PROJECT DETAILS
Florence Regency, former HUDC (Housing and Urban Development Company) estate in Hougang Avenue 2 is sold for S$629 million to Logan Property Company. After factoring in differential premiums of $288.6 million to top up the lease to another 99 years and to develop the 389,236 sq ft site at Hougang Avenue 2, the land price translates to about S$842psf per plot ratio.
Florence Regency will be redeveloped to Florence Residences Read More HERE
Other developments that are near to former site of Florence Regency include Midtown Residences, Waterwoods, Kovan Regency, Bliss @ Kovan, Kovan Residences, The Tembusu and Kovan Melody.
New Condo at Hougang Avenue 2- En-Bloc Sales of Florence Regency- Connectivity
New Condo at former site of Florence Regency is strategically located just approximately 400 m away from Hougang Town Centre which host the Hougang Train Station and also the Hougang Bus Terminal. Its future residents can effortlessly access to the many bus services and also the North East Line Train Services. This complete public transport system will provide a conduit of fast and efficient travel for New Condo at former site of Florency Regency's future residents whether to travel to downtown Singapore or rest of the island. For drivers, New Condo at former site of Florency Regency is approximately 9 minutes away and it will also take around 13 minutes to reach the Central Business District (CBD). Together with the nearby Kallang Paya Lebar Expressway (KPE) and the Tampines Expressway (TPE), drivers will find it a breeze to drive to any parts of the island from new site at former Florence Regency.
New Condo at Hougang Avenue 2- En-Bloc sales of Florence Regency- Amenities
With the Town Centre just a stone’s throw away, New Condo at former site of Florence Regency's future residents will get to enjoy daily conveniences in terms of their daily shopping, dining and leisure needs with the shopping malls available such as Hougang Mall and Kang Kar Mall. The Midtown, a mixed development comprises of retail space will add more options to New Condo at former site of Florence Regency's residents when it is completed. For local food stalls and wet market produce, the nearby Kovan Hougang Market & Food Centre and Hougang Avenue 1 Block 105 Market & Food Centre will provide residents with a wide array of selections available.
New Condo at Hougang Avenue 2- En-Bloc sales of Florence Regency- Education
Many schools are also located short distances away from New Condo at former site of Florence Regency, providing the education needs for its residents’ young children. Schools such as Holy Innocents’ Primary School, Montfort Junior School, CHIJ Our Lady Of The Nativity, Xinghua Primary School, Xinmin Primary School, Punggol Primary School, Yio Chu Kang Primary School, Hougang Primary School, North Vista Primary School, Palm View Primary School, Holy Innocents’ High School, Montfort Secondary School, Xinmin Secondary School, Yuying Secondary School, Serangoon Secondary School, Hougang Secondary School, North Vista Secondary School, Bowen Secondary School and Serangoon Junior College are less than 2 km away from New Condo at former site of Florence Regency.
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| Project | New Condo at Hougang Avenue 2- Florence Regency En-Bloc sales |
| Developer | Logan Property |
| Location | Hougang Avenue 2 |
| District | 19 |
| Tenure | 99 years leasehold |
| Site Area | 36,160 square metres/ 389,236 square feet |
| GFA: | square metres/ square feet |
| Plot Ratio | 2.8 |
| Expected TOP: | |
| Total Units | Approximately 1,400 residential apartments |
| Total Carpark | |
| Development | Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR and Foreigner can buy |
| Hougang Avenue 2 New Condo Unit Mix Distribution | |||
|---|---|---|---|
| Unit Type | Type | Area (Square Feet) | Total No. of Units |
| 1 Bedroom | TBA | TBA | TBA |
| 2 Bedroom | TBA | TBA | TBA |
| 3 Bedroom | TBA | TBA | TBA |
| 4 Bedroom | TBA | TBA | TBA |
| 5 Bedroom | TBA | TBA | TBA |
| Penthouse | TBA | TBA | TBA |
| Hougang Avenue 2 New Condo Facilities | |||
TBA
|
|||
| Hougang Avenue 2 New Condo Price List | |||
|---|---|---|---|
| Unit Type | Area (Square Feet) | Pricing | PSF |
| 1 Bedroom | TBA | TBA | TBA |
| 2 Bedroom | TBA | TBA | TBA |
| 3 Bedroom | TBA | TBA | TBA |
| 4 Bedroom | TBA | TBA | TBA |
| 5 Bedroom | TBA | TBA | TBA |
| Penthouse | TBA | TBA | TBA |
LOCATION MAP and AMENITIES
Amenities Near New Condo at former site of Florence Regency
| Category | Important Amenities Near New Condo at former site of Florence Regency | Approximate Distance |
| Train Stations | Hougang (NE14) | 0.3km |
| Bus Stop | Naung Ct (Bus: 132, 136, 153, 51, 72, 80, 101, 119, 325) Blk 302 (Bus: 51, 72, 80, 101, 119, 325, 132, 136, 153) Nativity Ch Ctr (Bus: 51, 72, 80, 101, 119, 136, 153) |
0.1km 0.2km 0.2km |
| Supermarkets | Fairprice (Hougang Mall) Giant (683 Hougang Avenue 8) Prime (106 Hougang) Sheng Siong (19 Serangoon North) |
0.5km 0.9km 1.5km 2.4km |
| Shopping Malls | The Midtown (U/C) Hougang Mall Kang Kar Mall Heartland Mall Hougang Green Shopping Mall Hougang 1 |
0.4km 0.5km 0.5km 1.3km 1.4km 1.7km |
| Education Institutions | Preschool | |
| The Montessori Playroom Kindergarten PCF Hougang Blk 328-708 PCF Paya Lebar Blk 23 PCF Bedok Reservoir-Punggol Blk 508 PCF Bedok Reservoir-Punggol Blk 414 Masjid En-Naeem (Kindergarten) Nativity Church Kindergarten PCF Punggol South Blk 535-542 JENIUS Kindergarten PCF Punggol South Blk 452 |
0.4km 0.5km 0.7km 0.7km 0.8km 0.8km 0.9km 1.0km 1.1km 1.3km |
|
| Primary | ||
| Holy Innocents’ Primary School Montfort Junior School CHIJ Our Lady Of The Nativity Xinghua Primary School Xinmin Primary School Punggol Primary School Yio Chu Kang Primary School Hougang Primary School North Vista Primary School Palm View Primary School |
0.2km 0.7km 0.8km 1.1km 1.1km 1.1km 1.3km 1.7km 1.7km 1.8km |
|
| Secondary | ||
| Holy Innocents’ High School Montfort Secondary School Xinmin Secondary School Yuying Secondary School Serangoon Secondary School Hougang Secondary School North Vista Secondary School Bowen Secondary School |
0.5km 0.8km 1.2km 1.2km 1.3km 1.6km 1.6km 1.7km |
|
| Junior College | ||
| Serangoon Junior College | 0.6km | |
| Tertiary | ||
| Nanyang Polytechnic | 5.1km | |
| International | ||
| DPS International School | 1.8km | |
| Food Centre | Kovan Hougang Market & Food Centre Hougang Avenue 1 Block 105 Market & Food Centre |
1.2km 1.5km |
| Lifestyle | Hougang Sports Hall Punggol Park |
0.6km 1.3km |
FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE
The Facilities and Site plan of new condo launch at the former site of Florence Regency, along Hougang Avenue 2 are currently seeking approval from relevant authorities.
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HOUGANG OVERVIEW
Hougang is a mature town with good schools and a variety of parks and sports facilities. Over the next few years, residents will be able to enjoy more community facilities and recreational options and to have access to more jobs near home. There are also plans to showcase the town's rich history and heritage sites.
New Condo at Hougang Avenue 2, former site of Florence Regency- Gracious living in a heritage town
Various initiatives will be implemented to enhance the overall living environment and to strengthen the residents' connection with local history. These include:
- A One-stop community club with hawker centre, a health-care facility and an arts centre, located at Hougang Avenue 9
- An Estate- Upgrading Programme a new pedestrain footbridge across Sungei Punggol at the Gerald-Mugliston Estate
- More retail amenities at Kovan, Hougang Central, Hougang Avenue 7, Buangkok Drive and Jalan Pelikal
- A new nursing home to serve the needs of elderly residents at Hougang Avenue 8
New Condo at Hougang avenue 2, former site of Florence Regency- Leisure- Greener than ever
Residents in Hougang will have easy access to many major parks in the North-Eastern Region via the North-Eastern Riverine Loop (NERL) park connectors. When the NERL eventually becomes part of the 150km long Round Island Route, recreation sites farther afield will be even more accessible, such as the Changi Coastal Loop. As the green network expands in future, most homes in Hougang will be closer to parks or park connectors. These include:
- New neighbourhood parks within Kovan Estate
- A park at the future Lorong Halus Industrial Park
- An expanded Punggol Park
- An extended park connector at Hougang Avenue 3 to link up with the Pelton Canal park connector, providing easier access to Kallang Riverside.
- New interim sports facilities at the Jalan Kayu Sports Hub at Buangkok Crescent
- Enhancements to the canal at Hougang Avenue 10 through new landscaping with outlook decks, shelters and seatings
New Condo at Hougang Avenue 2, Former site of Florence Regency- More transport infrastructure- Better roads with better rides
Hougang is well connected to other parts of Singapore via public transport. Getting around will become much easier with trasnport improvements to smoothen traffic flow and improve accessibility. These include:
- A New Integraged transport hub in Hougang MRT Station
- Road improvements along Upper Serangoon Road, Upper Paya Lebar Road, Tampines Road, Lorong Ah Soo and Hougang Central
- Extension of Buangkok Link and Buangkok Crescent to complete the local road network
- Construction of the Cross Island Line which will pass through Hougang when it starts operations by 2030 and provides another direct MRT route to Changi and the west as well as other major towns.
LOGAN PROPERTY WON TOP BID FOR CONDO SITE AT FLORENCE REGENCY FORMER HUDC EN-BLOC AT HOUGANG AVENUE 2
Florence Regency has finally closed a collective sale under private treaty after Chinese developer Logan Property (Singapore) agreed to match the independent valuation of $629 million for the property in Hougang Avenue 2.
Each owner will receive gross proceeds of between $1.84 million and $1.89 million.
Owners of the 336-unit former HUDC estate had earlier received a bid from Chinese developer Kingsford that exceeded the reserve price of $600 million and two that did not, according to Mr Jagir Singh Touwana, chairman of the collective sale committee.
But none of the offers had met the $629 million valuation by independent valuer Colliers International. The tender closed on Sept 27, with the three bidders refusing to match the valuation.
The collective sale agreement required that the sale price be no lower than the valuation.
This prompted sole marketing agent JLL to woo other developers, in an attempt to close the deal under private treaty within 10 weeks of the close of the tender.
Had no buyer been found, the owners would have had to plan another public tender exercise in January.
"We are relieved it is finally over. Given the circumstances and today's market, it is a good price and a fair amount. Everyone hopes for a lot of money, but we have to be realistic," said Mr Touwana, who is also a home owner there.
The 389,236 sq ft site in Hougang is zoned residential with a gross plot ratio of 2.8, and could yield around 1,000 units.
The land price works out to $842 per sq ft (psf) per plot ratio after factoring in the estimated differential premiums of $288.6 million to top up the lease to a fresh 99 years and to develop the site to the gross plot ratio of 2.8.
It is the second site that has been snapped up by Hong Kong-listed Logan Property, which made history in May when, together with Chinese developer Nanshan Group, it put in the top bid of $1.003 billion for the 21,109 sq m site in Stirling Road. That was the first time that a purely residential site in the Government Land Sales programme had crossed the billion-dollar mark.
"Florence Regency is one of the last few privatised HUDC (estates) in the north-east region. The future development will enjoy unblocked views, located next to landed housing estates and across the Hougang Stadium and the sports and swimming complex," said Mr Tan Hong Boon, JLL's regional director.
ZACD Group executive director Nicholas Mak said that the land rate is fairly reasonable, noting: "It is a bit cheaper, compared with Serangoon Ville, which was sold at the land rate of $861 psf ppr, and the Government Land Sales site in Serangoon North Avenue 1 sold at $965 psf ppr in July."
Dr Lee Nai Jia, head of research at Edmund Tie & Company, expects to see more interest in Serangoon, which is part of the upcoming Bidadari housing estate. That should create a lot of excitement in the area, he said.
The site is located near Hougang and Kovan MRT stations along Upper Serangoon Road, the bus interchange and Hougang Mall.
Florence Regency's sale brings the total number of former HUDC estates that have been sold en bloc since 2005 to 12, according to consultants. Ivory Heights is on the market, while Braddell View, Pine Grove, Laguna Park and Chancery Court have started the process.
Source: Straits Times 21th October 2017
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