{"id":98050,"date":"2018-09-18T11:02:35","date_gmt":"2018-09-18T04:02:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-condos-in-district-9-up-for-en-bloc-sale-again\/"},"modified":"2018-09-18T11:03:16","modified_gmt":"2018-09-18T04:03:16","slug":"two-freehold-condos-in-district-9-up-for-en-bloc-sale-again","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-condos-in-district-9-up-for-en-bloc-sale-again\/","title":{"rendered":"Two freehold condos in District 9 up for en bloc sale again"},"content":{"rendered":"


\nLocated near Orchard Road, Grange Heights is making a second attempt at a collective sale. (Photo: Colliers International)
\nUndeterred by the government\u2019s property cooling measures, two freehold condos in District 9 near the Orchard Road shopping district are making another try at an en bloc sale.
\nGrange Heights along St. Thomas Walk is being offered for sale for $820 million, while Cairnhill Astoria in Cairnhill Rise is priced at $196 million, revealed Colliers International.
\nMore: Developers\u2019 En Bloc Appetite Diminishing: RHB
\nAfter factoring in the 10 percent bonus balcony gross floor area (GFA), the reserve price for Grange Heights translates to a land rate of $1,948 psf per plot ratio (psf ppr). No development charge is payable for the approximately 136,676 sq ft site.
\nThis is the second attempt by the owners of Grange Heights at a collective sale.
\nDepending on the size of their property, each owner stands to receive between $2.35 million and $10.762 million from the development\u2019s successful sale.
\nFor Cairnhill Rise, the $196 million reserve price \u2013 which was unchanged from its original tender price when it entered the market on 17 May \u2013 works out to a land rate of $1,933 psf ppr, after taking into account the 10 percent bonus balcony area and a development charge of about $33.903 million.
\nIf the sale proves to be a success, each owner could receive between $2.275 million and $14.261 million, depending on the size of their property.
\nColliers noted that Grange Heights could be redeveloped to yield 388 new units averaging 1,033 sq ft each, while Cairnhill Astoria could offer about 150 new units averaging 753 sq ft, subject to the approval of relevant authorities.
\n\u201cThe development is ageing and the owners are keen to sell the property,\u201d said Paul Kwek, vice-chairman of the Cairnhill Astoria collective sale committee.
\n\u201cWe understand that the environment has become a lot more uncertain following the introduction of new cooling measures in July. The owners are mindful of the cautious market sentiment and may be more realistic in their pricing expectation.\u201d
\nThe tender exercises for Cairnhill Astoria and Grange Heights will close on 17 October and 29 October respectively.
\nMore:\u00a0Understanding The En Bloc Process (August 2018)
\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 condos in District 9 up for en bloc sale again<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Located near Orchard Road, Grange Heights is making a second attempt at a collective sale....<\/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-98050","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-pvs","jetpack-related-posts":[{"id":103222,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/grange-heights-relaunched-at-the-same-price\/","url_meta":{"origin":98050,"position":0},"title":"Grange Heights relaunched at the same price","date":"January 23, 2019","format":false,"excerpt":"\r The freehold development is located near Orchard Road and Somerset MRT station. (Photo: Colliers International) Homeowners at Grange Heights have decided to relaunch the collective sale tender for the freehold development along St. Thomas Walk despite the softer market. The reserve price remains unchanged from its second tender exercise\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74414,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cairnhill-heights-eyes-80mil-in-collective-sale-tender\/","url_meta":{"origin":98050,"position":1},"title":"Cairnhill Heights eyes $80mil in collective sale tender","date":"December 13, 2017","format":false,"excerpt":"\r Cairnhill Heights, a 19-unit residential development at Cairnhill Rise, is set to be launched for en bloc sale tender on 19 December, reported Business Times. This comes after over 90 percent of the owners have agreed to the sale. The owners are looking at a sale price of more\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88551,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/8-more-properties-launched-for-en-bloc-sale\/","url_meta":{"origin":98050,"position":2},"title":"8 more properties launched for en bloc sale","date":"May 17, 2018","format":false,"excerpt":"\r Cairnhill Astoria (the red building) in prime District 9 has joined a growing list of properties launched for en bloc sale. (Photo: Colliers International) Singapore\u2019s red-hot collective sales market continues to sizzle with more homeowners jumping on the en bloc bandwagon. Cairnhill Astoria in Cairnhill Rise and Trendale Tower\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90937,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-acquires-more-land-in-cairnhill-eyes-bigger-redevelopment-site\/","url_meta":{"origin":98050,"position":3},"title":"Developer acquires more land in Cairnhill, eyes bigger redevelopment site","date":"June 8, 2018","format":false,"excerpt":"\r Singapore-listed Low Keng Huat previously signed a collective sales agreement to buy Cairnhill Mansions along Cairnhill Road in District 9 for $362 million. (Photo: CBRE) Glopeak Development, a unit of Singapore-listed property developer Low Keng Huat, has agreed to purchase several pieces of freehold residential land adjacent to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69974,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-prime-freehold-sites-up-for-sale-for-a-total-of-477m\/","url_meta":{"origin":98050,"position":4},"title":"Two prime freehold sites up for sale for a total of $477m","date":"October 25, 2017","format":false,"excerpt":"\r Aerial view of 67 Cairnhill Road and Cairnhill Mansions. (Photo: CBRE)\u00a0 Two prime freehold sites in District 9 that are among the few remaining sizeable plots available in Cairnhill Road have been launched for sale by exclusive marketing agent CBRE on Tuesday (24 October). These comprise a 19,800 sq\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-condos-up-for-en-bloc-sale\/","url_meta":{"origin":98050,"position":5},"title":"Four condos up for en bloc sale","date":"November 16, 2017","format":false,"excerpt":"\r Derby Court is a freehold condominium development located at 5, Derbyshire Road in District 11 near Novena MRT station. (Photo: JLL) Four residential developments, including the iconic Pearlbank Apartments in Outram, have been put up in separate tenders for en bloc sale. The others are Parkway Mansion in Katong,\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\/98050"}],"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=98050"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/98050\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=98050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=98050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=98050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}