More sites are being put up for collective sales, with more than S$1.5 billion worth of private property hitting the market yesterday.
The site with the biggest price tag is Faber Garden, going for around $830 million. Located along Upper Thomson Road, the 544,738 sq ft freehold site has a plot ratio of 1.6 and a potential gross floor area of up to 958,748 sq ft, including 10 per cent balcony space. It can potentially yield 760 units with an average size of 1,200 sq ft. An estimated development charge of about S$31.2 million is payable.
Given the freehold tenure of Faber Garden, the site would command a premium relative to the 99-year leasehold tenure of Thomson Grand, and the indicative price works out to be in excess of S$830 million.
Separately, Dunearn Gardens in Dunearn Road has been put up for sale with an indicative price of S$550 million to S$561 million. The freehold property has a land area of about 95,442 sq ft and a plot ratio of 2.8. With 10 per cent balcony space added to the proposed development, the price is about S$2,050 to S$2,090 psf ppr.
Meanwhile, the nearby Newton Lodge in Newton Road has been put up for sale with an indicative price of S$40 million. The freehold site has an area of approximately 21,409 sq ft and a plot ratio of 1.4. A development charge of about S$2.5 million is payable.
In Spottiswoode Park, the freehold Dragon Mansion has been put up for sale with an indicative price of S$132 million to S$142 million, or S$1,200 to S$1,290 psf ppr. The redevelopment site consists of two plots of land - Dragon Mansion and a substation - with a total area of 39,176 sq ft and a maximum gross plot ratio of 2.8.
Source: TODAY – 18 October 2011
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