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2 Land Sites sold for
Condo Redevelopments

Former En-Bloc sites of 
- Chancery Court and 
- Dunearn Gardens

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PROJECT DETAILS

 
 

New Condo at Newton is approximately 500 m away from Novena Train Station where its future residents will be able to access to the North South Line Services. The Newton Train Station, which is approximately 600 m away, will provide another conduit of conveniences for New Condo at Newton's future residents when the Downtown Line services come into operation in 2016. Come 2021, New Condo at Newton’s future residents can also easily transit to the Thomson Line service at the Orchard Train Station which is 1 station away from Newton Station. For those driving, New Condo at Newton is approximately 7 minutes away from the Central Business District (CBD) and Orchard Road is just a mere 4 minutes’ drive away. 26 Newton is also well linked to the Central Expressway (CTE) and the Pan Island Expressway (PIE) which allow breeze driving to any parts of Singapore.

 

When it comes to amenities such as retail, eating, leisure and entertainment facilities, New Condo at Newton's future residents will find it within their reach as the United Square Shopping Mall, Novena Square and Square 2 is just a stone’s throw away. For more choices, New Condo at Newton's future residents can also head down to the nearby Orchard Shopping District that is located less than 1.4 km away. In terms of local delights, 26 Newton’s future residents can head down to one of the food centres within its vicinity such as Newton Food Centre, Pek Kio Market And Food Court Centre, Tekka Market, Whampoa Drive Market & Food Centre and Berseh Food Centre.

 

Local schools that are nearby to New Condo at Newton are Saint Joseph’s Institution Junior, Anglo-Chinese Junior School, Anglo-Chinese Primary School, Farrer Park Primary School, Balestier Hill Primary School, Saint Margaret’s Primary School, Singapore Chinese Girls’ School, CHIJ Primary School, Hong Wen School, Anglo-Chinese School (Barker Road), Balestier Hill Secondary School, Raffles Girls’ Secondary School, CHIJ Secondary School and also Catholic Junior College.


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Project  New Condo at Dunearn Road, former site of Chancery Court
Developer  To be announced
Location  Dunearn Road
District  11
Tenure  99 years leasehold
Site Area  24,074 square metres/ 259,134 square feet
GFA:
Plot Ratio
Expected TOP:
Total Units  Approximately residential apartments
Total Carpark
Development  Private condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC, SPR and Foreigners can buy
 
Project  New Condo Dunearn Road at former site of Dunearn Gardens
Developer  EL Development, Evan Lim Group
Location  Dunearn Road, Bukit Timah Road
District  11
Tenure  Freehold
Site Area  8,866.9 square metres/ 95,442 square feet
GFA:
Plot Ratio
Expected TOP:
Total Units  Approximatley  residential apartments
Total Carpark
Development  Private Condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC/ SC, SC/SPR and Foreigner can buy

LOCATION MAP and AMENITIES

FACILITIES SITE PLAN E-BROCHURE

The Facilities and Site plan of new condo launch at Newton Road are currently seeking approval from relevant authorities.

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RESIDENTIAL FLOOR PLANS E-BROCHURE

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AVAILABLE UNITS/ SOLD/ CHEAPEST PRICES PSF

CHANCERY COURT SOLD FOR S$401.78 MILLION EN BLOC SALES

1) CHANCERY Court, a privatised HUDC estate across the road from Anglo-Chinese School (Barker Road), has fetched S$401.78 million in a collective sale tender or 6 per cent higher than its reserve price, its sole marketing agent OrangeTee Advisory said on Thursday.

The winning bid for the Dunearn Road site translates to a land price of about S$1,610 per square foot per plot ratio (psf ppr), after factoring in a differential premium and lease upgrading premium of some S$182.4 million. This is to redevelop the site to a gross plot ratio (GPR) of 1.4, based on the maximum permissible gross floor area (GFA) of 362,788 sq ft, and to top up the lease to a fresh 99 years.

The estate comprises a 16-storey tower block and seven blocks of four-storey walk-up maisonettes on a site area of approximately
259,134 sq ft.

The owners of the 136 apartments and 8 commercial units stand to receive a gross sale proceeds of S$1.8 million to S$3.5 million and S$934,000 to S$4.7 million respectively.

The 99-year leasehold site in prime District 11 is also a five-minute walk to Newton MRT station, near landed estates and Good Class Bungalows, within 1km of St Joseph's Institution Junior and less than 2kmof Singapore Chinese Girls' Primary School.

Subject to authorities’ approval, the site can be redeveloped into a 5-storey residential development with a maximum of 481 units, based on average size of 70 square metres, said OrangeTee Advisory.

"A pre-application feasibility study on traffic impact was commissioned by us and it has provided certainty to developers during the bidding process," said the firm.

It added that the recent collective sale sites sold along Bukit Timah Road, Dunearn Road and Balmoral Road have exhibited developers’ confidence in the prime locality.

Source: Business Times

EL DEVELOPMENT WON TOP BID FOR DUNEARN GARDENS THROUGH EN BLOC SALES

2) SINGAPORE — Dunearn Gardens has been sold collectively for S$468 million to a fully owned subsidiary of EL Development.

Announcing the sale of the 114-unit freehold residential development off Newton Road on Monday (April 23), Knight Frank said a development charge of approximately S$43.6 million is payable to redevelop the site to a gross plot ratio of 2.8 based on the maximum permission gross floor area of approximately 267,239 sq ft. This translates to a land price of approximately S$1,914 per sq ft per plot ratio (psf ppr).

However, taking into account a 10 per cent bonus balcony, which will bring the proposed plot ratio to 3.08, the land price works out to approximately S$1,841 psf ppr, subject to the authorities’ approval.

The 95,442 sq ft development comprises three adjoining residential blocks ranging from 75 sq m to 306 sq m. This is its third attempt at a collective sale.

Each owner stands to receive between S$2.69 million and S$7.98 million from the sale.

EL Development’s managing director Lim Yew Soon said: “We intend to redevelop the site into a 34-storey luxury condominium comprising 348 units of one- to four-bedroom units.”

Knight Frank’s executive director and head of investment and capital markets Ian Loh expects the new development to appeal to owner-occupiers as well as investors “given its choice location right at the city fringe”.

Earlier this month, global real estate services company Colliers International predicted that the total value of this year’s en-bloc sale transactions is likely to trump that of 2017 — which was S$8.13 billion from 27 transactions.

Its data showed that 17 successful residential en bloc sales, valued at S$5.83 billion, had already been chalked up in the first three months of this year, amounting to over 70 per cent of the total value of collective sale deals for the whole of last year.

This month, besides Dunearn Gardens, other en bloc deals included the sale of Farrer Road freehold development Tulip Garden for S$906.9 million, the second-largest en bloc sale for the year.

Source: Todayonline

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