Jul 26, 2017

Serangoon Ville SOLD

The tender closed on 25 Jul @ 4pm


Buyer: Oxley Serangoon (this is the same consortium -Oxley, KSH, Lian Beng and Apricot Capital- that bought Rio Casa (ex HUDC in Hougang) in May 2017 for S$575 million.

DC/DP: $195m
No Units: 244
Site area: 296,913 sqft
$psfppr: $835

Sale price per unit: $499/244 = $2.04m/unit

ex-HUDC's sold to date

So, the last 5 ex-HUDCs have been sold in the $700-$900 psfppr range
  • ShunfuVille - May 2016 - $747 psf ppr
  • Raintree Gardens - Oct 2016 - $797 psf ppr
  • Rio Casa - May 2017 - $706 psf ppr
  • Eunosville - May 2017 - $909 psf ppr
  • Serangoon Ville - Jul 2017 - $835 psf ppr

See also: 

Tampines Court should not go for anything less than $700 +psf ppr which would mean a Sale Price of over $1+ billion. This figure might seem like a fairytale figure to some but it is well in keeping with the potential profit to be made from a redeveloped site. New units at TC will sell like hotcakes and the developers know it. 

Tampines Court Owners should not expect anything less than $2,000,000 each for their units. This is not pie in the sky - we have 5 precedents in our favour and a skyrocketing market. This is where our Team should show leadership and let our RP rise in tandem with the market. It is their job - to read the signs and forge ahead. 

The signs are all pointing upwards.

33 comments:

  1. Anonymous26 July, 2017

    bidders will only put in their bids at the last minute of 4pm, else they risk their bids being leaked.

    what happens if a developer put in a bid 24 hrs later, and having the benefit of having "cheated", but put it the winning bid? What if another developer also "cheated" and put another winning bid on the 25th hour?

    ReplyDelete
    Replies
    1. Anonymous27 July, 2017

      Good Points.

      As far as I know, there were no delays in making a public announcement in all recent ex HUDC successful Enbloc. I'm baffled that Tampines Court CSC has up to a month after tender closing to declare the winner !
      Should bids fall below RP, all details should be revealed to SPs to get their feedback if its worthwhile to venture into private treaty negotiations on a revised RP.

      Openness, transparency, information sharing and prompt action is the way to go as all recent successful, less contentious Enbloc have shown.

      An open invitation to witness the opening of the tender box is but a facade of openness and transparency if the actual bids not revealed to SPs there and then.
      For SCMA sake, I hope TC receives a bid well above RP as implied by MA bidding war strategy and in line with all recent trends in ex HUDC Enbloc.

      Delete
    2. Anonymous27 July, 2017

      Underhanded enbloc dealings can only happen if those in charge are likewise unscrupulous. It takes two to tango. Many enbloc cheats have been exposed; many have escaped scrutiny and the Law I'm sure.
      Everybody's a loser: The cheats sell their soul to the devil, the innocent receive less than they deserve and the authorities collect less revenue.

      Delete
    3. Anonymous27 July, 2017

      Please to everyone involved - go strictly within the law, in an open, fair and competitive tender. Don't give the chance for any losing bidder to find out and leak and go into a long lawsuit process.

      We all lose in the end.

      I don't know how the tender box (if there is one) is accessed and probably it is not even locked or private nor audited. Hence the cookie is in the jar for the box owner to look at it whenever a bid comes in, and the mouth is open for the box owner to disclose.

      Hence, integrity is important, we are almost there after so long. Don't screw up!

      Delete
    4. Anonymous27 July, 2017

      What devil, what loser ? Why don't look at more postive side ? You are too negative, maybe influence too much by the negative vibe from this blog because the owner has nothing positive to contribute except negative comments against since the day the enbloc started! . Stay positive & together with the rest of majority & the team we will win big this round !

      Delete
    5. Anonymous27 July, 2017

      Blog owner is boldly advocating for an even better payout for SPs with justification: recent HUDC enbloc sales as comparison. She's positive and ahead of the game. Contrast this with MA's negativity with TC; Too big to swallow, Not a clean site, Silver Zone... to depress the value of our land.
      This team lacks urgency, imagination and prone to making silly, careless mistakes on a Big Deal that is our homes. Your confidence in them is grossly misplaced.

      Delete
  2. Anonymous26 July, 2017

    No news update ? What happen ?

    ReplyDelete
    Replies
    1. Anonymous27 July, 2017

      Why you need news update from this blog ? Nothing is official until it is published in mainstream media.

      Delete
  3. Anonymous26 July, 2017

    its out

    ReplyDelete
  4. Anonymous26 July, 2017

    congrats to our friends at serangoon. we are next in queue now.

    ReplyDelete
  5. Anonymous26 July, 2017

    Hope the same thing happen to our home!

    ReplyDelete
  6. Anonymous27 July, 2017

    Can Tampines court make history for biggest en bloc sale beating farrer court?

    ReplyDelete
  7. Anonymous27 July, 2017

    This comment has been removed by a blog administrator.

    ReplyDelete
  8. Anonymous27 July, 2017

    You should not be talking about TC price expectation at this stage (even though it's yr own). Just let the bidders bid & we will know the result on 15 Aug. If you are so free please go do volunteer work.

    ReplyDelete
    Replies
    1. Anonymous27 July, 2017

      If you don't like what you see, then don't come here.

      Delete
    2. Anonymous27 July, 2017

      Must we leave it to those who propose a $50 million deduction because of "Silver Zone" to get the best price for us? I think not.

      Delete
  9. Anonymous27 July, 2017

    Tampines is very undervalued, is just at backyard of paya lebar airbase with big development plans in decades ahead , and right in center of changi airhub, changi logistic hub n paya lebar future development , and a true blue Singaporean heartland , not like jurong which is ah Tiong hotel, woodland for jiu hu kia hotel lol

    ReplyDelete
    Replies
    1. Anonymous27 July, 2017

      Tampines is better than Jurong for sure. Besides the factories, refineries the recently announced expanded Tengah Air Base don't make the west a desirable place to live. Believe me, the sound of freedom, roar of afterburners don't make for good neighbours. The Wild, Wild West may make a sound industrial investment. It's just not a good residential investment.

      Delete
  10. Anonymous27 July, 2017

    TC should get bid of 1.3 billion based on current developers' interests

    ReplyDelete
    Replies
    1. Anonymous27 July, 2017

      If bidder is already going to put in that much, he will want to get all the publicity possible by breaking the current HUDC record.

      Delete
    2. Anonymous27 July, 2017

      The baseline payout for all former HUDC sale this year seems to be 2 million. TC is a good site and we should not slip below that.

      Delete
  11. Anonymous27 July, 2017

    After 2 weeks of peace and it starting again. Can please stop the comment section, let have peace until the result announce. Thank you

    ReplyDelete
  12. Anonymous27 July, 2017

    Other matured estates all so old with many old ppl , walk also need walking assistance see already so depressing. Tampines best matured estate with still many young ppl !

    ReplyDelete
  13. Anonymous27 July, 2017

    Very Simple...

    Put the tender box that is strickly under the surveillantt of camera or cctv till the tender is closed or officially open.

    ReplyDelete
  14. Anonymous27 July, 2017

    It doesn't take a genius to figure out what would be the most likely tender outcome on 15 Aug. In today's market, developers know that to have any serious chance of securing the site, they would have to put in a bid of at least 2mil per unit...i.e. 1.12bil for TC case...anything less is simply wasting time as most likely someone else will win it....anything more,..maybe better to move on to the next site.

    ReplyDelete
    Replies
    1. Anonymous27 July, 2017

      But if you want anything in Tampines, this is it. 1.12bn barely buys the entry ticket. The market is moving so fast. I think it will be far more, mostly likely higher than farrer court. We shall see! I think even the blog owner will admit that this is worth the wait!

      Delete
  15. Anonymous27 July, 2017

    Within 1 day, Serangoon record smashed

    ReplyDelete
    Replies
    1. Anonymous27 July, 2017

      Thats why I said there could be a bid on 24th hour. And one more on 25th.

      Delete
    2. No15: Yes, I see that a GLS plot of land sold for $964 psf ppr in Serangoon North on Jul 27. Aggressive bids with the top bid from Keppel unit Corson and Wing Tai unit Wingjoy Investment.

      “A total of 16 bids were submitted, which indicated a very healthy level of participation from the developers even though the subject site is not located within walking distance to the nearest MRT station and retail shops,” he said.

      Delete
    3. Anonymous28 July, 2017

      i can only wonde if the gls was tendered first, and it came out at $835ppr. and then Serangoon ville a few days later which resulted in more fearful and desperate bidders, serangoon villes SPs may be looking a few hundred thousands more.

      Delete
  16. Anonymous27 July, 2017

    Lucky oxley bid at 835 ppr for S Ville. One day later they try 850 ppr but it is far far too low.

    ReplyDelete
  17. Anonymous28 July, 2017

    The GLS and Serangoon Ville are virtually apples for apples. I think blogger needs to update RLV again with baseline ppr of 900...

    ReplyDelete
  18. Anonymous28 July, 2017

    18 days more. Plenty of time for bidders to think carefully the bid strategy. The bid price will definitely be high and virtually sure this will be a record for hudc enbloc.

    The question is how creative developers can be to maximise sale price. There is a lot of land to develop a masterpiece. For the lucky and creative bidder, 1600psf units will not be a problem!

    ReplyDelete