December 2022 records: 5-room DBSS in Jurong West sold for S$858k, 2-room HDB in Choa Chu Kang sold for S$318k

Individually, a 495-sqft, 2-room (Model A) HDB resale level at 535 Choa Chu Kang Street 51, located within the 7th to 9th-floor range, had just established a record for 2-room flats in the community when it was cost S$ 318,000 (S$ 642 psf) in December 2022.

The previous document established for a 2-room level in CCK was in June 2022, when a 495-sqft system in the same block (10th-12th floor range) was cost S$ 305,000 (S$ 616 psf).

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Finished in September 2014, Lake View has a staying lease of 90 years 9 months. It consists of 682 devices across 3-, 4- and also 5-room flat types.

Most of the 5-room systems within Blocks 138B to 138D of Lake View face the slim, open field area bounded by Firm Drive, Hu Ching Roadway and also Yuan Ching Road. Their porches ignore low-lying buildings formed by the Yuvabarathi International School as well as Jurong High School, with Jurong Lake Gardens to the east and also northeast.

A 5-room HDB level in DBSS growth Lake Vista, along Yuan Ching Road, has just been cost a record S$ 858,000 in December 2022, making it the most pricey 5-room HDB resale flat in Jurong West.

We need to stress that this growth is nowhere near any type of MRT terminal (Lakeside MRT terminal is about 2.2 kilometres, or a 27-minute walk away). It is, however adjacent to the SuperBowl Jurong purchasing area (with a Sheng Shiong grocery store) and also is a brief drive along the AYE to the Tuas Second Web link checkpoint.

The new sale even exceeded the record embeded in the adjoining town of Jurong East, where the present owner is a 1,324-sqft, 5-room (Enhanced) HDB resale flat at 288D Jurong East Street 21, cost S$ 805,000 (S$ 608 psf) in April.
Blocks 138B to 138D of Lake View Yuan Ching Roadway
Blocks 138B to 138D of Lake Panorama DBSS ignore low-lying structures developed by an international school and also Jurong Senior high school.

Yuan Ching Road Park View Mansions

The previous document owner for a 5-room HDB resale level in Jurong West was likewise at the exact same advancement however nearby block 138B. In August 2022, a 1,130-sqft device within the 13th-15th flooring range was sold for S$ 805k (S$ 712 psf).

The 1,163-sqft unit, located within the 19th-21st floor variety at block 138C, was cost S$ 738 psf, which is additionally a psf price document for 5-room apartments in the area.

The emphasize of this block is that it encounters Limbang Park and is next to the Limbang Shopping Centre. The advancement is called Limbang Meadows, with TOP on September 2011 and also a remaining lease duration of 87 years and 9 months.

The closest MRT terminal to Block 535 Choa Chu Kang St 51 is Yew Tee MRT station, regarding 800 metres away or about a 10-minute stroll. Choa Chu Kang MRT terminal is south of the block, which is about 1.3 kilometres away (about an 18-minute stroll).

Getting on a high floor, the record-selling device most likely has a breathtaking view of this “panorama”.

Kingsford and MCC Land behind $890 mil bid for Chuan Park in biggest en bloc deal of 2022 so far

Now that Normanton Park is completely sold, Kingsford has just one other upcoming development, specifically the 142-unit new project at Slim Barracks Rise. It had won the site in a government land tender last September with a bid of $162.388 million ($ 1,210 psf per plot ratio).

Age Realty, the advertising firm for Chuan Park, decreased to comment for this story. Kingsford Development might not be reached for comment.

This would make Chuan Park the most significant cumulative sale deal this year to day if the $890 million offer by Kingsford and also MCC Land goes through.

The new book price of $890 million is simply 5% listed below the original price tag of $938 million. The first cumulative sale effort made by the owners of Chuan Park was on Oct 5, 2021, at $938 million. This latest cumulative sale attempt was a relaunch at the same asking cost of $938 million, with a tender that closed on April 26. This was complied with by a 10-week exclusive treaty period that closed on June 26, throughout which an expression of rate of interest from a designer was gotten.

Chuan Park has 444 condominium systems as well as two shop systems in the growth. It lies next to Lorong Chuan MRT terminal
Completed in 1984/85, the existing Chuan Park has 444 condo units and 2 strata business systems resting on a 400,588 sq feet website with a story ratio of 2.1. The website is situated next to the Lorong Chuan MRT station on the Circle Line.

Market conjecture has been raging that Kingsford is the customer of Chuan Park because it fully offered all 1,862 units at Normanton Park as at end June. And also this was accomplished in simply 18 months given that its launch in January 2021

The 1,862-unit Normanton Park is totally offered as at end June, 18 months after its launch in January 2021.
Normanton Park is a cumulative sale of the previous 488-unit privatised HUDC estate of the same name. Kingsford Development had acquired the 661,005 sq ft, 99-year leasehold website for $830.1 million. Building and construction of the new 1,862-unit Normanton Park is handled by MCC Singapore, the building and construction and engineering arm of MCC Group, and also is scheduled for conclusion by end following year.

The Vales Project Details

Word on the street is that Chinese developers Kingsford Development and MCC Land are the parties behind the $890 million deal for Chuan Park. Earlier on July 15, a notification was sent by the collective sale committee chairperson of Chuan Park condominium to all strata proprietors, revealing that a meeting will be hung on Monday, July 25 at 7.30 pm “to supply info concerning the collective sale”.

First product on the program was to offer an update on the percentage of units (by strata area and also by share worth) that had actually signed the supplementary joint contract to change the get price to $890 million. According to resources, the identity of the programmer has actually not been revealed to the owners of Chuan Park yet.

Normanton Park is built on the website of the former privatised HUDC estate, the 488-unit Normanton Park beside Kent Ridge Park

Normanton Park is a collective sale of the previous 488-unit privatised HUDC estate of the same name. Construction of the brand-new 1,862-unit Normanton Park is managed by MCC Singapore, the building and construction and also design arm of MCC Group, and is scheduled for completion by end following year.

According to resources, Kingsford had actually intended to win the tender for the surrounding site at Slim Barracks Parcel An also, which had closed at the same time. It directly missed out on winning the site by $4 million with a quote of $316.1 million ($1,230 psf per plot proportion) loved one to EL Development’s leading quote of $320.1 million ($1,246 psf) at the close of the tender last September.

The initial collective sale effort made by the owners of Chuan Park was on Oct 5, 2021, at $938 million. Completed in 1984/85, the existing Chuan Park has 444 condominium devices as well as 2 strata commercial systems resting on a 400,588 sq ft website with a story ratio of 2.1. The site is situated next to the Lorong Chuan MRT terminal on the Circle Line.

MCC Group’s participation in Chuan Park either as a joint endeavor partner under MCC Land or as a contractor for the job under MCC Singapore remains to be seen. If the collective sale of Chuan Park at $890 million succeeds, this could offer restored hope to other cumulative sale hopefuls at various other aging leasehold developments.

Kingsford is claimed to be “starving for sites”. The 2nd project was Kingsford Waterbay, with 1,165 units fronting the Serangoon River.

Lim Wan Looi, wife of Fragrance Group’s boss, buys Good Class Bungalow at Bishopsgate for $65 mil

The customer is Lim Wan Looi, better half of Fragrance Group founder and exec chairman Holland Drive Condo James Koh, that has actually been on an acquiring spree of bungalow sites this year, beginning with the acquisition of a 25,272 sq ft, property GCB story for $24.8 million on Lornie Road in Caldecott Hill Estate in January, based upon a caveat lodged with URA Realis. Prior to that, he bought a 21,046 sq ft, estate cottage website at Hillside Drive for $19.25 million ($ 915 psf), according to a caveat lodged last September.

The GCB at Bishopsgate that lately changed hands for $65 million rests on a property website of 29,435 sq ft.

The GCB at Coronation Road West recently changed hands for $47.288 million.

According to resources, the acquisition price was $40.5 million ($ 2,517 psf), as well as the deal is said to be brokered by Knight Frank.

The acclaimed bungalow was thought to be finished at some time in 2015. A home title search shows that the cottage is currently possessed by Esmond Choo, supervisor of UOB Kay Hian that retired at the end of April this year.

At Coronation Road West, an additional GCB is stated to have actually transformed hands for $47.288 million ($ 1,661 psf). A residential property title search showed that a deal had actually taken place on July 4. The cottage sits at the edge of Coronation Road West and Holland Road. It is an eight-bedroom mansion with a 20m swimming pool remaining on a property website of 28,474 sq ft.

Copen Grand EC

The Good Class Bungalow (GCB) has been very energetic in current months, with 3 transactions done over $40 million over the previous month. The most recent is a Good Class Bungalow resting on a 29,435 sq ft, estate site at Bishopsgate sold for $65 million ($ 2,208 psf).

The Good Class Bungalow (GCB) has been very active in current months, with 3 purchases done above $40 million over the previous month. The newest is a Good Class Bungalow sitting on a 29,435 sq ft, property site at Bishopsgate marketed for $65 million ($ 2,208 psf). The GCB at Bishopsgate that just recently transformed hands for $65 million sits on an estate website of 29,435 sq ft.

At Coronation Road WestRoadway another GCB is said to have changed hands for $47.288 million ($ 1,661 psf).

The deal at Coronation Road West was brokered by Steve Tay, elderly associate vice-president of List Sotheby’s International Realty, that decreased to comment. Tay had listed the home for sale at $48 million in 2014.

Meanwhile, at Cornwall Gardens, off Leedon Road, a GCB resting on an Park Hill estate site of 16,089 sq ft is stated to have actually just transformed hands just recently also. The GCB designed by Chang Architects is claimed to have 6 bed rooms, a gym, amusement spaces, a library and also numerous dining rooms. It also has a roof yard, yard yard, swimming waterfall, swimming pool as well as koi fish pond.