{"id":87006,"date":"2018-05-03T09:52:24","date_gmt":"2018-05-03T02:52:24","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-properties-launched-for-en-bloc-sale\/"},"modified":"2018-05-03T10:03:32","modified_gmt":"2018-05-03T03:03:32","slug":"two-freehold-properties-launched-for-en-bloc-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-properties-launched-for-en-bloc-sale\/","title":{"rendered":"Two freehold properties launched for en bloc sale"},"content":{"rendered":"


\nHolland Tower in District 10 was put up for sale with a reserve price of $65 million. (Photo: SRI)
\nMore homeowners are trying their luck at collective sales, with two freehold developments launched at a combined price of $103 million.
\nThe Holland Tower condominium in District 10 was put up for sale on Wednesday (2 May) with a reserve price of $65 million, said marketing agent Singapore Realtors Inc (SRI).
\nMore: Developers\u2019 En Bloc Appetite Diminishing: RHB
\nLocated at a cul-de-sac in 10 Holland Heights, the development is close to commercial amenities at Holland Village and Dempsey Village.
\nZoned for good class bungalows, the 21,871 sq ft site could be redeveloped into its original use, subject to the relevant authorities\u2019 approval.
\nSRI said the reserve price works out to a land rate of $1,489 psf per plot ratio (psf ppr). Other en bloc sales in the vicinity this year include The Wilshire at $1,600 psf ppr, Hollandia ($1,703 psf ppr) and Olina Lodge ($1,712 psf ppr).
\nMeanwhile, marketing agent JLL revealed yesterday that nearly all owners of Margate Point in District 15 have given their nod for the first en bloc sale attempt of the 15-unit development.
\n\u201cMargate Point\u2019s minimum expected price of $38 million offers boutique developers and contractors an attractive and affordable redevelopment proposition, particularly if they have found themselves priced out of the market,\u201d said JLL senior consultant Karamjit Singh.
\nBesides its views over the Meyer Road and Goodman Road landed enclaves and the low-rise residential areas in Joo Chiat, another selling point is its proximity to an upcoming MRT station.
\nSituated off Meyer Road and Mountbatten Road, the 12,800 sq ft site has an allowable gross plot ratio (GPR) of 2.1. Subject to approval from the authorities, the site may be redeveloped into a condominium of up to 35 units with at an average size of 753 sq ft.
\n\u201cSubject to confirmation on the property\u2019s development baseline, Margate Point\u2019s reserve price translates to a land rate of approximately $1,417 psf ppr for a redevelopment up to GPR 2.1 \u2013 before any bonus gross floor area for balconies,\u201d noted Singh.
\n\u201cThere is a high chance of getting 100 percent consent from the owners towards this collective sale. At the moment, owners representing 14 out of 15 of the apartments have already inked their consent. Should the last consent be obtained, the owners can then bypass the Strata Titles Board application process and work towards legal completion taking place within three months of contract.\u201d
\nThe tender exercises for Holland Tower and Margate Point will close on 30 May and 6 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…Two freehold properties launched for en bloc sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Holland Tower in District 10 was put up for sale with a reserve price of...<\/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-87006","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-mDk","jetpack-related-posts":[{"id":86134,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-olina-lodge-sold-for-230-9m\/","url_meta":{"origin":87006,"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":83363,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/olina-lodge-verdun-house-launched-for-collective-sale\/","url_meta":{"origin":87006,"position":1},"title":"Olina Lodge, Verdun House launched for collective sale","date":"March 22, 2018","format":false,"excerpt":"\r Completed in 1990, the freehold Olina Lodge has a reserve price of $220 million. (Photo: SRI) The 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). Located at 15 Holland\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122555,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/holland-hill-lodge-up-for-en-bloc-sale-for-25-8mil\/","url_meta":{"origin":87006,"position":2},"title":"Holland Hill Lodge up for en bloc sale for $25.8mil","date":"October 13, 2021","format":false,"excerpt":"\r Located at 5 Holland Hill, the freehold project, Holland Hill Lodge, occupies a 9,033 sq ft site zoned for Residential use. Holland Hill Lodge, a freehold residential development at 5 Holland Hill, has been put up for en bloc sale via public tender, revealed exclusive marketing agent SRI Capital\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/Holland-Hill-Lodge-Photo.jpg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":81668,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hollandia-in-district-10-sold-for-183-38m\/","url_meta":{"origin":87006,"position":3},"title":"Hollandia in District 10 sold for $183.38m","date":"March 2, 2018","format":false,"excerpt":"\r The owners could receive gross sale proceeds ranging from $3.3 million to $4.2 million. (Photo: Savills Singapore) The 48-unit Hollandia development at the junction of Holland Road and Queensway has been sold through a collective sale to FEC Properties for $183.38 million, or a unit land rate of about\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103907,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spanish-village-goes-en-bloc-for-the-third-time\/","url_meta":{"origin":87006,"position":4},"title":"Spanish Village goes en bloc for the third time","date":"February 12, 2019","format":false,"excerpt":"\r The residential property has been relaunched for en bloc sale with the guide price unchanged at $882 million. (Photo: ET&Co) Spanish Village, a 226-unit residential development along Farrer Road, has been relaunched for en bloc sale with the guide price unchanged at $882 million, said marketing agent Edmund Tie\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90394,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spanish-village-in-district-10-up-for-sale-at-882m\/","url_meta":{"origin":87006,"position":5},"title":"Spanish Village in District 10 up for sale at $882m","date":"June 4, 2018","format":false,"excerpt":"\r The 331,457 sq ft site is located near Farrer Road MRT station, Holland Village and Dempsey Hill. (Photo: ET&Co) Spanish Village, a freehold residential project along Farrer Road in District 10, has been put up for collective sale at $882 million, revealed marketing agent Edmund Tie & Company (ET&Co).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/img.youtube.com\/vi\/eOnlX2DIfU8\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/87006"}],"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=87006"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/87006\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=87006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=87006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=87006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}