{"id":86324,"date":"2018-04-24T11:39:17","date_gmt":"2018-04-24T04:39:17","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/entrance-to-the-former-new-world-amusement-park-put-on-sale-at-13-5m\/"},"modified":"2018-04-24T12:03:07","modified_gmt":"2018-04-24T05:03:07","slug":"entrance-to-the-former-new-world-amusement-park-put-on-sale-at-13-5m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/entrance-to-the-former-new-world-amusement-park-put-on-sale-at-13-5m\/","title":{"rendered":"Entrance to the former New World Amusement Park put on sale at $13.5m"},"content":{"rendered":"


\nNew World Amusement Park was a once famous venue that entertained night crowds from the 1920s to 1960s. (Photo: JLL)
\nA freehold commercial site along Jalan Besar Road with a long and rich history has been put up for sale via an expression of interest (EOI) at a guide price of $13.5 million.
\nMarketing agent JLL said the 3,230 sq ft plot is situated at the entrance to the former New World Amusement Park. Opened in 1923, the once famous venue entertained night crowds with its cabarets, circus acts and open-air cinemas. But after the 1960s, the venue went into decline due to the emergence of other entertainment options like discos, malls and television.
\nMore: Sembawang Shopping Centre Sold To Lian Beng Joint Venture For $248m
\nIn 1987, Shaw Organisation sold the amusement park to City Developments Limited. The site was subsequently redeveloped into the eight-storey City Square Mall and the 910-unit City Square Residences condo. Completed in 2009, the project includes a public park that features the original gate to the defunct amusement park.
\nJLL revealed that the price translates to a land rate of about $1,392 psf per plot ratio. No development charge is payable.
\nLocated close to the Lavender, Bendemeer and Farrer Park MRT stations, the site has a gross plot ratio of 3.0. It also enjoys a 10m wide main road frontage.
\nSubject to approval, the site can be used for F&B, office, co-working and retail purposes, among other uses.
\n\u201cAfter factoring in the development cost, the breakeven for the new development would be in the region of $1,925 psf. This compares favourably to the average price of $5,000 to $5,500 psf achieved for the strata retail units and $2,400 to $2,500 psf for the strata office units at the nearby Arc 380 and Centrum Square,\u201d noted Clemence Lee, JLL\u2019s associate director for capital markets.
\nThere is no Additional Buyer\u2019s Stamp Duty or Seller\u2019s Stamp Duty, and foreigners are allowed to purchase the site.
\nThe EOI exercise will close on 30 May.
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Entrance to the former New World Amusement Park put on sale at .5m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New World Amusement Park was a once famous venue that entertained night crowds from the...<\/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-86324","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-msk","jetpack-related-posts":[{"id":99340,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gcb-of-former-hdb-chairman-sold-for-nearly-94m\/","url_meta":{"origin":86324,"position":0},"title":"GCB of former HDB chairman sold for nearly $94m","date":"October 8, 2018","format":false,"excerpt":"\r The sale price of the bungalow at Dalvey Road is lower than the expected price of about $100 million. (Photo: JLL) The freehold good class bungalow (GCB) of Lim Kim San, the Housing and Development\u2019s Board\u2019s (HDB) first chairman, has changed hands for $93.9 million, reported iCompareLoan. Located on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69548,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hougang-condo-sold-for-629m-in-collective-sale\/","url_meta":{"origin":86324,"position":1},"title":"Hougang condo sold for $629m in collective sale","date":"October 20, 2017","format":false,"excerpt":"\r The owners of Florence Regency are expected to receive between $1.84 million and $1.89 million from the sale. (Photo: JLL) The 336-unit Florence Regency development at Hougang Avenue 2 has been sold to Hong Kong-listed developer Logan Property for $629 million, marketing agent JLL said on Friday (20 October).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69564,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hougang-project-sold-for-629m-in-collective-sale\/","url_meta":{"origin":86324,"position":2},"title":"Hougang project sold for $629m in collective sale","date":"October 20, 2017","format":false,"excerpt":"\r The owners of Florence Regency are expected to receive between $1.84 million and $1.89 million from the sale. (Photo: JLL) The 336-unit Florence Regency development at Hougang Avenue 2 has been sold to Hong Kong-listed developer Logan Property for $629 million, marketing agent JLL said on Friday (20 October).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28793,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/raintree-gardens-sold-en-bloc-for-334-2m\/","url_meta":{"origin":86324,"position":3},"title":"Raintree Gardens sold en bloc for $334.2m","date":"October 6, 2016","format":false,"excerpt":"\r The sale price works out to a land cost of about $797 psf per plot ratio on the potential gross floor area. Source: JLL The 175-unit Raintree Gardens residential development at Potong Pasir has been sold collectively to UVD (Projects), a joint venture company of UOL Group and United\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38189,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-auction-sales-up-significantly-in-q4\/","url_meta":{"origin":86324,"position":4},"title":"Property auction sales up significantly in Q4","date":"December 15, 2016","format":false,"excerpt":"\r Q4 auction sales accounted for over half of total sales in 2016. (Photo: JLL) Property auction sales for the fourth quarter of 2016 exceeded expectations, with total sales at $47.2 million, or 51 percent of this year\u2019s tally, said property consultancy JLL. The figure is more than three times\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":86324,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86324"}],"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=86324"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86324\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=86324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=86324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=86324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}