{"id":86623,"date":"2018-04-27T10:42:44","date_gmt":"2018-04-27T03:42:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sale-fever-hits-lakeside-towers-jalan-besar-plaza\/"},"modified":"2018-04-27T16:02:57","modified_gmt":"2018-04-27T09:02:57","slug":"collective-sale-fever-hits-lakeside-towers-jalan-besar-plaza","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sale-fever-hits-lakeside-towers-jalan-besar-plaza\/","title":{"rendered":"Collective sale fever hits Lakeside Towers, Jalan Besar Plaza"},"content":{"rendered":"


\nThe owners of Jalan Besar Plaza are expecting $380 million if the sale goes through. This is the freehold development\u2019s fourth en bloc attempt.
\nLakeside Towers and Jalan Besar Plaza are the latest properties to be put up for en bloc sale, with the owners expecting $30.5 million and $380 million respectively, reported the Business Times.
\nOverlooking Jurong Lake Gardens, Lakeside Towers sits on a 153,237 sq ft site which is zoned residential under the 2014 Master Plan with an allowable gross plot ratio of 2.1. Marketing agent Huttons Asia said the 99-year leasehold site could yield about 321,797 sq ft of gross floor area once redeveloped.
\nMore: Developers\u2019 En Bloc Appetite Diminishing: RHB
\nIt noted that the price works out to a land rate of $1,125 psf per plot ratio (psf ppr), including the estimated $57 million for intensifying the land and topping up the lease to a fresh 99 years.
\n\u201cThe site offers an excellent redevelopment opportunity for developers, as it is strategically located within a high-growth area \u2013 Singapore\u2019s second Central Business District at Jurong Lake District,\u201d said Angela Lim, Huttons Asia\u2019s deputy head of investment sales.
\nLocated near several malls such as IMM and Jem, Lakeside Towers is also close to Nanyang Technological University and River Valley High School.
\nJalan Besar Plaza, on the other hand, is nestled on a 53,042 sq ft site which is zoned for commercial and residential use under the 2014 Master Plan.
\nHuttons, which is also the marketing agent for the property, noted that the guide price works out to \u201ca land rate of $2,115 psf ppr for 40 percent commercial use and 60 percent residential use on the approved GFA of 16,694 sq m (179,693 sq ft)\u201d. No development charge is payable.
\nThis is the freehold development\u2019s fourth en bloc attempt.
\nThe 16-storey building with a three-storey commercial podium features 111 commercial units and 44 apartment units. Located within the vicinity of Jalan Besar Stadium and Kallang Riverside Park, Jalan Besar Plaza is a short drive from the city centre.
\nThe tenders for Lakeside Towers and Jalan Besar Plaza will close on 28 May and 5 June respectively.
\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…Collective sale fever hits Lakeside Towers, Jalan Besar Plaza<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The owners of Jalan Besar Plaza are expecting $380 million if the sale goes through....<\/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-86623","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-mx9","jetpack-related-posts":[{"id":91726,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kemaman-point-in-district-12-sold-en-bloc-to-soilbuild-for-143-88m\/","url_meta":{"origin":86623,"position":0},"title":"Kemaman Point in District 12 sold en bloc to Soilbuild for $143.88m","date":"June 19, 2018","format":false,"excerpt":"\r The sale price of Kemaman Point works out to a land rate of about $1,173 psf ppr. (Photo: Knight Frank) Soilbuild Group has emerged victorious in the tender for the en bloc sale of Kemaman Point off\u00a0 Balestier Road in District 12, with a $143.88 million bid. Marketing agent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79270,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/city-towers-sold-en-bloc-for-401-9m\/","url_meta":{"origin":86623,"position":1},"title":"City Towers sold en bloc for $401.9m","date":"February 8, 2018","format":false,"excerpt":"\r The freehold development was sold to an undisclosed buyer for much higher than the owners\u2019 reserve price. (Photo: Colliers International) Singapore\u2019s collective sales fever shows no signs of abating with City Towers being the latest development to be successfully sold en bloc, reported the Business Times. Launched on 4\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":86623,"position":2},"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":87439,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-condominiums-attempt-en-bloc-sale\/","url_meta":{"origin":86623,"position":3},"title":"More condominiums attempt en bloc sale","date":"May 9, 2018","format":false,"excerpt":"\r Elias Green in Pasir Ris is expected to be launched for collective sale at a reserve price of $780 million. The 419-unit Elias Green condo in Pasir Ris is expected to be launched for collective sale by marketing agent PropNex Realty at a reserve price of $780 million, with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109476,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/watten-estate-condominium-up-for-en-bloc-sale-for-536m\/","url_meta":{"origin":86623,"position":4},"title":"Watten Estate Condominium up for en bloc sale for $536m","date":"July 30, 2019","format":false,"excerpt":"\r Located at Shelford Road, the condominium is nestled on a sprawling 220,234 sq ft site, which is zoned residential with a gross plot ratio of 1.4 and a total allowable gross floor area of 308,341 sq ft.\u00a0After factoring in the additional buyer\u2019s stamp duty, the development is \u201cattractively priced\u201d\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87349,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kemaman-point-up-for-en-bloc-sale-with-143-8m-reserve-price\/","url_meta":{"origin":86623,"position":5},"title":"Kemaman Point up for en bloc sale with $143.8m reserve price","date":"May 8, 2018","format":false,"excerpt":"\r Completed in 1993, the 89-unit Kemaman Point is located close to Novena MRT station. (Photo: Knight Frank) Kemaman Point, a freehold condominium off Balestier Road in District 12, was launched for collective sale on Monday (7 May) with a reserve price of $143.8 million, said marketing agent Knight Frank\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\/86623"}],"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=86623"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/86623\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=86623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=86623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=86623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}