Tag Archives: Amber Road

Twin Katong collective sales hit jackpots

The enbloc fever in Singapore does not seems to subside but only get hotter. Not only that record prices have reached for collective sales in their respective regions, but ever more estates are hopping onto the wagon.

The popular East Coast/Katong area also hit headlines recently. Notwithstanding the recent transaction in July for The Albracca, a 10-storey residential development (23,400 sq ft) site along Meyer Road, which has been successfully sold in its first attempt at a collective sale to Sustained Land for S$69.1 million, two prime sites in the vicinity has also hit their respective jackpots.

1. Nanak Mansions
The freehold Nanak Mansions development in upmarket Meyer Road has been bought by an associate of UOL Group in a $201.1 million en bloc deal. Secure Venture Development (No. 1), UOL’s associate company, will redevelop the 10,185 sq m site, which has a gross plot ratio of 1.4.

Meyer Road is dubbed as  ‘Nassim Residences of the East’ — a highly coveted location in the popular seaside area in Singapore. It is a low-rise development completed in the 1980s, located less than 0.5km from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line. Currently it comprises 36 maisonettes, each with either four or five bedrooms, all belonging to members and companies of a low-profile Singaporean Indian family. All 36 units have been rented out.

The site may be redeveloped into a five-storey project with a maximum gross floor area of 153,482 sq ft. This means it can accommodate a maximum of 203 units with an average size of around 700 sq ft in terms of gross floor area. The $201.1 million price tag works out to $1,429 per sq ft per plot ratio (psf ppr), after factoring in development charges payable upon redevelopment. This is comparable to the $1,409 psf ppr obtained for The Albracca at $69.1 million.

2. Amber Park

A 200-unit freehold condominium in Katong, Amber Park has been taken for S$906.7 million by its original developer CDL. This is the fourth time that Amber Park has been put up for sale. There are as many as eight bids for this prime site.

Built in 1986, the new winning party includes City Developments Ltd (CDL), through its wholly owned subsidiary Cityzens Development, and joint-venture partner Hong Realty.

The sale price reflects a land rate of about S$1,515 per sq ft per plot ratio, based on the allowable gross plot ratio of 2.8, in Singapore’s largest freehold collective sale by dollar value. At this sale price, the owners would expect to receive between S$4.3 million and S$8.3 million.

The winning consortium intends to redevelop Amber Park into a luxury condominium development comprising four 25-storey blocks with close to 800 units and a basement carpark. The current site has an area of 213,675 sq ft, and an allowable gross floor area of about 598,290 sq ft. The Tanjong Katong MRT station, located 200m from the site, will be completed in 2023.

The aggressive bid exhibits optimism among developers for Singapore property market. Though this may bring good news for property sellers, many industry experts caution against overtly optimism which may not be sustainable in the short term as loan interest rates looks poised to increase and rental market remains in the doldrums for the recent years.

 

$720K for a freehold property in Katong. Also for rent at $2.9K

Katong is the evergreen residential estate in Singapore. Mountbatten Suites is a low-rise development near the eateries of Katong. Minutes drive to CBD, Orchard Road and Airport, 441 sqft. Vacant now. Great investment choice in D15. Asking only $720K. Now with the announcement of the TEL line, the potential in the area is tremendous. The nearest station is at nearby Amber Road. Also for rent at $2.9K

Call 94772121 for more details.

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http://www.propertyguru.com.sg/listing/14693040/for-sale-mountbatten-suites

Tanjong Katong Shophouse for sale at $5M

A freehold conservation shophouse building in Tanjong Katong Road went on the market yesterday with an indicative price of at least $5 million.

The price is based on a valuation done earlier this year, and works out to $2,017 per sq ft (psf) of the two-storey building’s gross floor area of 2,478 sq ft.

The shophouse at 370/370A Tanjong Katong Road sits on a land parcel of around 1,484 sq ft.

It can have a maximum gross floor area of three times that size, according to the latest masterplan, its marketing agent CBRE said in a statement.

This translates to a price of about $1,123 psf per plot ratio (ppr).

The expression of interest for the shophouse closes on Oct 7.

The property, which is owned by a private individual, is zoned for residential use with commercial space on the ground floor.

It is surrounded by landed houses in the Goodman and Mountbatten area. There is also a public carpark directly across the road.

Ms Sammi Lim, associate director of investment properties at CBRE, said in a statement yesterday that the property was vacant, which would give the buyer more flexibility in deciding what to do with it.

It is near the proposed Amber MRT station on the upcoming Thomson-East Coast Line, she added.

A two-storey conservation shophouse in Tanjong Katong was put up for sale in June this year, also by CBRE. That was larger, with a land area of about 2,025 sq ft. Its indicative asking price was $8.38 million, which works out to $1,379 psf ppr.

– See more at: http://business.asiaone.com/news/5m-price-tag-shophouse-tanjong-katong#sthash.voy0DfcA.dpuf

Properties to be acquired for the new TEL line

http://www.straitstimes.com/news/singapore/transport/story/thomson-east-coast-line-6-amber-road-houses-tanjong-katong-apartments#9

The latest addition to Singapore’s rail network is a 13km, nine-station line tracing the east coast shoreline.

Transport Minister Lui Tuck Yew announced this during a visit to the Marina South Pier Station, which is an extension of the North-south Line that is expected to open later this year. Mr Lui said the new line – originally called the Eastern Region Line – is scheduled for completion by 2024, and expected to cost $6.8 billion.

The line is an extension of the Thomson Line and will head east through areas such as Tanjong Rhu, Marine Parade and Siglap and terminate at the world’s first four-in-one depot in Bedok South.

The project will however involve 24,136.4 sq m of land being acquired. Six houses along Amber Road and a three-storey walk-up apartment block at 443-447 Tanjong Katong Road will be fully acquired.

Eight partial lots will also be acquired. This includes part of the land that condominium Laguna Park along Marine Parade Road sits and part of the land that St Patrick’s School sits on.

Other partial lots being acquired are along Tanjung Rhu Road, Meyer Road, East Coast Road and Changi South Street 2 and 3.

The bulk of the acquisition, however, will come from Laguna Golf & Country Club which will have to give up 17,656 sq m.

Panoramic shot of the walk up apartment with a provision shop along Tanjong Katong Road (right) and the cluster of six semi-detached houses (left) along Amber Road that will make way for Amber Station on the upcoming East Coast Line as seen on Aug 15, 2014. -- ST PHOTO: KEVIN LIM

The cluster of six semi-detached houses along Amber Road that will make way for Amber Station as seen on Aug 15, 2014. -- ST PHOTO: KEVIN LIM 
An individual unit of the cluster of six semi-detached houses along Amber Road that will make way for Amber Station as seen on Aug 15, 2014. -- ST PHOTO: KEVIN LIM
An individual unit of the cluster of six semi-detached houses along Amber Road that will make way for Amber Station as seen on Aug 15, 2014. -- ST PHOTO: KEVIN LIM
An individual unit of the cluster of six semi-detached houses along Amber Road that will make way for Amber Station as seen on Aug 15, 2014. -- ST PHOTO: KEVIN LIM

Amber Glades Apartments for Rent

Amber Glades is a mid-sized development which consists of two 10-storey block. It is situated between the famed Katong area as well as Marine Parade. There are a few units for rent here. 1087-1668 sqft. 3 and 4 bedrooms available. Rental from $4200 onwards. Very affordable. Minutes to Parkway Parade, Katong eateries and town. Call +659477-2121 for more details.

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Amber Glades living rooms

 

Amber Road

Amber Road is an L-shaped road that connects the junction of Haig Road and Mountbatten Road to Tanjong Katong Road. The road was named after the family clan name of Joseph Aaron Elias, a prominent property owner in early 20th-century Singapore. Popular landmarks on this road include the Chinese Swimming Club. This place is now filled with posh and new condominiums. Upcoming TOP projects include the SHORE and SILVERSEA.

Amber Rd