Regent Court put up for sale

Regent Court put up for sale

By Jo-ann Huang | Posted: 20 January 2011

SINGAPORE: Regent Court, a freehold residential property at 1091 Serangoon Road, has been put up for sale by tender.

The property has a combined land area of 38,857 square feet and is zoned for high rise residential development of up to 36 storeys.

It has a plot ratio of 2.8, which allows a maximum gross floor area of 108,800 square feet.

No development charge is payable.

According to its marketing agent Cushman & Wakefield, the land can allow the new developer to build some 200 apartment units with average sizes of 500 square feet.

The property is worth in excess of S$83 million, translating to a minimum price of S$763 per square foot per plot ratio.

The minimum break-even project cost works out to be about S$1,200 per square foot, said Cushman & Wakefield.

Donald Han, vice chairman of Cushman & Wakefiled, said: “The Serangoon area has been recognised as a strategic suburban residential area.”

This is due to its proximity to the city centre, as well as HDB upgraders’ interest to own and occupy condominiums.

The area also has potential to become a choice residential cluster, due to its relatively central location and its closeness to the new Nex shopping mall.

Cushman & Wakefield said the connectivity of the Serangoon area will be improved with the completion of the Circle Line and the Upper Serangoon PIE viaduct.

The tender exercise for Regent Court is expected to close on February 28.

- CNA/fa

Source : Channel NewsAsia – MediaCorp Pte Ltd Copyright

Jurong Lake area set for major facelift »« NSE May Boost Property Prices

NSE May Boost Property Prices

NSE May Boost Property Prices

But construction could adversely affect prices of nearby residences in short term
by Lynda Hong Ee Lyn and Hetty Musfirah Abdul Khamid

SINGAPORE – Completion of the North-South Expressway (NSE) could see property prices of some homes go up as a result of the added convenience for residents.

But analysts noted yesterday that in the short term, the prices of nearby condominiums could be adversely affected by the massive construction work, which will start in 2013 and is expected to be completed in 2020. The NSE will be Singapore’s longest road viaduct and portions will run through tunnels.

Some of the fences, boundary walls and grass verges of condominiums along Ang Mo Kio Ave 6, leading to Lentor Avenue, have been gazetted for land acquisition.

Analysts told MediaCorp that the type of expressway built could affect property prices, especially condominiums which would be partially acquired.

SLP International property consultancy executive director Nicholas Mak said: “The most disruptive type is the viaduct. A viaduct that is constructed right next to the boundary of the existing condominium, will adversely affect some of the lower floors, from levels one to five.”

The noise and dust and pollution from the viaduct could be considerable, he said. On the other hand, a tunnel would least affect the value and attractiveness of a property.

Meanwhile, residents of the Good Shepherd Convent on Marymount Road are concerned about its future. Sisters Joan Lopez and Delphine Kang wondered how they would continue to serve the interests of their girl students and those who come to pray and mediate in the quiet environment of the convent.

The Singapore Land Authority and the Land Transport Authority had said that the building would be one of those which would be acquired.

But some are holding out hope that the building, which used to house Marymount Convent School, will be intact.

Ms Sandra Jayandran wrote in a letter to this newspaper: “I’m sure plenty of old girls as well as the Catholic population would be much happier knowing that the building will be preserved.”

Source : TODAYonline – MediaCorp Press Ltd’s copyright

Regent Court put up for sale »« URA Offers Two More Residential Sites For Sale