{"id":83933,"date":"2018-03-28T10:01:41","date_gmt":"2018-03-28T03:01:41","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-acquires-ampas-apartments-in-balestier-for-95m\/"},"modified":"2018-03-28T10:03:02","modified_gmt":"2018-03-28T03:03:02","slug":"oxley-acquires-ampas-apartments-in-balestier-for-95m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-acquires-ampas-apartments-in-balestier-for-95m\/","title":{"rendered":"Oxley acquires Ampas Apartments in Balestier for $95m"},"content":{"rendered":"


\nThe freehold Ampas Apartments comprises 43 units and has a site area of 30,239 sq ft.
\nHomegrown developer Oxley Holdings has agreed to acquire all 43 units in the freehold Ampas Apartments for $95 million.
\nThis comes after its wholly-owned subsidiary Oxley Jasper exercised the option to purchase granted on 24 March.
\nMore: Oxley planning up to 7 S\u2019pore projects for rest of 2018
\nIn an SGX filing on Tuesday (27 Mar), Oxley revealed that it plans to redevelop the 30,239 sq ft site, subject to approval of the relevant authorities.
\nLocated at 5 Jalan Ampas near Balestier Road, the site could be redeveloped into a \u201cresidential development of no less than 26 storeys, with a plot ratio of no less than 2.8 and gross floor area of no less than 7,866.04 sq m (84,669 sq ft)\u201d, it said.
\n\u201cThe new development shall comprise of no less than 120 dwelling units averaging 700 sq ft each.\u201d
\nThe purchase price, which will be funded by internal resources and bank borrowings, was arrived after taking into consideration the current market prices of surrounding properties as well as the company\u2019s assessment of the property\u2019s redevelopment potential.
\nConsidering the development charge payable, the acquisition cost will amount to around $1,073 psf per plot ratio, inclusive of balcony space.
\nOxley does not expect the acquisition to materially affect the company\u2019s earnings per share or net tangible assets per share for the current financial year ending 30 June.
\nCheck out properties for sale in Balestier.
\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…Oxley acquires Ampas Apartments in Balestier for m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The freehold Ampas Apartments comprises 43 units and has a site area of 30,239 sq...<\/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-83933","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-lPL","jetpack-related-posts":[{"id":66072,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-balestier-property-launched-for-sale\/","url_meta":{"origin":83933,"position":0},"title":"Freehold Balestier property launched for sale","date":"September 11, 2017","format":false,"excerpt":"\r Map showing the location of 10A Jalan Ampas in Balestier. Source: Savills A freehold property at 10A Jalan Ampas in Balestier has been launched for sale at a guide price of $16.8 million, marketing agent Savills Singapore said on Monday (11 September). Located within an industrial cluster, the approximately\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":83933,"position":1},"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":[]},{"id":92698,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxleys-the-verandah-residences-fully-sold-within-three-months\/","url_meta":{"origin":83933,"position":2},"title":"Oxley\u2019s The Verandah Residences fully sold within three months","date":"June 28, 2018","format":false,"excerpt":"\r Artist\u2019s impression of The Verandah Residences, a 170-unit freehold project whose design is inspired by Singapore\u2019s black and white colonial bungalows.\u00a0 Oxley Holdings has achieved 100 percent sales at The Verandah Residences within three months since its official launch on 7 April. With average unit prices at $1,795 psf,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94037,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-condos-launched-for-en-bloc-sale\/","url_meta":{"origin":83933,"position":3},"title":"Two freehold condos launched for en bloc sale","date":"July 17, 2018","format":false,"excerpt":"\r Two freehold condominiums in Singapore\u2019s central area have been launched for collective sale despite the new property cooling measures, reported the Business Times. The 24-unit Summer Green in Balestier Road is up for grabs at a reserve price of $48 million, which works to around $1,178 psf per plot\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75297,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-holdings-acquires-freehold-property-from-interested-person\/","url_meta":{"origin":83933,"position":4},"title":"Oxley Holdings acquires freehold property from interested person","date":"December 27, 2017","format":false,"excerpt":"\r Oxley Holdings, via its wholly-owned subsidiary Oxley Amethyst Pte Ltd, has exercised an option to acquire a property along Balestier Road for $38 million from Owen Private Limited. With a land area of around 1,118.4 sq m, the freehold property is zoned residential with commercial on the first storey\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84846,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/149-units-at-park-place-residences-sold-at-average-2000-psf\/","url_meta":{"origin":83933,"position":5},"title":"149 units at Park Place Residences sold at average $2,000 psf","date":"April 9, 2018","format":false,"excerpt":"\r A large crowd of buyers at the Phase 2 sales launch of Park Place Residences at PLQ. (Photo: Lendlease) Two residential projects launched over the weekend (7-8 Apr) drew an overwhelming response from buyers, further boosting property market sentiment. 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