{"id":91726,"date":"2018-06-19T10:05:46","date_gmt":"2018-06-19T03:05:46","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/kemaman-point-in-district-12-sold-en-bloc-to-soilbuild-for-143-88m\/"},"modified":"2018-06-19T11:03:48","modified_gmt":"2018-06-19T04:03:48","slug":"kemaman-point-in-district-12-sold-en-bloc-to-soilbuild-for-143-88m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kemaman-point-in-district-12-sold-en-bloc-to-soilbuild-for-143-88m\/","title":{"rendered":"Kemaman Point in District 12 sold en bloc to Soilbuild for $143.88m"},"content":{"rendered":"


\nThe sale price of Kemaman Point works out to a land rate of about $1,173 psf ppr. (Photo: Knight Frank)
\nSoilbuild 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.
\nMarketing agent Knight Frank noted that the sale price to redevelop the site to a gross plot ratio of 2.8 based on the maximum permissible gross floor area of approximately 122,711 sq ft works out to a land rate of about $1,173 psf per plot ratio (psf ppr).
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nInclusive of the 10 percent bonus balcony space and a proposed plot ratio of 3.08, the land rate works out to a lower $1,111 psf ppr, inclusive of a $6.1 million development charge.
\nWith this, each owner stands to receive gross sale proceeds of between $1.4 million and $2.32 million. Knight Frank revealed that the sale of Kemaman Point is subject to several conditions, including an order of sale by the Strata Titles Board or High Court.
\nWith a site area of about 43,825 sq ft, the project comprises one residential block of 89 apartments measuring between 850 sq ft and 1,711 sq ft.
\n\u201cThe new high-rise development will enjoy unobstructed views towards Jalan Kemaman, over low-rise landed houses,\u201d said Ian Loh,\u00a0Knight Frank\u2019s executive director and head of investment and capital markets.
\n\u201cWe believe the new development will be sought after given the recent rejuvenation of the Balestier area, as well as the limited supply in the vicinity.\u201d
\nMeanwhile, Peter Mao, the collective sale committee chairman of Kemaman Point, is looking forward to garnering 100 percent consensus \u201cto quicken the process for owners to proceed with their next home purchase\u201d.
\nLearn more about the Balestier\/Toa Payoh area and search for\u00a0properties 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…Kemaman Point in District 12 sold en bloc to Soilbuild for 3.88m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The sale price of Kemaman Point works out to a land rate of about $1,173...<\/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-91726","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-nRs","jetpack-related-posts":[{"id":94037,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-condos-launched-for-en-bloc-sale\/","url_meta":{"origin":91726,"position":0},"title":"Two freehold condos launched for en bloc sale","date":"July 17, 2018","format":false,"excerpt":"\r Two freehold condominiums in Singapore\u2019s central area have been launched for collective sale despite the new property cooling measures, reported the Business Times. The 24-unit Summer Green in Balestier Road is up for grabs at a reserve price of $48 million, which works to around $1,178 psf per plot\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":91726,"position":1},"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":[]},{"id":86132,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dunearn-gardens-sold-to-el-development-for-468m\/","url_meta":{"origin":91726,"position":2},"title":"Dunearn Gardens sold to EL Development for $468m","date":"April 23, 2018","format":false,"excerpt":"\r The purchase price is lower than the reserve price of $488.8 million. (Photo: Knight Frank) Dunearn Gardens, a freehold condominium located off Newton Road, has been sold collectively to a wholly-owned subsidiary of EL Development for $468 million following its third en bloc attempt, marketing agent Knight Frank said\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":91726,"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":78745,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vicenta-lodge-to-go-en-bloc-for-33-6m\/","url_meta":{"origin":91726,"position":4},"title":"Vicenta Lodge to go en bloc for $33.6m","date":"February 2, 2018","format":false,"excerpt":"\r Built in 1993, the freehold site is located near Kembangan MRT station. (Photo: Century 21) Vicenta Lodge, a freehold residential development in Lorong Marzuki, will be put up for en bloc sale tomorrow (3 February) with a guide price of $33.6 million. This works out to a land rate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mayfair-gardens-up-for-en-bloc-sale-at-265m\/","url_meta":{"origin":91726,"position":5},"title":"Mayfair Gardens up for en bloc sale at $265m","date":"October 23, 2017","format":false,"excerpt":"\r The asking price works out to a land rate of around $1,058 psf per plot ratio. (Photo: Knight Frank) Mayfair Gardens off Dunearn Road has been launched for collective sale, with the owners expecting offers above the reserve price of $265 million, according to marketing agent Knight Frank. Built\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\/91726"}],"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=91726"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/91726\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=91726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=91726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=91726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}