{"id":91372,"date":"2018-06-14T10:19:49","date_gmt":"2018-06-14T03:19:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-house-in-district-10-sold-for-record-2910-psf-ppr\/"},"modified":"2018-06-14T11:03:11","modified_gmt":"2018-06-14T04:03:11","slug":"park-house-in-district-10-sold-for-record-2910-psf-ppr","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-house-in-district-10-sold-for-record-2910-psf-ppr\/","title":{"rendered":"Park House in District 10 sold for record $2,910 psf ppr"},"content":{"rendered":"


\nThe freehold development along Orchard Boulevard was sold to a unit of Hong Kong-listed Shun Tak Holdings for $375.5 million. (Photo: CBRE)
\nPark House, a freehold 60-unit development along Orchard Boulevard in District 10 has been sold for $375.5 million, which works out to a record $2,910 psf per plot ratio (psf ppr), revealed marketing agent CBRE on Wednesday (13 May).
\nSetting a new price benchmark in Singapore, this exceeds the previous peak price of $2,526 psf ppr that Hong Kong\u2019s Swire Properties paid for the Hampton Court en bloc sale site in 2013.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nThe public tender for Park House was awarded on 1 June to Shun Tak Cuscaden Residential, a fully owned subsidiary of Hong Kong-listed Shun Tak Holdings.
\nThe 46,084 sq ft site is zoned residential with a plot ratio of 2.8 under the 2014 Master Plan. Shun Tak Holdings plans to redevelop the site into a luxury residential project which it expects to complete by 2023.
\nCBRE noted that each of the 56 apartment and four shop unit owners stand to receive gross sale proceeds of around $6.1 million and $8.1 million respectively.
\n\u201cThe response from local and foreign developers was overwhelming; we conducted more than 20 site inspections with developers from Hong Kong, Malaysia, Singapore, China and Indonesia,\u201d said CBRE managing director of capital markets Jeremy Lake.
\n\u201cAll of them immediately recognised the positive attributes of Park House including its very prominent yet exclusive location on Orchard Boulevard, the accessibility to the Orchard Road shopping belt and the short walking distance to Orchard Boulevard MRT when it is completed in 2021.\u201d
\nMeanwhile, Lakeside Apartments in the Jurong Lake District has been put up for en bloc sale carrying a reserve price of $240 million, reported the Business Times.
\nAn enhancement premium of $55.56 million will have to be paid for both the lease top-up premium and land use intensification of the site.
\nWith 59 years left on its 99-year lease, the 134,176 sq ft site is zoned residential with a plot ratio of 2.1. The 120-unit development comprises two 15-storey tower blocks.
\nThe tender for Lakeside Apartments closes on 24 July.
\nHome 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…Park House in District 10 sold for record ,910 psf ppr<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The freehold development along Orchard Boulevard was sold to a unit of Hong Kong-listed Shun...<\/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-91372","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-nLK","jetpack-related-posts":[{"id":91630,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/orchard-home-prices-may-breach-4000-psf-mark\/","url_meta":{"origin":91372,"position":0},"title":"Orchard home prices may breach $4,000 psf mark","date":"June 18, 2018","format":false,"excerpt":"\r Aggressive bidding seen for prime sites within the Orchard Road area. DBS Group Research expects home prices in Orchard Road to reach or even surpass the $4,000 psf mark, given the aggressive bidding for prime sites within the area, reported Singapore Business Review. Hong Kong-listed Shun Tak Holdings, for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93260,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-up-for-en-bloc-sale-for-1-1b\/","url_meta":{"origin":91372,"position":1},"title":"Horizon Towers up for en bloc sale for $1.1b","date":"July 6, 2018","format":false,"excerpt":"\r The reserve price works out to a land rate of $1,964 psf per plot ratio. (Photo: JLL) Horizon Towers, a 211-unit residential development at Leonie Hill in District 9, has been launched for collective sale with a reserve price of $1.1 billion. Including the lease top-up premium of about\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102760,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-highpoint-goes-en-bloc-for-550m\/","url_meta":{"origin":91372,"position":2},"title":"Freehold condo HighPoint goes en bloc for $550m","date":"January 8, 2019","format":false,"excerpt":"\r The asking price works out to $2,595 psf ppr before factoring in balconies. (Photo: CBRE) HighPoint, a freehold residential development at the highest point of the Mount Elizabeth-Orchard district, has been launched for en bloc sale with a guide price of $550 million, revealed marketing agent CBRE. The price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86312,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-house-st-michaels-condo-join-en-bloc-bandwagon\/","url_meta":{"origin":91372,"position":3},"title":"Park House, St Michael\u2019s Condo join en bloc bandwagon","date":"April 24, 2018","format":false,"excerpt":"\r Located near Orchard Road, Park House carries a guide price of $308 million. (Photo: CBRE) The en bloc fever shows no sign of abating with Park House and St Michael\u2019s Condominium joining the bandwagon. Located at the junction of Orchard Boulevard and Tomlinson Road, Park House carries a guide\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95635,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-the-regalia-up-for-collective-sale-at-403m\/","url_meta":{"origin":91372,"position":4},"title":"Freehold condo The Regalia up for collective sale at $403m","date":"August 8, 2018","format":false,"excerpt":"\r Aerial view of The Regalia condominium at River Valley Close. (Photo: CBRE) The Regalia, a freehold condo in District 9, has been put up for en bloc sale with a guide price of $403 million. The price works out to a land rate of $1,892 psf per plot ratio\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95549,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-st-thomas-ville-up-for-en-bloc-sale\/","url_meta":{"origin":91372,"position":5},"title":"Freehold condo St Thomas Ville up for en bloc sale","date":"August 7, 2018","format":false,"excerpt":"\r St Thomas Ville is located close to Orchard Road and the upcoming Great World MRT station. (Photo: JLL) St Thomas Ville, a 23-unit residential development in District 9, has been put up for sale, with the owners expecting bids in excess of $58 million, revealed marketing agent JLL. Located\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\/91372"}],"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=91372"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/91372\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=91372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=91372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=91372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}