Reliable $1 Web Hosting by 3iX

Friday, April 9, 2010

ST : Toh Tuck Apartment site up for sale

Apr 8, 2010

Toh Tuck Apartment site up for sale

By Joyce Teo

A FREEHOLD residential redevelopment site in the Bukit Timah area, with an expected price tag of $35.5 million, has been put up for sale.

The 26-year-old Toh Tuck Apartment, formerly known as Toh Tuck Garden, currently sits on the 40,449 sq ft site, which has a plot ratio of 1.4, allowing it to be rebuilt to five storeys.

Marketer HSR said the seller's expected price of $35.5 million works out to $650 per square foot per plot ratio (psf ppr), inclusive of an estimated development charge of $5 million.

The site is owned by Aik Hwa Trading, formerly a small-time developer but now in the building materials business.

Because the plot is owned by one party, the sale is likely to go through quicker than a typical collective sale lacking 100 per cent owner approval.

Mr Jeffrey Goh, head of investment sales for HSR, said that given the additional 10 per cent gross floor area for balconies, the site could be redeveloped into 75 apartments with sizes ranging from 590 sq ft to 1,660 sq ft.

He estimated that a new development on the site could command a price of at least $1,200 psf. Already, developers have indicated interest and asked for more information, he said.

Property experts report that developers are hungry for land, but at present find some asking prices in the private collective sale market too high.

Toh Tuck Apartment is near developments such as Kismis View, The Beverly and Green Lodge.

Green Lodge was put up for collective sale late last year, but its tender closed earlier this year without attracting any firm bids.

Owners there were asking for $135 million, or $683 psf ppr, including a development charge. Their collective sale agreement has since lapsed.

The tender for Toh Tuck Apartment closes on April 23.

1 comment:

  1. Hello Everybody,
    My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

    ReplyDelete

Pre-development Land Investing

In business for over 30 years, success in providing real estate investment opportunities to clients around the world is a simple, yet effective separation of roles and responsibilites. The four pillars of strength guide the land from the research and acquisition, through to the exit, including the distribution of proceeds to our clients ......


To know more how this is really work for you and your clients....

Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com