PROJECT DETAILS
One Tree Hill Gardens was sold to Lum Chang Group for S$65 million in 2nd quarter of 2017. This translates to a land rate of S$1,664 per square foor (psf), based on the site area of 39,063 sqft.
The owners will get S$4.3 million to S$9.1 million each depending on the size of their properties. This is about 60% above market value for the individual units.
Landed homes in this area is hard to come by and the site is zoned for Residential, 2-storey semi-detached under the 2014 master plan and Lum Chang Group intends to redevelop it to either 8 semi detached homes plus 5 bungalows or 10 semi-detached homes plus 3 bungalows for sale, to suit the needs and tastes of individual buyers.
One Tree Hill Gardens is a freehold three-storey residential development with six maisonettes and seven apartments, with sizes tanging about 1,196 sqft to 4,682 sqft. It sits on a 39,063 sq ft site located at the junction of One Tree Hill and Jalan Arnap. it enjoys easy access to Orchard Road and is within 300 metres from the upcoming Orchard Boulevard MRT Station on the Thomson East-Coast Line.
Lum Chang's last residential development projects in Singapore were two executive condominium projects which it jointly developed with Frasers Centrepoint Limited, namely, Twin Fountains (launched in 2013) and Esparina Residences (2010).
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| Project | One Tree Hill New Landed |
| Developer | Lum Chang Group |
| Location | One Tree Hill |
| District | 10 |
| Tenure | Freehold |
| Site Area | 36,291 square metres/ 390,363 square feet |
| GFA: | |
| Plot Ratio | |
| Expected TOP: | |
| Total Units | |
| Total Carpark | |
| Development | Landed housing |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR/ Foreigner can buy |
LOCATION and AMENITIES
FACILITIES and SITE PLAN E-BROCHURE
RESIDENTIAL FLOOR PLANS E-BROCHURE
ONE TREE HILL GARDENS SOLD TO LUM CHANG GROUP FOR S$65 MILLION THROUGH COLLECTIVE SALES
The collective sale market, which saw a resurgence last year, is still firing with the sale of One Tree Hill Gardens for $65 million - the first such deal this year.
Marketing agent Knight Frank said yesterday that a unit of Lum Chang Group bought the freehold landed residential redevelopment site near Orchard Road.
The price works out to a land rate of about $1,664 per sq ft, it added.
"The development received considerable interest from developers and contractor-developers, as this is the only sizeable landed redevelopment site within close vicinity of Orchard Road," said Mr Ian Loh, Knight Frank Singapore's head of investment and capital markets.
Although the sale price fell markedly short of the $72.8 million guide price when the site was put on the market in January, owners still made a substantial gain.
Mr Loh said owners will get $4.3 million to $9.1 million each, depending on the size of their properties. "It is about 60 per cent above open market value for the individual unit," he told The Straits Times.
One Tree Hill Gardens comprises six maisonettes and seven apartments, with sizes ranging from about 1,916 sq ft to 4,682 sq ft.
The freehold site with a land area of 39,063 sq ft is zoned for two-storey semi-detached residential use under the 2014 master plan.
Knight Frank says it could be redeveloped into eight semi-detached homes plus five bungalows, or 10 semi-detached homes plus three bungalows.
The collective sale market is set to stay active this year amid more positive sentiment. Last month, the 330-unit Eunosville and 286-unit Rio Casa were put up for sale.
"We are seeing a lot more en bloc inquiries from home owners... But I expect developers to remain selective and price sensitive," Mr Loh noted.
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