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A Successful En-Bloc in
Raintree Gardens

Brought to You by UOL Group and
United Industrial Corporation (UIC)

A Waterfront Condominium
Between Woodleigh and
Potong Pasir MRT Stations
Potentially 750 Residential Units
catering to Your Requirements!

Please Register HERE for
More Information and Updates!

PROJECT DETAILS

 
 

Raintree Gardens, a former HUDC (Housing and Urban Development Company) estate, along Potong Pasir was sold to UVD (Projects) a joint venture between UOL Group and United Industrial Corporation (UIC) in the 4th quarter of 2016 for S$334.2 million. The owners of the 175 units privatised HUDC development, each got an average of S$1.89 million.

 

Completed in the late 1980s, Raintree Gardens has a land site area of 201,405 square feet, comprises two 12-storey mansionette blocks and one seven-storey mansionette block. With a gross plot ratio of 2.8, this river fronting housing development is expected to yield between 600 and 748 residential apartments. The sales price will translate to about S$797 psf per plot ratio on the potential premium to top up the lease 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$1250psf. Hence, the approximate selling price of the new units, will be averaging to about S$1450psf.

 

The site at Raintree Gardens is in a matured estate which is centrally located and at the same time, with new amenities and infrastructure being planned around it. This includes upcoming communal and commercial developments and amenities at the nearby Bidadari. The new site has an attractive direct unblock river frontage of approximately 200 metres spreading across Kallang River. The site is further enhanced with the connectivity of Kallang Park Connector. It is between Potong Pasir MRT Station and Woodleigh MRT Station, both serving along the North-East Line (NEL).

 

There are shortage of development sites in the market, especially Government had cut back on its land sales programme. With better outlook in the property market, developers are more bullish with their bids. It is the 3rd en-bloc sales of year 2016. The first was sealed in May where the 358 units in Shunfu Ville was sold for S$638 million and another in Harbour View Gardens with 14 units en-bloc for S$33.25 million. There are more than 5 bidders for this site at Raintree Gardens showing more confidence in Singapore property market. UOL and UIC won the top bid which is about 6% higher than the reserve price of S$315 million.

 

New Condo at Potong Pasir Avenue 1, former site of Raintree Gardens- Connectivity
New and upcoming Condo at former Raintree Gardens has good aceessibility to Potong Pasir and Woodleigh MRT Stations where future residents can be served by the North- East Line. When travelling to various part of island and to downtown Singapore, residents can travel by Central Expressway (CTE), Kallang Expressway (KPE) and Pan Island Expressway (PIE) and it takes residents approximately 10 minutes to travel to Central Business District CBD and 12 minutes to Orchard Shopping Belt.


New Condo at Potong Pasir Avenue 1, former site of Raintree Gardens- Amenities
There are many market and food centre nearby Potong Pasir Avenue 1 Condo. Future residents can choose to go Geylang Bahru Block 69 Market And Food Centre, Joo Seng Food Place, Bendemeer Road Block 29 Market And Food Centre, Lorong 7 Toa Payoh Block 22 Food Centre & Market, Upper Boon Keng Road Block 17 Market & Food Centre, Whampoa Drive Market & Food Centre, Sims Vista 49 Market And Food Centre, Lorong 4 Toa Payoh Block 74 Market And Food Centre, Lorong 5 Toa Payoh Block 75 Food Centre and Lorong 8 Toa Payoh Block 210 Market And Food Centre.

 

New Condo at Potong Pasir Avenue 1, former site of Raintree Gardens- Education
New Potong Pasir Avenue 1 Condo is close to reputable schools. St Andrew is one of the reputable school which allow your child to continue the education from Primary school to Junior College. The other school in the vicinity are Cedar Primary and Secondary, Bendemeer Primary and Secondary, Macpherson Primary, Maris Stella High (Primary and Secondary), Hong Wen, Pei Chun Public, First Toa Payoh Primary , First Toa Payoh Secondary, Bartley Secondary and Saint Gabriel’s Secondary.

 

New Condo at Potong Pasir Avenue 1, former site of Raintree Gardens- Developer
Both UOL and UIC are Singapore leading developers with an extensive portfolio of developments and investment properties. UOL believes strongly in delivering product excellence and has several winning prestigious awards. It is one of the leading public listed property firms in Singapore. United Industrial Corporation (UIC) has been listed as a public firm since 1969 and their main business is acquiring, investing in, and developing property. The corporate profiles of both these companies includes few of the best known property landmarks in Singapore. Their portfolio includes Principal Garden, Botanique at Bartley, Seventy Saint Patrick's, Riverbank at Fernvale. UIC property portfolio include V on Shenton, Mon Jervois, Pollen and Bleu and Alex Residences, commercial developments such as Marina Square, Singapore Land Tower and SGX Centre.


UVD (Projects) is proud to present you another of their quality condo development in Potong Pasir Avenue 1, at the former site of Raintree Gardens. With a central location and good connectivity, proximity to several good schools and lush greenery views around the site make it an excellent choice for both own-stay and investments.


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Project  Potong Pasir Avenue 1 New Condo at former site of Raintree Gardens
Developer  UVD (Projects) UOL Group and UIC Industrial Corporation (SingLand Homes)
Location  Potong Pasir Avenue 1
District  13
Tenure  99 years lease
Site Area  18,711 square metres/ 201,405 square feet
GFA:
Plot Ratio  2.8
Expected TOP:
Total Units  Approximately 700 residential apartments
Total Carpark
Development  Private condominium comprising of communal facilities
Unit Type:
Architect
Eligibility SC, SPR and Foreigners can buy
 
Potong Pasir New Condo Unit Mix Distribution
Unit TypeTypeArea (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
Potong Pasir New Condo Facilities
TBA
  • TBA
  • TBA
Potong Pasir New Condo Price List
Unit TypeArea (Square Feet)PricingPSF
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

potong-pasir-raintree

FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE

The Facilities and Site plan of new condo launch at the former site of Raintree Gardens, along Potong Pasir Avenue 1 are currently seeking approval from relevant authorities.

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AVAILABLE UNITS/ SOLD/ CHEAPEST PRICES PSF

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MODERN LOOK FOR NEW BIDADARI ESTATE

Bidadari Estate 2 

NEW BIDADARI HOMES TO SIT AMID LUSH GARDENS

Bidadari Housing Estate

Bidadari Estate is planned as a tranquil urban oasis, where residents can relax and connect with family and friends in a garden-like setting. Envisioned as “A Community in a Garden”, Bidadari Estate will feature a centrally-located 10ha Bidadari Park, which will connect to a Central Green Spine. Bidadari Park is well-connected to the residential estates through pockets of open spaces. Part of the tree-lined Upper Aljunied Road (from Upper Serangoon Road to Vernon Park) will be converted into a heritage walk for pedestrians.

Bidadari Estate will be pedestrian and cyclist friendly, with seamless connections between transport nodes, the park and commercial developments. To provide for the needs of new and existing residents, Bidadari Estate will feature a wide range of amenities including a new commercial development next to Woodleigh MRT station. A bus interchange, neighbourhood police centre and other community facilities will be located nearby. Other amenities such as places of worship and health and medical care facilities are also planned for the estate.

The upcoming housing estate will feature lush greenery and social spaces, in line with the area's vision of being "a community in a garden".

Residents in the area will be able to visit a nearby market square and walk around a scenic park and lake.

The 10ha Bidadari Park will house the new Alkaff Lake, named after the Arab family that built the Alkaff Lake Gardens in the area in 1929.

BIDADARI HOUSING ESTATE TO HAVE FIRST BUS INTERCHANGE UNDERGROUND

Bidadari integrated transport hub

The new Bidadari housing estate will be home to Singapore's first underground air-conditioned bus interchange below Housing Board flats.

The new interchange next to Woodleigh MRT station, expected to be ready by 2019, will cater to five bus services.

It will be "tucked away and hidden from the street view", sitting below a carpark and neighbourhood garden flanked by blocks of flats, according to the HDB's plans seen by The Straits Times.

Other plans to modernise Bidadari have been announced in the past couple of years for the area that was once Singapore's largest grave site. These include an underground service reservoir, a 10ha park and a lake within the park.

Bidadari Estate 1

The future Bidadari estate will lay claim to a unique feature - Singapore's first underground service reservoir built on low, instead of high, ground.

Holding enough water to fill three Olympic-size pools, the tank will be built beneath the town's planned park to save on surface space and keep the surroundings unmarred.

The land above it will be "integrated with the surrounding park amenities, hence optimising land", PUB has said, adding that high ground available for service reservoirs is "limited".

RAINTREE GARDENS SOLD TAKING EN BLOC SALES PAST S$1 BILLION MARK IN 2016

SINGAPORE — The total value of en bloc deals this year has crossed the S$1 billion mark, after the 175-unit Raintree Gardens site in Potong Pasir was sold to an associate company of UOL Group for S$334.2 million, said marketing agent JLL on Thursday (Oct 6).

Reflecting the turnaround in the property market, the value of the successful deals so far this year — totalling slightly above S$1 billion — is the highest since 2012, when 19 deals were transacted for S$1.2 billion, showed figures by Urban Redevelopment Authority (URA) and OrangeTee. The total value of en bloc deals reached S$2 billion and S$3.3 billion in 2010 and 2011, respectively, in the midst of a property bull run. 

The keenly-watched sale tender of the river fronting housing development of Raintree Gardens attracted between five and 10 bids. A deal was sealed early on Thursday between the Sale Committee and UVD (Projects), a joint venture between UOL Venture Investments and Singland Homes, a subsidiary of developer United Industrial Corporation (UIC). 

The purchase price is about 6 per cent higher than the minimum asking price of S$315 million, and works out to about S$1.9 million per unit, subject to several conditions being met, including an order of sale by the Strata Titles Board or High Court. 

More than 80 per cent of the owners had consented to the sale. 

“It’s a good price for the sellers. For the buyers, if they’re taking a bet on the excitement and new amenities coming up at Bidadari, which is nearby, then it wouldn’t be a wrong calculation as well,” said Mr Ku Swee Yong, chief executive of International Property Advisor. 

He added that competition for land has intensified as more developers need to replenish their land bank. 

The sale of Raintree Gardens, a privatised Housing and Urban Development Company (HUDC) estate, is the third successful en bloc sale this year. 

Qingjian Realty had in May bought the 358-unit privatised HUDC estate Shunfu Ville for S$638 million, while Roxy-Pacific Holdings snapped up Harbour View Gardens, a 14-unit condominium in Pasir Panjang, for S$33.25 million in August. 

Mr Karamjit Singh, international director and head of residential at JLL, said: “The collective sale market is slowly turning a corner … The pick-up in collective sale activity is due to a combination of three factors: The switch in the outlook of the residential market from negative to neutral-positive, the shortage of development condo sites — whether from the government or private sector — and the strong attributes and realistic pricing of the developments that were sold this year. 

“This year’s S$1 billion worth of successful collective sales, while comparing strongly with the past two years, still pales in comparison with 2010 to 2013, when the average annual value of successful deals was S$1.875 billion.” 

Raintree Gardens’ sale price translates into a land cost of approximately S$797 per square foot per plot ratio (psf ppr) on the potential gross floor area, inclusive of an estimated differential premium payable to the State to top up the lease to a fresh 99 years and for redevelopment of the condo site to a gross plot ratio of 2.8, said JLL. 

Built in the late 1980s, the Raintree Gardens estate comprises two 12-storey mansionette blocks and one seven-storey mansionette block, with land area of approximately 201,405sqf. 

The site could potentially be rebuilt into a waterfront condominium with 600 to 748 units.

Source: TodayOnline

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