{"id":77624,"date":"2018-01-22T09:29:51","date_gmt":"2018-01-22T02:29:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/kismis-view-sold-en-bloc-for-102-75m\/"},"modified":"2018-01-22T10:02:51","modified_gmt":"2018-01-22T03:02:51","slug":"kismis-view-sold-en-bloc-for-102-75m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kismis-view-sold-en-bloc-for-102-75m\/","title":{"rendered":"Kismis View sold en bloc for $102.75m"},"content":{"rendered":"


\nThe residents of the 43-unit residential development will receive gross sales proceeds ranging from $1.6 million to $3.3 million. (Photo: JLL)
\nKismis View, a 99-year leasehold condominium built in 1984 and sited on a 90,863 sq ft land parcel in Upper Bukit Timah, has been purchased via collective sale for $102.75 million.
\n\u201cThe sale price reflects a land rate of approximately $941 psf per plot ratio (ppr), including an estimated premium to top up the lease to a fresh 99-year term of approximately $17 million,\u201d said marketing agent JLL\u2019s regional director Tan Hong Boon.
\nAt this price, residents of the five-storey development with a total of 43 units and existing plot ratio of 1.4 will receive gross sales proceeds ranging from $1.6 million to $3.3 million.
\nTan noted that the developer can build up to 168 units with a minimum average size of 70 sq m (753 sq ft) on the site. There is also no development charge payable.
\nKismis View was jointly acquired by Roxy-Pacific Holdings\u2019 wholly-owned unit RP Ventures and TE2 Development, a private family office of Tong Eng Group\u2019s group managing director, Teo Tong Lim.
\nAccording to an SGX filing on Friday (19 January), both parties plan to create a new company to undertake the site\u2019s redevelopment, wherein Roxy-Pacific will hold a 60 percent stake, while TE2 will own the remaining 40 percent.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Kismis View sold en bloc for 2.75m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The residents of the 43-unit residential development will receive gross sales proceeds ranging from $1.6...<\/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-77624","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-kc0","jetpack-related-posts":[{"id":72637,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kismis-view-up-for-en-bloc-sale-for-102mil\/","url_meta":{"origin":77624,"position":0},"title":"Kismis View up for en bloc sale for $102mil","date":"November 23, 2017","format":false,"excerpt":"\r Kismis View is a 99-year leasehold condominium development located at District 21. (Photo: JLL) Kismis View along Lorong Kismis within the Upper Bukit Timah area has been put up for en bloc sale, with the owners setting the minimum price at $102 million, revealed marketing agent JLL. Comprising 43\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79456,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-has-big-plans-for-kismis-view-site\/","url_meta":{"origin":77624,"position":1},"title":"Roxy-Pacific has big plans for Kismis View site","date":"February 9, 2018","format":false,"excerpt":"\r A Roxy-Pacific led joint venture intends to combine the Kismis View site with an adjacent plot to create a huge residential redevelopment measuring 100,336 sq ft. (Photo: JLL) Following their $102.75 million en bloc purchase of the 90,863 sq ft Kismis View site last month, Roxy-Pacific Holdings and its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91214,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-set-to-redevelop-kismis-view-en-bloc-site\/","url_meta":{"origin":77624,"position":2},"title":"Roxy-Pacific set to redevelop Kismis View en bloc site","date":"June 12, 2018","format":false,"excerpt":"\r A Roxy-Pacific led joint venture intends to combine the Kismis View site with an adjacent plot to create a huge residential redevelopment measuring 100,336 sq ft. (Photo: JLL) Singapore-listed property developer Roxy-Pacific Holdings is poised to redevelop the Kismis View en bloc site after obtaining the necessary approvals, revealed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81668,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hollandia-in-district-10-sold-for-183-38m\/","url_meta":{"origin":77624,"position":3},"title":"Hollandia in District 10 sold for $183.38m","date":"March 2, 2018","format":false,"excerpt":"\r The owners could receive gross sale proceeds ranging from $3.3 million to $4.2 million. (Photo: Savills Singapore) The 48-unit Hollandia development at the junction of Holland Road and Queensway has been sold through a collective sale to FEC Properties for $183.38 million, or a unit land rate of about\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89093,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landmark-tower-near-chinatown-sold-for-286m\/","url_meta":{"origin":77624,"position":4},"title":"Landmark Tower near Chinatown sold for $286m","date":"May 23, 2018","format":false,"excerpt":"\r The purchase price works out to a land rate of about $1,406 psf per plot ratio. (Photo: JLL)\u00a0 Landmark Tower, a 139-unit development at Chin Swee Road in District 3, has been sold for $286 million to a joint-venture company, one of which is a public-listed company, marketing agent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-condos-up-for-en-bloc-sale\/","url_meta":{"origin":77624,"position":5},"title":"Four condos up for en bloc sale","date":"November 16, 2017","format":false,"excerpt":"\r Derby Court is a freehold condominium development located at 5, Derbyshire Road in District 11 near Novena MRT station. (Photo: JLL) Four residential developments, including the iconic Pearlbank Apartments in Outram, have been put up in separate tenders for en bloc sale. The others are Parkway Mansion in Katong,\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\/77624"}],"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=77624"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/77624\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=77624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=77624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=77624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}