>

>

Soilbuild Group pays $143.88 mln for Kemaman Point

By Charlene Chin

/ EdgeProp |

June 19, 2018 3:43 PM SGT

Soilbuild Group has purchased the freehold, 89-unit Kemaman Point en bloc for $143.88 million.

The sale price for the apartment block located off Balestier Road translates to a land rate of $1,173 psf per plot ratio (ppr). If the 10% bonus balcony and development charge of $6.1 million were included, the land rate would be reduced to $1,111 psf ppr, according to marketing agent Knight Frank.

Based on the plot ratio of 2.8, the site of 43,825 sq ft can be redeveloped into a new development with a maximum gross floor area of 122,711 sq ft. This translates to a new condominium tower of 162 units, assuming an average unit size of 753 sq ft (70 sq m). "The new high-rise development will enjoy unobstructed views towards Jalan Kemaman, over low-rise landed houses”, says Ian Loh, executive director and head of investment and capital markets at Knight Frank Singapore.

The existing Kemaman Point is made up of a block of 89 apartments. Each owner will therefore stand to receive $1.4 million to $2.32 million.

Stay updated with En Bloc Singapore - Latest News, Enbloc Potential, Listings & Sales in 2021

Tags:

Kemaman Point en bloc Soilbuild Group

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Perennial Holdings and Far East Organization unveil Golden Mile Singapore, and will launch the strata commercial units this month

2

Government ramps up private housing supply; offers three EC sites on Confirmed List

3

Novo Place hits 88.1% as 137 units snapped up in second balloting

4

Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

5

What’s next for Bayshore

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00