A Successful En-Bloc of Tulip Garden

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YanLord Land Group and MCL

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PROJECT DETAILS

 
 

Tulip Gardens, located in along Farrer Road, bounded by Holland Road and Leedon Heights, Core Central Region of Singapore, has been sold to YanLord and MCL Land, through a collective sales, in the 2nd quarter of 2018, for S$907 million. The sales price will translate to about a land rate of S$1,789 psf per plot ratio.

tulip-garden

YanLord and MCL Land submitted the top bid of S$907 million for Tulip Gardens, this translates to a land rate of S$1789 psf ppr.


Other developments that are sold en-bloc within the vicinity include The Wilshire, Olina Lodge, Too Mansions, The Estoril and Hollandia.


Consortium Tong Eng and Roxy Group submitted the top bid of S$98.8 million for The Wilshire, this translates to a land rate of S$1643 psf ppr


Far-East submitted the top bid of S$223.9 million for The Estoril, this translates to a land rate of S$1654 psf ppr


Far-East Consortium submitted the top bid of S$183.38 million for Hollandia, this translates to a land rate of S$1713 psf ppr

olina lodge on 15, Holland Hill

Peak Opal, a unit of Kheng Leong, submitted the top bid of S$230.9 million for Olina Lodge, this translates to a land rate of S$1712 psf ppr

Toho Mansions on Holland Road

Koh Brothers submitted the top bid of S$120.4 million for Toho Mansions, this translates to a land rate of S$1806 psf ppr 

 

New Residences at Tulip Gardens site is only 400 m away from Farrer Rd Circle Line Station and just 2 stops away from Buona Vista Interchange Station which is very convenient for commuters as the East West Line is easily accessible via the Interchange. For drivers, it is takes only 5 minutes to get to Orchard Road area and 7 minutes to the Central Business District. New Residences at Tulip Garden is also well connected to the Pan Island Expressway (PIE) which leads to parts of Singapore.

 

It is just next door to Empress Market & Food Centre which makes finding food easy. There are more choices as New Condo at Farrer Road is also close to 5 other food centres that are within 2 km distance such as Holland Market & Food Centre, Commonwealth Crescent Market & Food Centre, Adam Road Food Centre, Holland Drive Market & Food Centre, Commonwealth Avenue Food Centre. There are also 3 shopping malls that are less than 1.5 km away from New Residences at Tulip Garden to choose from to get the daily needs.

 

For parents, your child’s education needs will be the last to worry. New Condo at former site of Tulip Garden has quite a number of esteemed schools within 2 km, that range from preschool to Tertiary level. School nearby New Condo at Tulip Garden include Nanyang Primary School, Raffles Girls’ Primary School, New Town Primary School, St Margaret’s Secondary School, Hwa Chong Institution, Queensway Secondary School, Nanyang Girls’ High School, Assumption English School, Hwa Chong Junior College, National Junior College and also tertiary institution i.e. NUS Faculty of Law (Bukit Timah Campus).


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Heart of New Central
Financial District
Marina One Residences

Heart of Tanjong Pagar
Financial District
Wallich Residence with
181 Limited Collection
Super Penthouse at 21,108sqft

Other Developments in
Core Central Region
 
 
 
 
 
Project  New Condo at site of Tulip Garden
Developer  Yanlord Land Group and MCL
Location  Farrer Road
District  10
Tenure  Freehold
Site Area  29,422 square metres/ 316,708 square feet
GFA:        square metres/     square feet
Plot Ratio
Expected TOP:
Total Units  Approximately residential apartments
Total Carpark
Development  Private Condo comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy

LOCATION MAP and AMENITIES

Amenities Near New Condo at former site of Tulip Gardens

Category Important Amenities Near New Condo at former site of Tulip Gardens Approximate Distance
Train Stations Farrer Road (CC20)
Tan Kah Kee (DT8) Due 2015
0.4km
1.1km
Bus Stop Farrer Road Market (B11101)(Bus: 48, 93, 153, 165, 174, 186, 564, 855, 961)
Spanish Village (B11109)(Bus: 48, 93, 153, 165, 174, 186, 564, 855, 961, 5N)
0.2km
0.2km
Supermarkets Cold Storage
Ntuc Fairprice
Shop N Save
Sheng Siong
1.2km
1.2km
1.8km
1.8km
Shopping Malls King’s Arcade
Coronation Shopping Centre
Holland Village
1.0km
1.1km
1.2km
Education Institutions Preschool
Nanyang Kindergarten (King’s Rd)
Nanyang Kindergarten (Coronation Rd)
Global Tots
Maris Stella Kindergarten
Little Wings
Bibinogs
Cherie Hearts
Eton House
Cherrybrook Kindergarten
0.2km
0.5km
0.9km
1.0km
1.3km
1.3km
1.4km
1.7km
1.8km
Primary
Nanyang Primary School
Raffles Girls’ Primary School
New Town Primary School
0.7km
1.6km
1.9km
Secondary
St Margaret’s Secondary School
Hwa Chong Institution
Queensway Secondary School
Nanyang Girls’ High School
Assumption English School
0.7km
1.0km
1.5km
1.6km
1.7km
Junior College
Hwa Chong Junior College
National Junior College
1.0km
1.5km
Tertiary
NUS Faculty of Law (Bukit Timah Campus)
Singapore Polytechnic
1.6km
3.0km
International
Norwegian Supplementary School
United World College Of South East Asia (UWCSEA) – Dover Campus
3.2km
3.8km
Food Centre Empress Market
Holland Market & Food Centre
Commonwealth Crescent Market & Food Centre
Adam Rd Food Centre
Holland Drive Market & Food Centre
Commonwealth Ave Food Centre
0.2km
1.2km
1.2km
1.4km
1.7km
2.0km
Lifestyle Singapore Botanic Gardens
Tanglin Golf Course
Hollandse Club
Archery Club
Queens Town Club
Queenstown Stadium
0.9km
1.7km
1.7km
1.9km
2.0km
2.5km

FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE

The Facilities Site and floor plans of new condo launch in Farrer Road, at former site of Tulip Garden are currently seeking approval from relevant authorities.

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AVAILABLE UNITS/ SOLD/ CHEAPEST PRICES PSF

CHINESE YANLORD LAND GROUP and MCL BOUGHT TULIP GARDEN THROUGH COLLECTIVE SALES

A joint entity of Chinese developer Yanlord Land Group and MCL Land has bought freehold Tulip Garden for $906.9 million - the second biggest collective sale this year.

The price is 20.4 per cent higher than the reserve of $753 million submitted by owners of the 316,708 sq ft estate completed in 1985.

Tulip Garden, comprising 162 apartments and maisonettes and two shop units, is in District 10 and close to Holland Village and a Good Class Bungalow area.

Each residential unit owner could get between $4.3 million and $7.6 million, depending on the size of the home - unit sizes range from 1,701 to 3,412 sq ft.

It is a case of fourth-time lucky for Tulip Garden owners. The development was actually sold in July 2007 during its first try, but the buyer - a consortium led by Bravo Building Construction - backed out after struggling to raise funds amid the developing financial crisis.

Bravo forfeited its 5 per cent deposit of $25.8 million, which the owners kept. Reports suggested at the time that they each stood to reap about $100,000.

This time the process should be far smoother.

Colliers International managing director Tang Wei Leng said: "Despite a spate of collective sale deals done in the Holland Road area in recent months and a large slate of redevelopment sites on the market, the tender for Tulip Garden still attracted very keen interest - a testament to its excellent locational attributes."

The sale price works out to a land rate of $1,790 per sq ft per plot ratio (psf ppr). This is higher than recent collective sales in the area such as the $1,703 psf ppr for Hollandia, the $1,654 psf ppr for The Estoril and $1,536 psf ppr for The Wilshire.

The Tulip Garden site could yield up to 670 residential units with its plot ratio of 1.6, said Yanlord in a Singapore Exchange announcement after trading hours yesterday.

There is no development charge payable for redevelopment up to a gross plot ratio of 1.6, said Colliers.

The acquisition is Yanlord's first venture in Singapore's prime freehold residential property market.

The biggest collective sale deal this year is Pacific Mansion in River Valley, which was acquired by GuocoLand, Intrepid Investments and Hong Realty for $980 million.

Yanlord said the acquisition and development of the project will be financed by internal resources and bank borrowings.

Yanlord Land shares closed two cents up at $1.75, before the announcement was made.

Source: Straits Times 13th April 2018

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