{"id":83651,"date":"2018-03-24T07:00:22","date_gmt":"2018-03-24T00:00:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/fairhaven-at-sophia-road-sold-for-57m\/"},"modified":"2018-03-24T16:03:16","modified_gmt":"2018-03-24T09:03:16","slug":"fairhaven-at-sophia-road-sold-for-57m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fairhaven-at-sophia-road-sold-for-57m\/","title":{"rendered":"Fairhaven at Sophia Road sold for $57m"},"content":{"rendered":"


\nThe winning bid is 21 percent higher than the reserve price of $45 million. (Photo: JLL)
\nFollowing a tender exercise that attracted several competitive bids, the freehold Fairhaven condominium at Sophia Road in District 9 has been sold for $57 million to Gioia Fund, a wholly-owned subsidiary of investment holding company Lafe Corp.
\nThe five-storey development comprising 15 apartments sits on a 16,660 sq ft site that is close to Orchard Road and the Dhoby Ghaut interchange station.
\nMore: 3 sites launched for sale, including Fairhaven and Pomex Court
\nThe winning bid is 21 percent higher than the reserve price of $45 million, and works out to a land rate of about $1,629 psf per plot ratio.
\n\u201cAt this sale price, the owners would expect to receive gross sales proceeds of between $3.5 and $6.9 million per unit,\u201d said Yong Choon Fah, national director at JLL, which brokered the deal.
\nZoned for residential use with a gross plot ratio of 2.1, the site has a high development baseline. The developer could potentially build up to 34,986 sq ft without paying any additional development charge.
\nCheck out our\u00a0project reviews in District 9.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Fairhaven at Sophia Road sold for m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The winning bid is 21 percent higher than the reserve price of $45 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-83651","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-lLd","jetpack-related-posts":[{"id":80679,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/3-sites-launched-for-sale-including-fairhaven-and-pomex-court\/","url_meta":{"origin":83651,"position":0},"title":"3 sites launched for sale, including Fairhaven and Pomex Court","date":"February 22, 2018","format":false,"excerpt":"\r The owners of Fairhaven (pictured) are expecting bids in excess of $45 million. (Photo: JLL) Three private residential sites have been put up for sale by different marketing agents for a total of more than $181 million. On Wednesday (21 February), a rare 9,999-year leasehold housing site in 1\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118271,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-en-block-market-grinds-to-a-halt-with-arrival-of-covid-19\/","url_meta":{"origin":83651,"position":1},"title":"Singapore\u2019s en block market grinds to a halt with arrival of COVID-19","date":"August 18, 2020","format":false,"excerpt":"\r There had only been six launches in the en bloc market since January, prior to the COVID-19 outbreak in Singapore, with only one deal closed. Photo:\u00a0Three adjoining property blocks at 2, 4 and 6 Mount Emily Road The start of the COVID-19 pandemic saw the slowing collective sale market\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119997,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mount-emily-residential-buildings-on-sale-for-18mil\/","url_meta":{"origin":83651,"position":2},"title":"Mount Emily residential buildings on sale for $18mil","date":"January 19, 2021","format":false,"excerpt":"\r Mount Emily residential buildings on sale for $18milLocated 200 m away from Little India MRT interchange, the freehold properties\u00a0are near Mount Emily Park, Orchard Road and the central business district. Image: Edmund Tie & Company A portfolio of three freehold residential buildings at 2, 4 and 6 Mount Emily\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/2-4-6-Mount-Emily-Road.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":138783,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tmw-maxwell-the-arden-and-orchard-sophia-launch-over-the-weekend-and-more\/","url_meta":{"origin":83651,"position":3},"title":"TMW Maxwell, The Arden, and Orchard Sophia Launch Over the Weekend, and More","date":"August 14, 2023","format":false,"excerpt":"\r 8 to 14 August 2023 Three Q3 2023 major new condos \u2013 TMW Maxwell, The Arden, and Orchard Sophia\u00a0\u2013 launched over the weekend. Meanwhile, ahead of Prime Minister Lee Hsien Loong\u2019s National Day Rally 2023 speech, property experts predict the announcements he could make. \u00a0 1. TMW Maxwell sells\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/08\/singapore-ann-siang-hill.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5534,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lets-move-to-lytham-st-annes-lancashire\/","url_meta":{"origin":83651,"position":4},"title":"Let\u2019s move to Lytham St Annes, Lancashire","date":"May 22, 2015","format":false,"excerpt":"\r So posh it has four golf courses; it\u2019s the yin to neighbour Blackpool\u2019s yangWhat\u2019s going for it? I can\u2019t see the words Lytham St Annes without hearing them in Les Dawson\u2019s voice, punchline to a gag, perhaps, involving spinster aunts and the unorthodox use of a mangle. LSA (as\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113600,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/casa-sophia-finally-sold-en-bloc-for-29-million\/","url_meta":{"origin":83651,"position":5},"title":"Casa Sophia finally sold en bloc for $29 million","date":"January 14, 2020","format":false,"excerpt":"\r The price works out to a land rate of $1,200 per sq ft per plot ratio (psf ppr). Casa Sophia, a 12-unit freehold residential development located along Sophia Road, has been sold en bloc for $29 million, reported The Business Times. Including a development charge of around $2.2 million,\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\/83651"}],"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=83651"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/83651\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=83651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=83651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=83651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}