Tag Archives: MRT

Citimac Industrial Complex up for enbloc sale again

The freehold development in the heart of Tai Seng industrial and commercial hub is up for sale again. The 110-unit industrial property of 1.3 ha size in MacPherson Road, Citimac Industrial Complex, has been put up for collective sale with a price tag of at least $430 million this time.

The eventual buyer would have to pay an additional $99 million in development charge (DC) for intensifying the land use — translating to a cost of $1,081 psf per plot ratio.

The redevelopment site is zoned “Business 1-White”, with a gross plot ratio of 3.5 under the URA Master Plan 2014. It can potentially yield a maximum gross floor area of 489,262 sq ft, of which at least 349,473 sq ft has to be for Business 1 or light industrial use, with the remaining for “white” use, which includes retail or commercial uses.

The white component is ideal for retail and F&B, such as cafes, restaurants and foodcourts, to tap on the growing catchment of workers in this up-and-coming F&B cluster, as well as residents in the neighbourhood,

BreadTalk Group, Sakae Holdings, Charles & Keith, Tee Yih Jia Group, Malaysia Dairy Industries and Lian Beng Group are among the many big names in the vicinity.

In February Mapletree opened its mixed-use development 18 Tai Seng, which boasts tenants such as Liao Fan Hawker Chan, Japanese Soba Noodles Tsuta and Tim Ho Wan.

Former HUDC projects back in En-bloc sale

The 330-unit Eunosville former HUDC estate is up for collective sale. Eunosville, less than 100m from Eunos MRT station, comprises of 10 residential blocks of maisonettes and four walk-up apartment blocks, translating to 255 maisonettes and 75 apartments. It has a remaining lease of about 70 years. The estate sits on a rectangular-shaped site with a land area of about 376,713 sq ft and wide frontage — along Changi Road and Sims Avenue.

Rio Casa, another privatised HUDC estate in Hougang, was put up for sale two days earlier. Rio Casa’s riverfront location will draw interest from developers. It is understood that the former HUDC estate Rio Casa collective sale is seeking a sale price of $451m.

The current sentiment in the property market may result in residential en bloc sales picking up this year, given the limited supply of private housing sites due for sale by the Government and revived demand for land shown by developers.

At least 20 more residential projects may go en bloc this year including Amber Park condominium, Lakeside Tower and The Balmoral condominiums.

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Renovated Duplex/Maisonette in East Coast/Katong area. MIns to i12Katong Mall, famous Katong eateries and short walk to the future MRT station, this is a great buy! 2045 sqft at $1.85M. Spacious. Call David King @ 9477-2121 for more details.

http://www.sgbayhomes.com/20489762

TRE Residences launched recently

SALES at TRE Residences in Geylang, a 250-unit condominium project jointly developed by Sustained Land, MCC Land and Greatview Development, will begin next weekend at an average indicative pricing of S$1,560 per square foot (psf).

The developers are also dangling early-bird discounts of up to 5 per cent during the Nov 15-16 launch.

The project’s launch is coming ahead of GuocoLand’s condo project at Sims Drive, Sims Urban Oasis, that is expected to be launched only early next year.

After factoring in the early-bird discounts, prices at TRE Residences start from S$690,000 for a 420-sq-ft one-bedder to S$899,900 for a 570-sq-ft two-bedder, S$1.179 million for a 764-sq-ft compact three-bedroom unit and S$1.38 million for a 947-sq-ft four-bedroom dual-key unit, according to marketing materials.

Huttons and PropNex are the official marketing agents for TRE Residences, a project that is 51 per cent owned by Sustained Land, 29 per cent by Greatview Development and 20 per cent by MCC Land (Singapore), a unit of the Metallurgical Corporation of China.

According to MCC Land managing director Tan Zhiyong, the breakeven price for the project is around S$1,300 psf, in line with the earlier projections of property consultants.

The project was widely expected to start selling at above S$1,400 psf, given the land bid of S$776 psf per plot ratio or S$146 million tabled by Sustained Land in January this year, consultants said.

SLP International executive director Nicholas Mak noted that the average indicative pricing for TRE Residences is steep compared to the median prices of between S$1,151 psf and S$1,497 psf for new sale transactions in the vicinity, including The Centren and Grandview Suites, in the past one year.

The 99-year-leasehold TRE Residences is priced similarly to freehold resale units at two other Geylang projects, Centra Heights and Centra Studios, which have a median price of S$1,507 psf and S$1,687 psf respectively for units transacted over the past one year.

R’ST Research director Ong Kah Seng noted that while the ideal price for a project in this locality would be around S$1,450 psf, the developers are likely assuming marginal profits due to the high land price paid for the smallish plot near Aljunied MRT Station.

The small number of units in the project and its location may work to its favour, said Mr Ong. “This location is very suitable for tenants who are single expatriates or those who prefer renting a small apartment, at most co-sharing of an apartment. Rental prospects for this project is fairly positive due to its convenient location.”

Mr Mak noted that the rental yields for selected 99-year condos near TRE Residences hover at 3.8-3.9 per cent per annum. To match this rental yield, the expected monthly rents for units in TRE Residences have to range from S$4.79 to S$5.19 psf. The median monthly rents in the Geylang planning area, however, have been S$3.30-S$3.80 psf in the past 15 months, he said.

Elsewhere, developers are also dangling discounts for selected units in existing launches to revive buyers’ interest. Roxy-Pacific is offering an additional 8 per cent discount for limited units at Trilive in Kovan; Singapore Land is tagging a 10 per cent discount and another 7 per cent discount for the absorption of the additional buyers’ stamp duty for limited units in Alex Residences in Redhill.

http://www.businesstimes.com.sg/real-estate/tre-residences-to-be-launched-next-weekend

Eastern Region Line finally announced — Thomson East Coast Line

http://www.channelnewsasia.com/news/singapore/thomson-east-coast-line/1313898.html

Singapore’s sixth rail line will start at Woodlands before heading towards the East Coast, and will have 31 stations spanning about 43km, Transport Minister Lui Tuck Yew announces. New stations include Marine Parade, Siglap and Tanjong Rhu.

The country’s sixth rail line – the Thomson-East Coast Line (TEL) – will be fully operational by 2024, the Land Transport Authority announced on Friday (Aug 15).

The previously-announced Eastern Region Line and the Thomson Line will be joined to form the single, continuous line, which will span about 43 kilometres with a total of 31 stations, seven of which will be interchanges.

Transport Minister Lui Tuck Yew, speaking at a visit to the soon-to-open Marina South Pier Station on Friday, said that when fully operational in 2024, the TEL will serve about 500,000 commuters daily. This could rise to 1 million passengers daily in the longer term.

FROM THE NORTH TO THE EAST

The line will provide direct connectivity for commuters in the north and the east of Singapore – starting at Woodlands and heading south through the Central Business District, then turning east at Gardens by the Bay station and travelling along a East Coast stretch that will be fully underground.

One of the nine stations on this stretch will serve as an interchange with Downtown Line 3 Extension (DTL3e) – a 2.2km line consisting of two stations, meant to improve accessibility to the Changi Business Park and Expo areas.

The East Coast stretch will also cover areas not currently served by the rail network such as Siglap, Marine Parade, Upper East Coast and Bedok South. Seven of the stations, from Tanjong Rhu to Bayshore, will be ready by 2023, while remainder of the line, as well as the DTL3e, will be completed the year after.

Also scheduled for completion in 2024 is a new 36-hectare depot, touted by the LTA as “the world’s first four-in-one train and bus depot”. The new structure will be able to house a total of 220 trains for the TEL, DTL and East West Line, as well as 550 buses.

To build the line, the Government will need to require six land properties along Amber Road and one three-storey apartment along Tanjong Katong Road, as well as nine partial lots elsewhere. The Singapore Land Authority on Friday gazetted the properties affected by acquisition, and said it would work closely with landowners throughout the process.

CONVENIENCE A CONSIDERATION

The LTA said that with the TEL, someone going from the East Coast to Orchard MRT station will have his travel time cut by half an hour, from 75 minutes to 45 minutes. A Republic Polytechnic student will be able to travel to Marine Parade in an hour, 20 minutes faster than the current bus ride would take.

Also, stations along the TEL will see longer underpasses of up to 400m long, as part of efforts to improve “first and last mile connectivity”, particularly for the elderly and children, the LTA said. Four of the stations along the East Coast stretch will also see Singapore’s first underground bicycle parks.

DTL3nTEL Eastern Region Line

http://app.lta.gov.sg/apps/news/page.aspx?c=2&id=3cc2e460-06ea-4245-a37f-df11b602ec7d

Train Network in Katong area

Accessibility options to Katong is abundant with choices. Buses are plentiful to Town, Orchard and Airport. The new MRT line is in the works. Existing stations of Paya Lebar, Eunos, Dakota, Mountbatten and Stadium serves the residents and visitors alike with great ease.

1. Dakota MRT Station (Circle Line)

https://www.google.com.sg/maps/vt/data=VLHX1wd2Cgu8wR6jwyh-km8JBWAkEzU4,-PYHvl422Mhh0WJO4-6Atzpp3Mig2LPljdLBMUqZ47zpl9HTXArlTkB16xqFSuQH_2AVhg6_BhyOwa3PFyNfF2egX3Uh4UTdNH8Vh3iTlCu6SK2sukzxGbOW7XM

http://www.smrt.com.sg/Trains/NetworkMap/Dakota.aspx

2. Paya Lebar MRT Station (Circle Line and East-West Line)

http://www.smrt.com.sg/Trains/NetworkMap/PayaLebar.aspx

3. Mountbatten MRT Station (Circle Line)

http://www.smrt.com.sg/Trains/NetworkMap/Mountbatten.aspx

4. Eunos MRT Station (East-West Line)

http://www.smrt.com.sg/Trains/NetworkMap/Eunos.aspx

5. Stadium MRT Station

http://www.smrt.com.sg/trains/networkmap/stadium.aspx

Office for rent in CBD Fringe $3.8K

An affordable office solution in CBD fringe area of District 7. Textile Centre office at #07. 1168sqft. Immediate now. 3 management offices with meeting rooms. Walking distance to 2 MRT stations of Lavender and Nicoll Highway. Call David King @ 94772121 for details.

http://sgbayhomes.wordpress.com/2014/07/07/d7-office-for-rent/

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