{"id":79456,"date":"2018-02-09T10:43:12","date_gmt":"2018-02-09T03:43:12","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-has-big-plans-for-kismis-view-site\/"},"modified":"2018-02-09T11:09:40","modified_gmt":"2018-02-09T04:09:40","slug":"roxy-pacific-has-big-plans-for-kismis-view-site","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-has-big-plans-for-kismis-view-site\/","title":{"rendered":"Roxy-Pacific has big plans for Kismis View site"},"content":{"rendered":"


\nA 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)
\nFollowing their $102.75 million en bloc purchase of the 90,863 sq ft Kismis View site last month, Roxy-Pacific Holdings and its joint venture partner now intend to buy an adjacent plot measuring 9,473 sq ft.
\n\u201cRoxy-TE2 Development has entered into a put and call option agreement to acquire the property known as 19 Lorong Kismis in Land Lot 656A MK5 at a purchase price of $5.69 million,\u201d said an SGX filing released on Thursday (8 February).
\nSEE ALSO: Kismis View sold en bloc for $102.75m
\nRoxy-Pacific Holdings holds a 60 percent stake in this entity, while the remaining 40 percent is owned by TE2 Development, a private family office of Tong Eng Group\u2019s group managing director, Teo Tong Lim.
\n\u201cThe put and call option agreement is subject to and conditional upon, inter alia, the obtaining of in-principle approval from the Singapore Land to issue a fresh 99 years lease for both sites and an Order for Sale from the Strata Titles Board or the High Court (as may be necessary) approving the sale of Kismis View,\u201d they said.
\nThe 99-year leasehold tenure of the smaller site and Kismis View respectively commenced from 1960 and 1984. Both are zoned for residential use and each have an existing gross plot ratio (GPR) of 1.4.
\nFurthermore, Roxy-Pacific and TE2 Development intend to combine both plots to create a residential redevelopment with a combined land area of approximately 100,336 sq ft.
\nThe $5.69 million acquisition of 19 Lorong Kismis will be funded by bank loans and internal funds.
\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…Roxy-Pacific has big plans for Kismis View site<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A Roxy-Pacific led joint venture intends to combine the Kismis View site with an adjacent...<\/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-79456","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-kFy","jetpack-related-posts":[{"id":91214,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-set-to-redevelop-kismis-view-en-bloc-site\/","url_meta":{"origin":79456,"position":0},"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":77624,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kismis-view-sold-en-bloc-for-102-75m\/","url_meta":{"origin":79456,"position":1},"title":"Kismis View sold en bloc for $102.75m","date":"January 22, 2018","format":false,"excerpt":"\r The residents of the 43-unit residential development will receive gross sales proceeds ranging from $1.6 million to $3.3 million. (Photo: JLL) Kismis 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78203,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-unit-te2-acquire-the-wilshire-for-98-8mil\/","url_meta":{"origin":79456,"position":2},"title":"Roxy Pacific unit, TE2 acquire The Wilshire for $98.8mil","date":"January 29, 2018","format":false,"excerpt":"\r A joint venture of RP Ventures Pte Ltd and TE2 Development Pte Ltd has acquired The Wilshire for $98.8 million, which works out to a land rate of $1,536 psf per plot ratio (ppr), revealed Savills Singapore, which brokered the deal. RP Ventures Pte Ltd is a subsidiary of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72637,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kismis-view-up-for-en-bloc-sale-for-102mil\/","url_meta":{"origin":79456,"position":3},"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":75687,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-freehold-landed-projects-off-upper-bukit-timah-launching-this-friday\/","url_meta":{"origin":79456,"position":4},"title":"2 freehold landed projects off Upper Bukit Timah launching this Friday","date":"January 3, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Kismis Residences, the first new launch of 2018. \u00a0 Singapore-listed property developer Low Keng Huat is launching two new freehold landed housing projects this Friday (5 January) to kick off 2018, marketing agent ERA Realty Network revealed in a statement.\u00a0 ERA and OrangeTee & Tie are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69798,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-court-sold-to-roxy-pacific-for-36-3m\/","url_meta":{"origin":79456,"position":5},"title":"Dunearn Court sold to Roxy-Pacific for $36.3m","date":"October 23, 2017","format":false,"excerpt":"\r Each owner will receive about $2.91 million to $3.12 million from the sale. (Photo: Knight Frank) The en bloc market continues to roll with the sale of Dunearn Court to RH Central, a subsidiary of Roxy-Pacific Holdings, for $36.3 million. This is slightly lower than the guide price of\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\/79456"}],"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=79456"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/79456\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=79456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=79456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=79456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}