{"id":83363,"date":"2018-03-22T10:35:26","date_gmt":"2018-03-22T03:35:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/olina-lodge-verdun-house-launched-for-collective-sale\/"},"modified":"2018-03-22T11:02:55","modified_gmt":"2018-03-22T04:02:55","slug":"olina-lodge-verdun-house-launched-for-collective-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/olina-lodge-verdun-house-launched-for-collective-sale\/","title":{"rendered":"Olina Lodge, Verdun House launched for collective sale"},"content":{"rendered":"


\nCompleted in 1990, the freehold Olina Lodge has a reserve price of $220 million. (Photo: SRI)
\nThe collective sales fever continues to heat up with the recent launch of two freehold developments \u2013 Olina Lodge and Verdun House, revealed marketing agent Singapore Realtors Inc (SRI).
\nLocated at 15 Holland Hill, Olina Lodge has a reserve price of $220 million, which works out to a land rate of $1,631 psf per plot ratio (psf ppr). Completed in 1990, it is the development\u2019s third attempt at an en bloc sale.
\nMore: Freehold Peak Court on sale for $106m
\n\u201cThis land rate is attractive when compared to recent collective sale transactions within District 10, which includes Hollandia at $1,703 psf ppr, Toho Mansion at $1,805 psf ppr, Crystal Tower at $1,840 psf ppr, City Towers at $1,847 psf ppr and Royalville at $1,960 psf ppr,\u201d said SRI.
\nIn fact, the land rate could be reduced further to slightly below $1,500 psf ppr, if the developer opts to build additional 10 percent gross floor area (GFA) for balconies.
\nIt noted that there is also potentially no development charge payable for redevelopment up to a gross plot ratio of 1.6 due to a high development baseline for the 84,288 sq ft site.
\nSubject to the approval of relevant authorities, the successful tenderer could build an upscale 12-storey, 128-unit development, with an average size of 1,000 sq ft per unit.
\nMeanwhile, Verdun House \u2013 a commercial-zoned site that currently houses a mixed development comprising four shops and 12 apartments \u2013 carries an indicative price of about $60 million, or around $2,100 psf ppr.
\nSRI said the owners are seeking clarification from the authorities on the development baseline of their development.
\nLocated right beside Mustafa Centre, Verdun House is approximately 100m to City Square Mall and a short walk from Farrer Park MRT station on the North-East Line. It was completed in 1982.\u00a0
\nThe 7,316 sq ft size could be redeveloped into a fully commercial project with a GFA of around 30,728 sq ft. The new development could comprise 50 commercial units with an average size of 550 sq ft each, subject to approval from authorities.
\nThe tenders for Verdun House and Olina Lodge will close on 18 April and 19 April, respectively.
\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…Olina Lodge, Verdun House launched for collective sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Completed in 1990, the freehold Olina Lodge has a reserve price of $220 million. (Photo:...<\/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-83363","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-lGz","jetpack-related-posts":[{"id":86134,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-olina-lodge-sold-for-230-9m\/","url_meta":{"origin":83363,"position":0},"title":"Freehold Olina Lodge sold for $230.9m","date":"April 23, 2018","format":false,"excerpt":"\r The sale price is 5.0 percent higher than the owners\u2019 reserve price of $220 million, and works out to a land rate of $1,712 psf ppr. (Photo: SRI) The freehold Olina Lodge at 15 Holland Hill has been successfully sold for $230.9 million to Peak Opal, a unit of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87006,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-properties-launched-for-en-bloc-sale\/","url_meta":{"origin":83363,"position":1},"title":"Two freehold properties launched for en bloc sale","date":"May 3, 2018","format":false,"excerpt":"\r Holland Tower in District 10 was put up for sale with a reserve price of $65 million. (Photo: SRI) More homeowners are trying their luck at collective sales, with two freehold developments launched at a combined price of $103 million. The Holland Tower condominium in District 10 was put\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93115,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/st-thomas-lodge-in-district-9-up-for-sale-at-40m\/","url_meta":{"origin":83363,"position":2},"title":"St Thomas Lodge in District 9 up for sale at $40m","date":"July 4, 2018","format":false,"excerpt":"\r The asking price for the apartment block works out to a land rate of $2,293 psf ppr. (Photo: SRI) St Thomas Lodge, a five-unit apartment at 32 St Thomas Walk in District 9, has been put up for sale with a guide price of $40 million, according to marketing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78745,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vicenta-lodge-to-go-en-bloc-for-33-6m\/","url_meta":{"origin":83363,"position":3},"title":"Vicenta Lodge to go en bloc for $33.6m","date":"February 2, 2018","format":false,"excerpt":"\r Built in 1993, the freehold site is located near Kembangan MRT station. (Photo: Century 21) Vicenta Lodge, a freehold residential development in Lorong Marzuki, will be put up for en bloc sale tomorrow (3 February) with a guide price of $33.6 million. This works out to a land rate\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":83363,"position":4},"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":75259,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-more-sites-up-for-collective-sale\/","url_meta":{"origin":83363,"position":5},"title":"Two more sites up for collective sale","date":"December 26, 2017","format":false,"excerpt":"\r Kovan Lodge is a freehold condominium development located at 51A, Kovan Road (S)548135 in District 19. The collective sales market continues to heat up with the launch of two more sites \u2013 the freehold development of Kovan Lodge and 43-unit Ampas Apartments, reported The Straits Times. Nestled on a\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\/83363"}],"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=83363"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/83363\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=83363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=83363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=83363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}