当前集体出售中的项目列表及它们成功的可能性

当前集体出售中的项目列表及它们成功的可能性

新加坡(EDGEPROP)- 公寓的集体出售被许多业主视为意外之财,一些房地产投资者有意寻找具有集体出售潜力的房产。 在本文中,我们将研究影响集体出售市场的因素。 我们还将探讨成功售出的集体出售公寓的可能性和可能为集体出售推出的住宅项目。

希望从集体出售中获得意外收获的投资者需要耐心,因为整个过程可能需要长达两年的时间,而且无法保证一定会成功。 此外,当前的市场情绪受到经济前景疲软和政府法规变化的打击。

如果私宅业主出售他们的房产,他们必须等待15个月才能购买非补贴的转售组屋单位。只有55岁及以上的业主,购买四房或更小的组屋,才可免于这项规定。(使用我们的新加坡组屋目录查找出租或出售的组屋)

由于去年 9 月作为降温措施的一部分实施的规定,55 岁以下的自住业主如果需要立即住房,将被迫购买另一个公寓单位作为替代房屋。 公寓单位的高置换成本,加上抵押贷款利率上升,可能会阻止一些年轻的自住业主将他们的公寓单位集体出售。

选择购买转售组屋的自住业主将不得不租用临时房屋以等待 15 个月的期限。 近年来,有限的供应和强劲的需求推高了房屋租金。 新加坡公寓的平均住房租金从 2021 年的每月每平方英尺 4.04 新元飙升至目前的每月每平方英尺 4.83 新元。 高昂的租金将使一些自住业主不愿同意集体出售。 投资者可能也不愿意放弃其强劲的租金收入来源。

 

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2021年12月,开发商的额外买方印花税(ABSD)的可减免部分从25%提高到35%。只有当开发商能够在五年内完成并出售其项目中的所有单位时,ABSD才会被减免。因此,开发风险已经增加,导致开发商在选址方面变得更加严格。

位于上东海岸路(Upper East Coast Road)的Bagnall Court的集体出售招标已于去年结束。今年1月,这个拥有43个单位的项目通过私人协议出售给由Roxy-Pacific Holdings领导的财团,售价为1.1528亿新元(每平方尺1106新元)。计划在这块永久地契的土地上建造一座五层高的公寓,共有113个单位。

 

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位于 Meyer Road 沿线的 60 个单位的 Meyer Park 在 2 月以 3.9218 亿新元(每容积率每平方英尺 1,668 新元)的价格卖给了 UOL 和 Singland。 该永久地契地块将被重新开发成拥有 230 至 250 个单位的豪华公寓。 

 

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位于荷兰高地(Holland Heights)沿线的19个单位的永久地契荷兰大厦(Holland Tower)在3月以7630万新元(每地块比率为1746新元/平方英尺)出售给Wing Tai Holdings的全资子公司。

 

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SRI资本市场的管理合伙人Low Choon Sin认为:“合理和现实的土地定价将是决定一个集体出售项目是否成功的关键因素之一。在私人集体出售市场和政府的GLS土地上有大量的选择,因此开发商不太可能急于获得价格过高的土地。"

除了价格,Bagnall Court、Meyer Park和Holland Tower的永久产权和小规模也是其成功的原因。此外,Bagnall Court位于Bayshore地区,政府计划对该地区进行改造,而Meyer Park则位于附近的成熟住宅区。荷兰大厦位于第10区的黄金地段,这无疑有助于其成功销售。

莱坊新加坡(Knight Frank Singapore)(土地和集体出售)主管Chia Mein Mein表示:”潜在的集体出售地点必须拥有吸引人的房产属性,如位于受欢迎的社区,靠近地铁站和无遮挡风景。如果它位于现有的住宅区内,那么新项目可以吸引住在该地区的升级者。现有住宅项目的地皮规模和其绝对成本是进一步的考虑因素。"

 

在撰写本文时,有五个公寓的集体出售将在今年晚些时候结束。在这五个项目中,只有Horizon Tower位于黄金区,但Lakeside Tower位于新兴的裕廊湖区(Jurong Lake District)。此外,其中三个楼盘是永久地契,但所有五个项目的房龄都超过了20年。

 

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Lakeside Tower有很高的机会成功集体出售,因为它位于裕廊湖区,该区将成为新加坡的第二个CBD。此外,裕廊区域线(Jurong Region Line)在2029年全面建成后,将大大改善西部地区的交通状况。

 

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Lakeside Tower的缺点是其99年的地契,但两个非永久地契邻居 - Lakeside Apartments和Park View Mansions的成功集体出售表明,地契可能不会成为该地区房产的障碍。Lakeside Tower的主要缺点是来自500米范围内两个将到来的新项目的潜在竞争。

去年5月,附近的Lakeside Apartments以2.7388亿新元(每平方英尺1250至1260新元)的价格集体出售给Wing Tai Holdings,后者计划建造一个拥有300多个单位的住宅项目。

Park View Mansions 是附近的另一个项目,于去年 8 月通过整体出售。 一家由 CEL Development、Sing-Haiyi Pearl 和 TK 189 Development 组成的合资企业以 2.6 亿新元(每平方英尺 1,023 新元)的价格抢购了该地块,并计划建造一个多达 440 个单位的住宅项目。


 

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Park View Mansions 去年以 2.6 亿新元的价格集体出售。  (图片:Albert Chua/EdgeProp Singapore)

 

永久地契Hong Heng Mansions 是另一个预计会吸引开发商兴趣的项目,因为它靠近 Springleaf 地铁站 (TEL)。 此外,在政府土地销售 (GLS) 计划下出售的附近 Lentor 地铁站 (TEL) 周围的几个地块后,人们对该社区的兴趣越来越大。 此外,将项目在已售出的 GLS 地皮之一上的 Lentor Modern 在发售期间售出了 80% 的单位

 

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永久地契的Hong Heng Mansions正在进行集体出售,底价为1.33亿新元。(图片: ERA)

 

根据 EdgeProp Singapore 正在进行的在线调查反馈表明,由于住房需求持续强劲,在不久的将来可能会有更多公寓寻求集体出售。

 

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集体出售项目必须在获得最少数量的业主同意集体出售的签名后 12 个月内找到感兴趣的买家。 如果在时间范围内没有找到有兴趣的买家,整个过程将重新开始,并且必须再次获得业主的同意签名。 因此,一些今年在集体出售尝试中失败的公寓可能会利用 12 个月的时间框架再次尝试。(使用集体出售计算器查看可能进行集体出售的公寓项目)

下表中的公寓在今年早些时候进行了集体出售招标,但没有任何宣布成功出售。如果之前的尝试不成功,这些项目可能会再次进行集体出售招标。

 

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面对疲软的经济基本面和日益增长的房地产价格的阻力,预计谨慎将成为开发商的普遍情绪。

Edmund Tie 的投资咨询主管 Swee Shou Fern 表示:“开发商将继续保持谨慎,不会出价过高,以履行在五年内完成建设和出售新项目中所有单位的承诺,从而减轻 ABSD 的影响 (征地成本的 35%),同时根据建筑面积定义的变化和更高的买方印花税进行调整。”

供应增加导致住宅物业价格增长放缓,这可能会鼓励更多业主降低要价以避免错失集体出售机会。 因此,随着业主和开发商之间的价差缩小,成功的集体出售可能会更多。

 

查看附近的最新房源 Horizon TowersLakeside TowerHong Heng MansionsRoselane CourtKingsley MansionsMeyer ParkSpringleaf MRT StationLentor MRT Station

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List of current en bloc developments and their likelihood of success

List of current en bloc developments and their likelihood of success

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Roselane Court in Tanjong Katong launched for sale by tender at $23 mil

Roselane Court in Tanjong Katong launched for sale by tender at $23 mil

SINGAPORE (EDGEPROP) - Roselane Court, a freehold residential development along Rose Lane off Tanjong Katong Road in District 15, has been launched for sale by tender with a guide price of $23 million. The guide price translates to a land rate of about $1,375 psf per plot ratio (psf ppr) after factoring in a nominal land betterment charge, according to Knight Frank, who is marketing the property.

Roselane Court was completed in 2002 and has seven units. The property sits on a land area of 12,054 sq ft zoned for residential use with a gross plot ratio of 1.4. A new development on the site could have an estimated 18 units with an average size of 85 sqm (915 sq ft), subject to layout and configuration as well as approval from the relevant authorities.

Chia Mein Mein, Knight Frank’s head of capital markets (land and collective sale), notes that residential sites in the eastern part of Singapore remain popular among developers. Roselane Court is located close to the two freehold development land parcels at Thiam Siew Avenue which were sold for $815 million to a joint venture between Hoi Hup Realty and Sunway Developments in November 2021, at a land rate of $1,488 psf ppr. Meanwhile, two Government Land Sale sites at nearby Dunman Road and Jalan Tembusu were awarded last year at land rates of $1,350 psf ppr and $1,302 psf ppr respectively.

Roselane Court landlens - EDGEPROP SINGAPORE

Roselane Court is close to two sites at Thiam Siew Avenue (seen in orange) and the GLS site at Dunman Road which was awarded to SingHaiyi Group last year.

 

Elsewhere, Bagnall Court, a freehold condominium on Upper East Coast Road, was sold to a consortium led by Roxy-Pacific Holdings in January for $115.28 million at a land rate of $1,106 psf ppr. Last month, a joint venture between UOL Group and Singapore Land Group was awarded the collective sale tender for Meyer Park, a residential site along Meyer Road, for $392.18 million or a land rate of $1,668 psf ppr.

Chia points out that new project launches in the east have also seen a robust response. Sceneca Residence, MCC Land’s 99-year leasehold development along Tanah Merah Kechil Link, has seen nearly 60% of units taken up since its launch in mid-January with an average price of close to $2,100 psf. Liv@MB, the 99-year leasehold development by Bukit Sembawang Estates on Arthur Road, has achieved a take-up of about 86% with an average price of $2,412 psf since it launched last May, based on caveats lodged.

“This is a clear reflection of the strong market demand for properties in the eastern part of Singapore, given the healthy, take up for new project launches in this area,” comments Chia.

Don't miss out to check out the hottest new launch condo and new landed property in Singapore

According to Knight Frank, owners of the units at Roselane Court, which range from 624 to 1,851 sq ft, stand to receive minimum sale proceeds of approximately $1.9 million to S$4 million from the successful sale of the development. 

Roselane Court is a 10-minute walk to the Dakota MRT Station. Schools within a 1km radius include Kong Hwa School, Tanjong Katong Primary School, and Haig Girls’ School.

The tender for Roselane Court will close on Apr 5 at 3pm.

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Kingsley Mansion in Balestier up for sale at $52 mil

Kingsley Mansion in Balestier up for sale at $52 mil

SINGAPORE (EDGEPROP) - Kingsley Mansion, a freehold residential site at 27 Boon Teck Road, off Balestier Road in District 12, is up for collective sale by public tender with a guide price of $52 million. 

Kingsley Mansion landlens - EDGEPROP SINGAPORE
Map and overview of Kingsley Mansion (Source: EdgeProp LandLens)

 

According to marketing agent CBRE, this works out to a land rate of about $1,294 psf per plot ratio (psf ppr). As the site has a high development baseline, no land betterment charge (LBC) is payable to redevelop the site. 

Factoring in the 7% bonus gross floor area for balconies and an estimated LBC payable of $1.786 million, the land rate lowers to $1,251 psf ppr.

Owners of Kingsley Mansion had previously made a collective sale attempt in 2018, when it was put on the market for $45.5 million.

Kingsley Mansion - EDGEPROP SINGAPORE
Kingsley Mansion (Picture: CBRE)

 

Kingsley Mansion is an 18-unit, 10-storey development that was completed in the late 1980s. It has a land area of 14,350 sq ft zoned for residential use with a gross plot ratio of 2.8. The property has a frontage of about 30m along Boon Teck Road, with a depth of about 45m.

Michael Tay, CBRE’s head of capital markets, Singapore, says the launch of Kingsley Mansion is “extremely timely”, adding that well-located residential redevelopment sites at a palatable investment quantum of under $100 million for sale are rare to come by. “As such, we expect Kingsley Mansion to garner strong interest from developers who are looking to replenish their land banks,” he remarks. The Kingsley Mansion site can potentially be redeveloped into a high-rise residential block with up to 37 units.

Tay further points out that the tight supply of new homes in the area should support strong buyer interest. The last new launch in Balestier, the 162-unit Verticus which launched in February 2020, was fully sold last year at an average price of $2,087 psf. 

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Kingsley Mansion landlens - EDGEPROP SINGAPORE
The most recent launch in the vicinity is Verticus, which is a redevelopment of Kemaman Point which was purchased en bloc by Soilbuild Group in 2018 for $143.88 million (Source: EdgeProp LandLens)

 

Kingsley Mansion is a five-minute walk to Zhongshan Mall and Shaw Plaza, with the latter expected to reopen in the near-term following its closure for refurbishment works in 2019. Meanwhile, the development is also close to a number of schools, with CHIJ Primary (Toa Payoh) and Hong Wen School located within 1km.

The tender exercise for Kingsley Mansion will close on April 12 at 3pm.

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Hiap Hoe's Orchard Towers en bloc sale fails

Hiap Hoe's Orchard Towers en bloc sale fails

SINGAPORE (EDGEPROP) - Hiap Hoe announced on Feb 20 that the collective sale of Orchard Towers has fallen through as the collective sale committee did not obtain the required 80% threshold for the collective sale to proceed. 

Read also: Cleaning up Orchard Towers, one strata unit at a time

Hiap Hoe’s subsidiary Golden Bay Realty is the registered proprietor that holds 59 strata lots at Orchard Towers. Of these, 21 are shops and 38 are offices.  The group acquired the 59 strata lots in November 2017 for $162 million.

On Feb 4, 2022, Hiap Hoe announced that the reserve price for the Orchard Towers collective sale was set at about $1.6 billion. 

Orchard Towers was built in 1975. The freehold mixed-use development has two 25-storey towers linked by an overhead bridge across Claymore Drive. The two towers have a mix of strata shops, offices and apartments. 

Shares in Hiap Hoe closed flat at 75 cents on Feb 20.

 

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LHN to buy GSM Building for $80 million to expand serviced residences offering

LHN to buy GSM Building for $80 million to expand serviced residences offering

SINGAPORE (EDGEPROP) - LHN has agreed to buy GSM Building in a collective sale for $80 million, with an eye to convert some of the space in this commercial building along Middle Road into serviced apartments as part of its broader expansion into this market.

GSM was relaunched for collective sale in January this year, with a guide price of $85 million. The property was first put up for collective sale in August 2022, with an earlier attempt back in 2020 and an asking price of $98 million.

The property was marketed by Mount Everest Properties.

The property, at 141 Middle Road, has a total land area of 1,115.1 sqm with a tenure of 99 years commencing from May 2, 1978.

The property consists of 33 units, of which 13 are self-occupied and 20 are rented out, respectively, as well as common property.

In a filing to the stock exchange on Feb 10, LHN says it intends to convert levels 3 to 6 of the building into serviced apartments.

LHN will be applying to the Urban Redevelopment Authority for permission to make this change.

"The GSM acquisition will expand the group’s portfolio of residential and commercial properties under its space optimisation business in Singapore, increase the brand value of Coliwoo, provide potential capital appreciation to the group, and provide additional opportunities to generate revenue," says LHN.

Coliwoo is a short-term stay brand under LHN.

LHN shares closed at 30 cents on Feb 10, up 1.69%.

 

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Charming Garden up for collective sale at $175 mil

Charming Garden up for collective sale at $175 mil

SINGAPORE (EDGEPROP) - Charming Garden, a 999-year leasehold apartment at King’s Road, off Farrer Road in District 10, is launching for collective sale by way of a public tender, according to a Dec 5 press release by marketing agent Colliers. The development has a guide price of $175 million, which works out to $2,096 psf per plot ratio (psf ppr), or $2,074 psf on the land area.

Located at 138 and 140 King’s Road, Charming Garden was completed in the 1980s and comprises 32 units. The four-storey residential development sits on an 84,357 sq ft elevated site. Colliers says the site redevelopment will have a gross floor area (GFA) not exceeding the verified existing GFA of around 83,491 sq ft. The site is not eligible for the bonus GFA scheme, and no Land Betterment Charge is applicable.


Map and overview of Charming Garden (Source: EdgeProp LandLens)

 

Tang Wei Leng, Colliers’ managing director and head of capital markets and investment services in Singapore, believes that the site will appeal to both developers and ultra-high-net-worth individuals, given its 999-year leasehold tenure as well as its location in “one of Singapore’s most prestigious residential enclaves made up of largely landed housing”. This includes Good Class Bungalow areas like Victoria Park, Cornwall Gardens and Belmont Park.

The property is within 1km of Nanyang Primary School and is a five-minute walk to the Farrer Road MRT Station on the Circle Line. Nearby amenities include Empress Road Market and Food Centre and the Singapore Botanic Gardens.


Table showing summary of private non-landed residential developments surrounding Charming Garden (Source: EgdeProp Research tool)

 

The public tender for Charming Garden will close on January 17, 2023, at 3pm.

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Sevens Group buys freehold property on Jalan Ulu Siglap for $10.3 mil

Sevens Group buys freehold property on Jalan Ulu Siglap for $10.3 mil

SINGAPORE (EDGEPROP) - A freehold property comprising four strata-titled apartments located at 1 Jalan Ulu Siglap, off Upper East Coast Road in District 15, has been sold en bloc to property developer Sevens Group for $10.3 million. 

Read also: Freehold apartment East Court sold to Macly Group for $19.9 mil

The property was completed in 1984 and has a total gross floor area of 5,833 sq ft. It sits on a land area measuring 6,872 sq ft which has URA planning approval for three-storey mixed-landed housing.

The site is located within walking distance of the upcoming Siglap MRT Station on the Thomson-East Coast Line. Other nearby amenities include eateries and shops located along Upper East Coast Road and malls such as Siglap Centre, Bedok Mall and Parkway Parade, all of which are within a short driving distance.

The owners of the four strata apartments were represented by Marge Christy Ho and Serene Goh from OrangeTee & Tie. The property was put on the market around six weeks ago with an indicative price of $11 million.

According to Ho and Goh, the site garnered a number of offers. “We received a healthy number of interested buyers which included five developers and a few private buyers who were looking at redeveloping the site,” they state.

Sevens Group plans to redevelop the site into three landed homes comprising a pair of corner terraces with land areas between 2,260 sq ft and 3,660 sq ft, as well as an intermediate terrace with a land size of around 1,830 sq ft. The future homes will be priced at roughly $3,000 psf to $3,500 psf on the land area.

“This unique and attractive site presented us with a great opportunity to replenish our landbank,” says Wayne Chua, Sevens Group’s sales and marketing director. “This allows us to continuously have a healthy pipeline of quality landed homes going into 2023 and further anchor our presence as the leading landed developer in District 15,” he adds.

List of landed developments - EDGEPROP SINGAPORE
List of landed developments within a 500m radius of 1 Jalan Ulu Siglap (shown in gray on the map) (Source: EdgeProp LandLens)

1 Jalan Ulu Siglap is located not far from Woo Mon Chew Court, a six-unit freehold apartment (shown in orange on the map above) that was sold en bloc for $8.6 million in April 2021. (See potential condos with en bloc calculator)

 

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Freehold apartment East Court sold to Macly Group for $19.9 mil

Freehold apartment East Court sold to Macly Group for $19.9 mil

SINGAPORE (EDGEPROOP) - East Court, a freehold apartment located at Koon Seng Road in District 15’s Joo Chiat area, is being sold via private treaty to developer Macly Group for $19.875 million. The option for the transaction was exercised on June 20, according to William Gan, managing director at WGR Property Consultants, who brokered the deal. The sale price translates to a land rate of $1,063 psf per plot ratio.

See also: K16 Development's Atlassia in Joo Chiat sells 48% of total units on launch weekend

East Court is a low-rise walk-up apartment that was completed in 1986. It sits on a land site measuring 13,351 sq ft with a gross plot ratio of 1.4. The eight units available at the development are housed in a single four-storey block, with sizes ranging between 1,500 to 1,700 sq ft. 

Map and overview of East Court - EDGEPROP SINGAPORE
Map and overview of East Court (Source: LandLens)

Macly is reportedly planning to redevelop the site into a five-storey development with 19 residential units. The freehold site is located within walking distance to shops and eateries along Joo Chiat Road. It is also a short drive away from several malls including Parkway Parade, i12 Katong, Katong Shopping Centre and Katong V. Other nearby amenities include East Coast Park, Dunman Food Centre 85 Marine Parade Central Market.

 

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Owners of Jansen Mansions in Kovan make third en bloc attempt priced at $18.9 mil

Owners of Jansen Mansions in Kovan make third en bloc attempt priced at $18.9 mil

SINGAPORE (EDGEPROP) - Jansen Mansions, a 999-year leasehold apartment on Jansen Road in Kovan, will be launched for collective sale via public tender on June 2 with a reserve price of $18.9 million. 

See also: 999-year leasehold residential site in Kovan going for $18 mil

Map - EDGEPROP SINGAPORE
Map and overview of Jansen Mansions (Source: EdgeProp LandLens)

This is the owners’ third attempt at a collective sale. The previous attempt was made in February last year when the development was put on the market with a reserve price of $19.8 million before it was subsequently reduced to $18.5 million in a tender relaunch in August 2021. Prior to that, the building was launched for collective sale in 2018 priced at $22 million.

More than 80% of the owners of the 12-unit development have given their consent to the collective sale, according to PropNex Realty, which is marketing the property. Based on the reserve price of $18.9 million, this works out to a land rate of $855 psf per plot ratio, inclusive of development charges and factoring in the 7% bonus balcony space.

Jansen Mansions sits on a 16,593 sq ft site that is zoned for residential use with a plot ratio of 1.4. Completed in 1990, it has a total gross floor area of 23,230 sq ft. According to Tracy Goh, head of investment and collective sales at PropNex, the site can be redeveloped into a boutique residential development offering 21 units with an average size of 1,076 sq ft. Such a development is ideal for family offices and developers looking to ride on healthy local demand and sales momentum, she adds.

The collective sale tender will close on June 28 at 2pm.

 

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