2017 nearing its end, we take another look at the ten most read stories on PropertyGuru this year. \u00a0 Real estate experts revealed in March that the expected interest rate hikes by the US Federal Reserve this year\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\/73625"}],"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=73625"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/73625\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/73626"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=73625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=73625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=73625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}