PROJECT DETAILS
Fourland parcel sites which are all walking distance to the upcoming Tanjong Katong MRT Station serving the Thomson East-Coast Line (TEL), located at the Eastern Region of Singapore, were sold for New and Upcoming Condo developments, through collective sales.
The former land sites namely,
- Amber Park, (New Launch- Retaining the name of Amber Park )
- Parkway Mansions
- The Nyon
- Amber Glades (New Launch- Amber Sea)
- Nanak Mansions (New Launch- Meyerhouse )
are located in the vicinity of Amber Gardens are allocated to be developed into private residential condominiums.
CDL Developments submittted the top bid of S$906.7 million for the site of Amber Park, which has a large land site of more than 200,000 square feet. This translates to a price of S$1,515 per square foot per plot ratio, inclusive of development charges.
Sustained Land led conortium submitted the top bid of S$146.99 million for the site of Parkway Mansion, which translates to S$1,536 per square feet per plot ratio, inclusive of development charges.
Far-East bought the land site of Amber Glades in 2011 at S$118.1 million, which translates to a price of S$1,066 psf ppr.
UOL submitted the top bid of S$201.08 million for the site of Nanak Mansions, which translates to a price of S$1,429 per square per plot ratio, inclusive of development charges.
New Condo Launches in Amber Gardens and Meyer Road- Connectivity
Residents of new and upcoming condos in Amber Gardens can be served by the Tanjong Katong MRT Station (Thomson East-Coast Line) which will start operating in 2023. As of now, the current nearest Datoka Circle Line MRT station is just a short drive away from new condos at Amber Gardens. Located in the prime location, a 5 minutes’ drive will get future residents of new condos at Amber Gardens to the downtown Financial District and Marina Bay New Downtown. New Condo at Amber Gardens residents can also take an 6 minutes’ drive down to the Orchard Shopping Belt for a weekend shopping spree. The nearby East Coast Parkway (ECP), Kallang Paya Lebar Expressway (KPE) and the Pan Island Expressway (PIE) makes island wide traveling a breeze.
New Condo Launches in Amber Gardens and Meyer Road- Amenities
For accessing to dining, shopping and entertainment facilities, future residents of new condos at Amber Gardens can take a 5 minutes’ drive down to Katong Shopping Centre, The Odeon Katong, Paramount Shopping Complex, Roxy Square, Parkway Parade, 112 Katong and Leisure Park Kallang where useful amenities such as food courts, supermarkets, retail outlets, F&B outlets and departmental stores are located which will bring everyday conveniences in terms of their daily shopping and dining needs.
New Condo Launches in Amber Gardens and Meyer Road- Education
Local school such as Tanjong Katong Primary School, Kong Hwa School, Chung Cheng High School (Main), Dunman High School, Northlight School, Tanjong Katong Girls’ School, Broadrick Secondary School and Tanjong Katong Secondary School are also located within short distance from new and upcoming condos at Amber Gardens.
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| Project | New Condo at Meyer Road at former site of Amber Park |
| Developer | CDL Developments |
| Location | Amber Gardens |
| District | 15 |
| Tenure | Freehold |
| Site Area | 19,850 square metres/ 213,670 square feet |
| GFA: | |
| Plot Ratio | 2.8 |
| Expected TOP: | |
| Total Units | Approximately 800 residential apartments |
| Total Carpark | |
| Development | Private condominium comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and Foreigners can buy |
| Project | New Condo at former site of Parkway Mansion |
| Developer | Sustained Land Consortium |
| Location | Amber Road |
| District | 15 |
| Tenure | Freehold |
| Site Area | 3,620 square metres/ 38,965 square feet |
| GFA: | 10,138.5 square metres/ 109,130 square feet |
| Plot Ratio | 2.8 |
| Expected TOP: | |
| Total Units | Approximatley residential apartments |
| Total Carpark | |
| Development | Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR and Foreigner can buy |
| Project | New Condo at Meyer Road at former site of Nanak Mansions |
| Developer | UOL |
| Location | Meyer Road |
| District | 15 |
| Tenure | Freehold |
| Site Area | 10,185 square metres/ 109,631 square feet |
| GFA: | |
| Plot Ratio | 1.4 |
| Expected TOP: | |
| Total Units | Approximately 203 residential apartments |
| Total Carpark | |
| Development | Private condominium comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and Foreigners can buy |
LOCATION and AMENITIES
Amenities Nearby Amber Gardens
| Category | Important Amenities in the vicinity of Amber Gardens | Approximate Distance |
| Train Stations | Dakota (CC8) Tanjong Katong (TE25) Thomson East Coast Line Due 2023 Katong Park (TE24) Thomson East Coast Line Due 2023 |
km km km |
| Bus Stop | CP B1 (Bus: 401) | km |
| Supermarkets | Fairprice (Esso Mountbatten) Cold Storage (Parkway Parade) Giant (82 Marine Parade Central) Sheng Siong (301 Geylang Road) |
km km km km |
| Shopping Malls | Katong Shopping Centre The Odeon Katong Paramount Shopping Complex Roxy Square Parkway Parade I12 Katong Leisure Park Kallang |
km km km km km km km |
| Education Institutions | Preschool | |
| Montessori For Children (Broadrick Campus) Schoolhouse By The Bay PCF Mountbatten Blk 14 PCF Mountbatten Blk 51 Saint Hilda’s Church Kindergarten Kinderland Preschool (Marine Parade) Tung Ling Kindergarten White Lodge Kindergarten (East Coast) Holy Family Kindergarten Chen Li Kindergarten |
km km km km km km km km km km |
|
| Primary | ||
| Tanjong Katong Primary School Kong Hwa School |
km km |
|
| Secondary | ||
| Chung Cheng High School (Main) Dunman High School Northlight School Tanjong Katong Girls’ School Broadrick Secondary School Tanjong Katong Secondary School |
km km km km km km |
|
| Junior College | ||
| Dunman High School | km | |
| Tertiary | ||
| Singapore Management University | km | |
| International | ||
| Canadian International School (Tanjong Katong Campus) Chatsworth International School (East Campus) |
km km |
|
| Food Centre | Jalan Batu Block 4A Market & Food Centre Old Airport Road Block 51 Market & Food Centre Kallang Estate Fresh Market & Food Centre 84 Marine Parade Central Market & Food Centre Dunman Food Centre |
km km km km km |
| Lifestyle | East Coast Park Chinese Swimming Club Singapore Swimming Club The Eurasian Association Kallang Cricket Ground Kallang Netball Centre Kallang Squash & Tennis Centre |
km km km km km km km |
COMPARE
CDL WON TOP BID FOR CONDO SITE OF FORMER AMBER PARK, EN-BLOC SALES, SHORT DISTANCE TO TANJONG KATONG MRT STATION
1) SINGAPORE - Amber Park, a 200-unit development in Amber Gardens, has been sold in Singapore's latest collective sale to two units linked to City Developments (CDL) for S$906.7 million.
This makes it a record amount garnered in a freehold collective sale in Singapore to date, said marketing agent JLL.
The winning bid also smashes the asking price of S$768 million.
The units involved in the sale were CDL's wholly-owned subsidiary Cityzens Development, and joint-venture partner Hong Realty. Hong Realty is the private real estate arm of the Hong Leong Group, and holds a 20 per cent stake in the project.
Under the 2014 Master Plan, the 213,670 sq ft Amber Park site is zoned for residential use, with a gross plot ratio of 2.8. It may be redeveloped to accommodate a high-rise apartment development of around 24 to 26 storeys, depending on the technical height controls imposed by the relevant authorities.
The successful sale price of S$906.7 million 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. Development charges are not payable for the proposed redevelopment.
"There are not many sites of similar size that are available for redevelopment in the Amber Gardens location, as most of the larger projects have been sold en bloc and redeveloped over the years. Amber Park could possibly be one of the last collective sale sites with a land area above 200,000 sqft in this precinct," noted Mr Tan.
"At this sale price, the owners would expect to receive gross sale proceeds of between S$4.3 million and S$8.3 million each."
Separately, CDL said it is very familiar with the District 15 locale, having developed the existing 200-unit Amber Park itself, which was completed in 1986.
CDL and Hong Realty plan to redevelop the site into a luxury condominium development comprising four 25-storey blocks with close to 800 units and a basement carpark, subject to approval. Most apartments will have a North-South facing orientation, with many units commanding sea views.
CDL chief executive-designate Sherman Kwek noted that the Amber Park tender win marks one of the group's "most significant investment deals in the Singapore residential market in recent years"
"CDL was the original developer for Amber Park in the 1980s and we are honoured to be able to redevelop the site into yet another iconic landmark. In addition to its strong locational attributes, a distinct advantage of this site in Amber Gardens is its freehold status, something that is increasingly rare in Singapore," said Mr Kwek. New Launch- New Amber Park
Source: Straits Times 4th October 2017
CONSORTIUM SUSTAINED LAND WON TOP BID FOR FORMER CONDO SITE IN PARKWAY MANSION FOR REDEVELOPMENT
2) PARKWAY Mansion has been sold at S$146.99 million to SL Capital (3) Pte Ltd, a consortium led by Sustained Land Pte Ltd.
The sale price was 6.5 per cent above the owners' guide price of S$138 million during the tender that was launched on Nov 16. The sale price and an estimated development charge of about S$21 million translate to a land rate of S$1,536 psf per plot ratio. The development charge is payable to the state for the intensification of land use.
Parkway Mansion is a 17-storey freehold development that houses apartments of sizes ranging between 169 square metres and 181 square metres.
Depending on the size of their property, each owner will stand to receive between S$4.5 million and S$4.7 million in gross proceeds upon completion of the sale.
Parkway Mansion is located just 100 metres from the upcoming Tanjong Katong MRT station on the Thomson-East Coast Line which is slated for completion in 2023.
The property had been offered for collective sale twice before this third successful tender.
Tang Wei Leng, managing director of Colliers International, which serves as marketing agent for this collective sale, said that SL Capital (3) has submitted the highest unconditional offer.
The 3,620.9-square-metre site occupied by Parkway Mansion has a gross plot ratio of 2.8, with a potential total gross floor area of 10,138.5 square metres.
UOL GROUP WON TOP BID FOR LAND PARCEL OF EX-NANAK MANSIONS ALONG MEYER ROAD THROUGH COLLECTIVE SALES
3) UOL has announced its third land acquisition since 2016 with the en-bloc purchase of Nanak Mansions on Meyer Road for S$201m (S$1,429 psf ppr including estimated development charge). The acquisition was made via a 50:50 joint venture with Kheng Leong.
The price is only marginally above (1.3%) the price for The Albraca (first en-bloc sale at Meyer Road) and only S$1m more than the reported asking price. The relatively smaller freehold land site could potentially accommodate close to 204 new units. The estimated breakeven price is close to S$2,000psf, which is above the recent average transacted prices at Meyer Road of S$1,600psf to S$1,700psf.
Nanak Mansions, located at 92-128 Meyer Road, occupies an area of about 10,185 square metres. The freehold site, with a gross plot ratio of 1.4 based on 2014 Master Plan, is earmarked for residential development.
The bid from UOL's associate, Secure Venture Development (No.1) Pte Ltd, was accepted on Thursday by all the subsidiary proprietors of the units in the development.
Secure Venture Development (No. 1) will pay up 10 per cent of the consideration, including the S$1 million tender fee paid on bid submission, within seven business days from the acceptance of the offer. The other 90 per cent of the purchase consideration will be paid up on legal completion of the deal.
Secure Venture Development (No.1) is a 50:50 joint-venture (JV) company between UOL Venture Investments Pte Ltd and Kheng Leong Co (Pte) Ltd.
The JV company will re-develop the freehold site acquired and also acquire a private road of about 910 square metres next to the property, if the subsidiary proprietors of Nanak Mansions and their associates exercise a put option.
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