{"id":74414,"date":"2017-12-13T10:00:18","date_gmt":"2017-12-13T03:00:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-heights-eyes-80mil-in-collective-sale-tender\/"},"modified":"2017-12-13T10:03:01","modified_gmt":"2017-12-13T03:03:01","slug":"cairnhill-heights-eyes-80mil-in-collective-sale-tender","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-heights-eyes-80mil-in-collective-sale-tender\/","title":{"rendered":"Cairnhill Heights eyes $80mil in collective sale tender"},"content":{"rendered":"


\nCairnhill Heights, a 19-unit residential development at Cairnhill Rise, is set to be launched for en bloc sale tender on 19 December, reported Business Times.
\nThis comes after over 90 percent of the owners have agreed to the sale.
\nThe owners are looking at a sale price of more than $80 million. Inclusive of the development charge payable, the price works out to a land rate of $2,045 psf per plot ratio.
\nConsultants believe that the asking price works out to an estimated break-even price of between $2,400 psf and $2,600 psf.
\nLocated near the Orchard Road shopping belt and Mount Elizabeth Hospital, the freehold development was built in the 1990s on a 15,408 sq ft site. Under the 2014 Master Plan, the site is zoned for residential use and has a gross plot ratio of 2.8.
\nMarketing agent ERA Realty Network revealed that the site could be redeveloped up to a gross floor area of 47,455 sq ft, which reflects an equivalent plot ratio of 3.08, subject to the approval of the relevant authorities. It noted that some development charge is payable to maximise the 3.08 plot ratio potential.
\n\u201cCairnhill Heights is located in a mature residential precinct where there are not many redevelopment sites left,\u201d said Jeremy Rikas Chiu, group division director at ERA Realty Network.
\n\u201cThe development can be rebuilt into an upscale two-bedroom boutique residential project with approximately 42 units, assuming an average apartment size of 1,100 sq ft.\u201d
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Cairnhill Heights eyes mil in collective sale tender<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Cairnhill Heights, a 19-unit residential development at Cairnhill Rise, is set to be launched for...<\/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-74414","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-jme","jetpack-related-posts":[{"id":98050,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-condos-in-district-9-up-for-en-bloc-sale-again\/","url_meta":{"origin":74414,"position":0},"title":"Two freehold condos in District 9 up for en bloc sale again","date":"September 18, 2018","format":false,"excerpt":"\r Located near Orchard Road, Grange Heights is making a second attempt at a collective sale. (Photo: Colliers International) Undeterred by the government\u2019s property cooling measures, two freehold condos in District 9 near the Orchard Road shopping district are making another try at an en bloc sale. Grange Heights along\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88551,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/8-more-properties-launched-for-en-bloc-sale\/","url_meta":{"origin":74414,"position":1},"title":"8 more properties launched for en bloc sale","date":"May 17, 2018","format":false,"excerpt":"\r Cairnhill Astoria (the red building) in prime District 9 has joined a growing list of properties launched for en bloc sale. (Photo: Colliers International) Singapore\u2019s red-hot collective sales market continues to sizzle with more homeowners jumping on the en bloc bandwagon. Cairnhill Astoria in Cairnhill Rise and Trendale Tower\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68318,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-mansions-to-go-on-sale-for-362m\/","url_meta":{"origin":74414,"position":2},"title":"Cairnhill Mansions to go on sale for $362m","date":"October 6, 2017","format":false,"excerpt":"\r The 18-storey Cairnhill Mansions comprises 61 apartments. (Photo: CBRE) The freehold Cairnhill Mansions project in District 9 will be launched for collective sale in a few weeks\u2019 time, marketing agent CBRE revealed on Thursday (5 October). The 61-unit project has a guide price of $362 million, which works out\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69974,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-prime-freehold-sites-up-for-sale-for-a-total-of-477m\/","url_meta":{"origin":74414,"position":3},"title":"Two prime freehold sites up for sale for a total of $477m","date":"October 25, 2017","format":false,"excerpt":"\r Aerial view of 67 Cairnhill Road and Cairnhill Mansions. (Photo: CBRE)\u00a0 Two prime freehold sites in District 9 that are among the few remaining sizeable plots available in Cairnhill Road have been launched for sale by exclusive marketing agent CBRE on Tuesday (24 October). These comprise a 19,800 sq\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81171,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-estoril-tulip-garden-up-for-collective-sale\/","url_meta":{"origin":74414,"position":4},"title":"The Estoril, Tulip Garden up for collective sale","date":"February 27, 2018","format":false,"excerpt":"\r Aerial view of Tulip Garden. (Photo: Colliers International) Two residential developments in prime district 10 \u2013 The Estoril and Tulip Garden \u2013 recently joined the en bloc sale bandwagon. Located at 95 & 97 Holland Road, The Estoril carries a guide price of $220 million, or around $1,625 psf\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93260,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-up-for-en-bloc-sale-for-1-1b\/","url_meta":{"origin":74414,"position":5},"title":"Horizon Towers up for en bloc sale for $1.1b","date":"July 6, 2018","format":false,"excerpt":"\r The reserve price works out to a land rate of $1,964 psf per plot ratio. (Photo: JLL) Horizon Towers, a 211-unit residential development at Leonie Hill in District 9, has been launched for collective sale with a reserve price of $1.1 billion. Including the lease top-up premium of about\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\/74414"}],"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=74414"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/74414\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=74414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=74414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=74414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}