{"id":88626,"date":"2018-05-18T09:31:32","date_gmt":"2018-05-18T02:31:32","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/chancery-court-in-district-11-sold-en-bloc-for-401-8m\/"},"modified":"2018-05-18T10:02:50","modified_gmt":"2018-05-18T03:02:50","slug":"chancery-court-in-district-11-sold-en-bloc-for-401-8m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chancery-court-in-district-11-sold-en-bloc-for-401-8m\/","title":{"rendered":"Chancery Court in District 11 sold en bloc for $401.8m"},"content":{"rendered":"


\nThe purchase price works out to a land rate of about $1,610 psf per plot ratio. (Photo: OrangeTee Advisory)
\nChancery Court, a privatised HUDC estate right across the road from the Anglo Chinese School campus, has been sold en bloc for $401.78 million, or six percent higher than its reserve price of $390 million, revealed marketing agent OrangeTee Advisory on Thursday (17 May).
\nThe purchase price works out to a land rate of about $1,610 psf per plot ratio, after taking into account a differential premium and lease upgrading premium of around $182.4 million to redevelop the site to a gross plot ratio of 1.4, based on the maximum permissible gross floor area of 362,788 sq ft, and to top up the lease to a fresh 99 years.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nWith a site area of approximately 259,134 sq ft, Chancery Court comprises a 16-storey tower block and seven blocks of four-storey walk-up maisonettes.
\nIt is located in prime District 11 near Newton MRT interchange, and is also close to various schools such as St Joseph\u2019s Institution Junior and Singapore Chinese Girls\u2019 Primary School.
\nOrangeTee Advisory noted that the 136 residential and eight commercial unit owners stand to receive gross sale proceeds of about $1.8 million to $3.5 million and $934,000 to $4.7 million respectively.
\n\u201cA pre-application feasibility study on traffic impact was commissioned by us and it has provided certainty to developers during the bidding process,\u201d it said.
\nThe site can be redeveloped into a five-storey condominium with a maximum of 481 units, based on an average size of 753 sq ft, subject to relevant authorities\u2019 approval.
\n\u201cThe recent collective sale sites sold along Bukit Timah Road, Dunearn Road and Balmoral Road have exhibited developers\u2019 confidence in the locality and the rarity would enhance its desirability to the end users and investors. We are certain that the redevelopment of Chancery Court will value add to the impending rejuvenation of the area,\u201d added OrangeTee Advisory.
\nLearn more about the Novena\/Newton area and search for properties to buy or rent.
\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…Chancery Court in District 11 sold en bloc for 1.8m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The purchase price works out to a land rate of about $1,610 psf per plot...<\/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-88626","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-n3s","jetpack-related-posts":[{"id":89997,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propertyguru-news-roundup-may-2018\/","url_meta":{"origin":88626,"position":0},"title":"PropertyGuru News Roundup (May 2018)","date":"May 31, 2018","format":false,"excerpt":"\r Our top Singapore property stories. Chancery Court In District 11 Sold En Bloc For $401.8m Chancery Court, a privatised HUDC estate right across the road from the Anglo Chinese School campus, has been sold en bloc for $401.78 million, or six percent higher than its reserve price of $390\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/05\/Singapore-property.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":84376,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chancery-court-put-up-for-collective-sale-at-390m\/","url_meta":{"origin":88626,"position":1},"title":"Chancery Court put up for collective sale at $390m","date":"April 2, 2018","format":false,"excerpt":"\r The asking price works out to a land rate of $1,572 psf per plot ratio. (Photo: OrangeTee Advisory) Chancery Court, a privatised HUDC estate along Dunearn Road, has been launched for collective sale at an asking price of $390 million, or a land rate of $1,572 psf per plot\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121263,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/siglap-shopping-centre-relaunched-for-en-bloc-sale-price-unchanged-at-120mil\/","url_meta":{"origin":88626,"position":2},"title":"Siglap Shopping Centre relaunched for en bloc sale, price unchanged at $120mil","date":"August 5, 2021","format":false,"excerpt":"\r Siglap Shopping Centre relaunched for en bloc sale, price unchanged at $120milThe site could be developed into a \u201cprominent\u00a0mixed-use development\u00a0that caters to the lifestyles of residents in the vicinity. Photo: OrangeTee Advisory Siglap Shopping Centre along East Coast Road has been relaunched for collective sale via public tender with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/Siglap-Shopping-Centre-crop.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":123140,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/thomson-view-up-for-en-bloc-sale-for-950mil\/","url_meta":{"origin":88626,"position":3},"title":"Thomson View up for en bloc sale for $950mil","date":"November 10, 2021","format":false,"excerpt":"\r Thomson View Condominium is a 50,197 sq m site with a reserve price of $950 million. Source: Google Maps The owners of Thomson View Condominium have once again put up the 99-year leasehold development for collective sale, with a reserve price of $950 million, reported The Business Times (BT),\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/thomson-view.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":100496,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-mansion-relaunched-for-collective-sale-at-lower-price\/","url_meta":{"origin":88626,"position":4},"title":"Gilstead Mansion relaunched for collective sale at lower price","date":"October 25, 2018","format":false,"excerpt":"\r The 24-unit residential development has been relaunched for collective sale at a guide price of $65 million. (Photo: Teakhwa Real Estate) In a bid to beat the clock before the new rules on unit sizes outside the central area kick in as well as the chill of property cooling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89989,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-mansion-in-district-11-up-for-sale-for-at-least-68m\/","url_meta":{"origin":88626,"position":5},"title":"Gilstead Mansion in District 11 up for sale for at least $68m","date":"May 31, 2018","format":false,"excerpt":"\r The freehold project sits on a 35,751 sq ft site and is close to the Newton, Novena and Little India MRT stations. (Photo: Teakhwa Real Estate) Gilstead Mansion, a 24-unit freehold condominium in District 11, has been launched for collective sale via public tender, with the owners hoping to\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\/88626"}],"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=88626"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/88626\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=88626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=88626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=88626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}