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4 Land Sites Sold for
New and Upcoming Condos in
Hougang and Serangoon North Ave 1

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PROJECT DETAILS

 
 

Four land parcel sites, along Hougang Avenue 2, Hougang Avenue 7 and Serangoon North Avenue 1,  located in the North-East Region of Singapore were sold for new and upcoming Condo developments, were sold through collective sales and Government Land Sales (GLS) in the 4th quarter of 2017.


Logan Property won the collective sales at Florence Regency. This site is bounded by Hougang Avenue 2, Upper Serangoon Road and Florence Road. It has a site area of 389,286 square feet. It won the top bid of S$629 million. The land price works out S$842 psf ppr that include the premium of S$288.6 million to top up the lease a fresh 99 years and for the redevelopment of the site to a plot ratio of 2.8.


Oxley-Lian Beng Venture Ptd Ltd, a joint venture between Oxley Holdings, KKSH Developments, Apricot Capital and Lian Beng Group won the top bid of the site of Rio Casa. It has a land site area of 396,231 square feet. With a gross plot ratio of 2.8, this river fronting housing development is expected to yield between 1,400 residential apartments. The sales price will translate to about S$706 psf per plot ratio with an additional differential premium of around S$208 million to top up the lease from a 73 years lease remaining to a fresh 99 years and for redevelopment of the site to the gross plot ratio of 2.8 and intensification of the 396,231 sqft of land. The estimated breakeven amount is likely to be around S$1,100 psf. Hence, the approximate selling price of the new units, will be averaging between S$1,400psf and S$1,600psf.


Oxley concortium won the top bid of for the site at Serangoon Ville. It has a site area of 296,913 square feet, with a gross plot ratio of 2.8. The sales price will translate to about S$835 per square feet per plot ratio which include the potential premium of S$195 million to top up the lease from 69 years to a fresh 99 years and for redevelopment of the site to the gross plot ratio of 2.8. The estimated breakeven amount is likely to be around S$1300 psf. Hence, the approximate selling price of the new units, will be more than S$1400 psf.


Keppel Land and WingTai Holdings won the top bid for the GLS site at Serangoon North Avenue 1. It has a site area of 462,561 square feet.

 

Other developments that are near to New Condo at Hougang include The Scala, Midtown Residences, Waterwoods, Kovan Regency, Bliss @ Kovan, Kovan Residences, The Tembusu and Kovan Melody.


New Condo at Hougang- Connectivity
New Condo at Hougang is strategically located short distance 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 Hougang future residents whether to travel to downtown Singapore or rest of the island. For drivers, New Condo at Hougang 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 condo at Hougang.

 

New Condo at Hougang- Amenities
With the Town Centre just a stone’s throw away, New Condo at Hougang 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 Hougang 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- Education
Many schools are also located short distances away from New Condo at Hougang, 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 Hougang.


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Project  Hougang Avenue 2 New Condo at former site of Florence Regency
Developer  Logan Property Company
Location  Hougang Avenue 2 (Hougang Planning Area)
District  19
Tenure  99 years lease
Site Area  36,160 square metres /389,236 square feet
GFA:
Plot Ratio  2.8
Expected TOP:
Total Units  Approximately 1,000 residential apartments
Total Carpark
Development  Private condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC, SPR and Foreigners can buy
 
 
Project  Hougang Avenue 7 New Condo- Former site of Rio Casa
Developer  Oxley-Lian Beng Pte Ltd
Location  Hougang Avenue 7 (Hougang Planning Area)
District  19
Tenure  99 years lease
Site Area  36,811 square metres/ 396,231 square feet
GFA:  103,070 square metres/ 1,109,447 square feet
Plot Ratio  2.8
Expected TOP:
Total Units  Approximately 1,400 residential apartments
Total Carpark
Development  Private condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC, SPR and Foreigners can buy
 
 
Project  New Condo site at Former site of Serangoon Ville
Developer  Oxley Serangoon
Location  Serangoon North Avenue 1 (Serangoon Planning Area)
District  19
Tenure  99 years leasehold
Site Area  27,517 square metres/ 296,193 square feet
GFA:
Plot Ratio  2.8
Expected TOP:
Total Units  Approximatley x,xxx residential apartments
Total Carpark
Development  Condo comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy
 
 
Project  Serangoon North Avenue 1 New Condo- One
Developer  Keppel and WingTai Holdings
Location  Serangoon North Avenue 1 (Serangoon Planning Area)
District  19
Tenure  99 years lease
Site Area  17,188 square metres/ 185,022 square feet
GFA:
Plot Ratio  2.5
Expected TOP:
Total Units  Approximately 505 residential apartments
Total Carpark
Development  Private condominiums comprising of communal facilities
Unit Type:
Architect
Eligibility SC, SPR and Foreigners can buy

LOCATION MAP and AMENITIES

Florence-Regency

Amenities Near New Condo at Hougang

Category Important Amenities Near New Condo at Hougang Approximate Distance
Train Stations Hougang (NE14) km
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)
km
km
km
Supermarkets Fairprice (Hougang Mall)
Giant (683 Hougang Avenue 8)
Prime (106 Hougang)
Sheng Siong (19 Serangoon North)
km
km
km
km
Shopping Malls The Midtown (U/C)
Hougang Mall
Kang Kar Mall
Heartland Mall
Hougang Green Shopping Mall
Hougang 1
km
km
km
km
km
km
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

km
km
km
km
km
km
km
km
km
km

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
km
km
km
km
km
km
km
km
km
km
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
km
km
km
km
km
km
km
km
Junior College
Serangoon Junior College km
Tertiary
Nanyang Polytechnic km
International
DPS International School km
Food Centre Kovan Hougang Market & Food Centre
Hougang Avenue 1 Block 105 Market & Food Centre
km
km
Lifestyle Hougang Sports Hall
Punggol Park
km
km

FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE

The Facilities and Site plan of new condos launch at Hougang are currently seeking approval from relevant authorities. 

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HOUGANG OVERVIEW

Master Plan- Hougang 1

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.

Master Plan- Hougang

New Condo at Hougang- 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-  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- 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.

LAND PARCEL SITE ALONG HOUGANG AVENUE 2 FORMER FLORENCE REGENCY SOLD TO LOGAN PROPERTY THROUGH COLLECTIVE SALES

1) The sale, which came after an earlier attempt stalled, will see each owner of the 336-unit development in Hougang getting between S$1.84-$1.89 million, said marketing agent JLL on Friday (Oct 20).

An initial en-bloc tender ran into difficulty after a bidder met the reserve price of S$620 million, but refused to match the valuation of S$629 million. Two other bidders did not meet the reserve price. Under the terms of the collective sale agreement, the sale price could not be lower than the valuation, and the tender closed late last month without any of the bidders matching the valuation.

This prompted JLL to look for other developers who were willing to meet the valuation price. The sale was finally closed under private treaty with Logan Property, which means that the price was negotiated directly between the sellers and buyer.

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, said JLL.

The Florence Regency deal comes amid a flurry of successful collective sales over the past few weeks.

On Monday, freehold development Changi Garden was sold for S$248.8 million – close to 30 per cent higher than the asking price – to CEL Real Estate Development, which beat eight other bidders to win the tender.

The estate, which is more than 30 years’ old, is located at the junction of Upper Changi Road North and Jalan Mariam. Each of the 60 apartment owners in the development will net between S$2.14 million and S$2.27 million, while the 12 penthouse owners will receive between S$4.03 million and S$4.74 million. For the 12 shop owners, their gains are expected to be between S$4.7 million and S$7.08 million.

Earlier this month, Normanton Park, near Kent Ridge, was sold for S$830.1 million. A day earlier, on Oct 4, Amber Park, a 200-unit freehold development in the east, went for S$906.7 million – a record for a freehold property sold en bloc.

By some estimates, en bloc sales in 2017 are headed for a 10-year high as developers look to beef up their land banks in anticipation of an upturn in the property market.

SINGAPORE — In the latest in a slew of successful collective sales in Singapore, privatised HUDC estate Florence Regency has been sold for S$629 million to Chinese developer Logan Property Company.

FORMER HUDC RIO CASA SITE SOLD TO OXLEY-LIAN BENG VENTURE THROUGH EN-BLOC SALES

2) SINGAPORE - Rio Casa, a privatised HUDC estate, has been sold for S$575 million to a joint venture company Oxley-Lian Beng Venture.

The JV partners are KSH Development, Oxley Holdings, Lian Beng Group and Apricot Capital.

KSH Holdings said on Thursday (May 25) that the JV firm intends to apply for the grant of a fresh 99-year lease for the property and to redevelop the site. To develop the site, the buyers intend to apply to top up the lease to a fresh 99 years, at an additional estimated differential premium of S$208 million that's payable to the state, subject to the authorities' approval. 

The river-fronting estate along Hougang Avenue 7 was put up for collective sale in April, after more than 80 per cent of the owners agreed to the en bloc sale. 

Rio Casa in Hougang Avenue 7 comprises seven blocks of 286 apartment and maisonette units. It has a site area of 36,811.1 square metres.

Under the Master Plan 2014, the site is zoned for residential use with a gross plot ratio of 2.8. This works out to a maximum permissible gross floor area of about 1.1 million square feet.

Each owner stands to receive a gross sale price of about S$2 million upon the successful completion of the sale, which is subject to several conditions being met, including an order of sale by the Strata Titles Board or Court Approval, said Knight Frank. 

KSH Holdings, which has a 35 per cent stake in the JV, said it will fund its portion of the cost of the purchase by internal resources and bank borrowings.

Oxley Holdings holds a 35 per cent interest, Lian Beng Group at 20 per cent and Apricot Capital at 10 per cent.

Brisk new home sales and the recovering sentiment in the residential property market have fueled demand for development sites among developers.

FORMER LAND PARCEL SITE AT SERANGOON VILLE SOLD TO OXLEY CONSORTIUM

3) Privatised HUDC estate Serangoon Ville in Serangoon North Avenue 1 has been sold to an Oxley Holdings-led consortium for $499 million, as collective sale fever grows even hotter.

The price is well above the $400 million to $430 million the owners had been expecting when the property was put on the market last month.

The sale marks the sixth collective deal so far this year - already double the three deals in all of last year and is the third former HUDC project to succeed in the collective sale market this year.

The buyer, joint venture firm Oxley Serangoon, comprises partners including Oxley Holdings, Lian Beng Group, Apricot Capital and entities of KSH Holdings and Heeton Holdings.

The consortium also has to pay $195 million in estimated charges to top up the lease to 99 years and intensify the land use.

The additional charges and purchase price work out to a land rate of $835 per sq ft per plot ratio, noted marketing agent ERA Realty Network.

"We saw very competitive bidding involving more than five bidders. All of them offered prices above what the owners had asked for," Mr Stanley Koo, ERA division director, told The Straits Times.

Serangoon Ville comprises 244 apartments and maisonettes across seven blocks, with sizes ranging from 1,625 sq ft to 1,733 sq ft.

Each owner will receive about $2 million from the sale - much higher than the $1.6 million to $1.7 million they had hoped for earlier.

Sitting on a 296,913 sq ft triangular-shaped plot, it was privatised in 2014 and has 69 years of its lease left. It is near the Australian International School and the popular Rosyth School.

KEPPEL LAND and WINGTAI HOLDINGS WON HIGHEST BID FOR GLS LAND PARCEL SITE IN SERANGOON NORTH AVENUE 1

4) SINGAPORE - The public tender for a private residential site in Serangoon North Avenue 1 attracted 16 bids.

Corson and Wingjoy Investment - units of Keppel Land and Wing Tai Holdings - jointly placed the top bid of $446.28 million, the Urban Redevelopment Authority (URA) said on Thursday (July 27).

The price works out to about $964.8 per sq ft per plot ratio for the 99-year leasehold plot, which could yield 505 private homes.

The top bid was about 6.6 per cent higher than the second of $418.7 million tabled by FCL Residences.

Singland Homes and UOL Venture Investments jointly submitted the third highest bid at $417.2 million.

The site has a land area of 17,189.1 sq m and permissible gross floor area of 42,973 sq m.

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