PROJECT DETAILS
Two land parcel sites which are opposite one another, at Serangoon North Avenue 1, located at the North-Eastern Region of Singapore, near Serangoon Gardens were sold for New and Upcoming Condo developments under Government Land Sales (GLS) and Collective Sales of the former Serangoon Ville.
The residential site under the Government Land Sales (GLS) is sold by Urban and Redevelopment Board of Singapore (URA). This land parcel is near to Yio Chu Kang Road bounded by Serangoon North Avenue 1, Lichfield Road and Walmer Drive. It is allocated to be developed into private residential condominium. It has a site area of 185,022 square feet and will house approximately 505 residential apartments.
Corson and Wingjoy Investment, entities of Keppel Land and Wing Tai, submitted the top bid of $446.28 million which translates to a land rate of about $965 psf per plot ratio.
The other site sold is through collective sales for the former site of Serangoon Ville, a former HUDC (Housing and Urban Development Company) estate. It has a site area of 296,913 square feet and has a maximum gross floor area (GFA) of almost double that of the Serangoon North Avenue 1 land site under GLS.
Oxley Serangoon bought the land site of the former HUDC of Serangoon Ville for S$499 million. It comprises of Oxley Holdings, Lian Beng Group, Apricot Capital and entities of KSH Holdings and Heeton Holdings, the same team which bought Rio Casa en bloc in May, The site is aling Serangoon North Avenue 1, near Serangoon Gardens.
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 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.
New Condos at Serangoon Gardens- Connectivity
Residents of new and upcoming condo in Serangoon Gardens can be served by the Serangoon MRT Station and Lorong Chuan MRT Station It is only 1 station to Serangoon MRT Interchange where residents of new condo in Serangoon Gardens can conveniently transit to the Circle Line which provides future residents of new condo more options of destinations. Within here, there is the Serangoon Bus Interchange future residents can access to many bus services providing a conduit of conveniences for them to commute to several parts of Singapore.
New Condo in Serangoon Gardens is easily connected to Central Expressway (CTE). It will take approximately 13 minutes to the Central Business District (CBD), City Centre and Orchard Shopping Belt via Central Expressway (CTE) where they can access easily to Tampines Expressway (TPE), the Seletar Expressway (SLE) and the Kallang Paya Lebar Expressway (KPE) to various parts of Singapore.
New Condo at Serangoon Gardens- Amenities
New and Upcoming Condo in Serangoon Gardens is near to Serangoon Garden Market and Chomp Chomp Food Centre where residents can get their daily groceries and necessities. It is short drive away from Hougang 1, where future residents may get more alternatives at the retail shops and supermarket located in Hougang 1. New Condos at Serangoon Gardnes is a short drive to many other shopping malls. They are Hougang Green Shopping Centre, Greenwich V, Heartland Mall, myVillage at Serangoon Garden, Hougang Mall, Hougang Plaza and The Midtown.
For more sports and leisure, residents of New Condo at Serangoon Gardens can take a short drive to Hougang Swimming Complex, Hougang Stadium and Serangoon Sports Hall. Serangoon Garden Country Club is also a short drive away.
New Condo at Serangoon Gardens- Education
New Condo in Serangoon Gardens has many kindergartens and schools nearby. The primary schools which are within its vicinity includes CHIJ Primary School, Rosyth School, Hougang Primary School, Xinmin Primary School, Yio Chu Kang Primary School, Montfort Junior School, Zhonghua Primary School, Palm View Primary School, Holy Innocents’ Primary School, Fernvale Primary School and Punggol Primary School. New Condo in Serangoon North Avenue 1 is also close to secondary schools such as Bowen Secondary School, Xinmin Secondary School, Hougang Secondary School, Serangoon Garden Secondary School, Montfort Secondary School, Peicai Secondary School, Pei Hwa Secondary School and Holy Innocents’ High School.
Both sites in the location of Serangoon North have a central location being in the Rest of Central Region of Singapore, with good connectivity, proximity to good schools and lush greenery views around them make both excellent choice for both own-stay and investments.
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| Project | Serangoon Gardens 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 |
| Project | Serangoon Gardens New Condo (Former site of Serangoon Ville)- Two |
| Developer | Oxley Serangoon |
| Location | Serangoon North Avenue 1 (Serangoon Planning Area) |
| District | 19 |
| Tenure | 99 years lease |
| Site Area | 27,583.90 square metres/ 296,913 square feet |
| GFA: | |
| Plot Ratio | 2.8 |
| Expected TOP: | |
| Total Units | Approximately 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
Amenities Near New Condo in Serangoon North Avenue 1
| Category | Amenities Near new condo at Serangoon North Avenue 1 | Approximate Distance |
| Train Stations |
Serangoon |
km km 1.8 km |
| Bus Stop | Gracehaven Salvation Army (Bus: 43, 70, 70M, 73, 103, 109, 156, 854, 854E) Opp Gracehaven Salvation Army (Bus: 6N, 43, 70, 70M, 73, 103, 109, 156, 854, NR6) Blk 941A (Bus: 112) |
km km km |
| Supermarkets | Fairprice (Hougang One) Sheng Siong (Serangoon North) Giant (Buangkok Crescent) Cold Storage (Greenwich V) |
km km km km |
| Shopping Malls | Hougang One Hougang Green Shopping Centre Greenwich V Heartland Mall myVillage at Serangoon Garden Hougang Mall The Midtown Hougang Plaza |
1.4km 2.3km 2.3km 1.8km 0.6km 2.8km 2.8km 2.8km |
| Education Institutions | Preschool | |
| PCF Ang Mo Kio-Hougang Blk 936-937 St. Vincent De Paul Kindergarten PCF Jln Kayu Blk 518-520-522 PCF Ang Mo Kio-Hougang Blk 632 Al – Istiqamah Mosque Kindergarten PCF Ang Mo Kio-Hougang Blk 929 Yio Chu Kang Chapel Kindergarten PCF Serangoon Blk 141 PCF Ang Mo Kio-Hougang Blk 970 Jenius Kindergarten (Hougang) |
km km km km km km km km km km |
|
| Primary | ||
| Rosyth School Hougang Primary School Xinmin Primary School Yio Chu Kang Primary School Montfort Junior School Zhonghua Primary School Palm View Primary School Holy Innocents’ Primary School Fernvale Primary School Punggol Primary School |
0.9km km km km km km km km km km |
|
| Secondary | ||
| Bowen Secondary School Xinmin Secondary School Hougang Secondary School Serangoon Garden Secondary School Montfort Secondary School Peicai Secondary School Pei Hwa Secondary School Holy Innocents’ High School |
km km km km km km km km |
|
| Junior College | ||
| Serangoon Junior College Nanyang Junior College |
km km |
|
| Tertiary | ||
| Nanyang Polytechnic | km | |
| International | ||
| Lycee Francais De Singapour | km | |
| Food Centre | Chomp Chomp Food Centre Serangoon Garden Market And Food Centre Hougang Street 21 Block 209 Market And Food Centre |
km km km |
| Lifestyle | Hougang Sports Hall Serangoon Gardens Country Club Kovan Sports Centre Hougang Stadium |
km km km km |
FACILITIES and SITE PLAN
The Facilities and Site Plan of the 2 New Condos in Serangoon North Avenue 1 are currently seeking approval from relevant authorities.
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SERANGOON OVERVIEW
Serangoon enjoy a good range of amenities and convenient transport connections. Over the next few years, Serangoon will offer residents better facilities, more recreational options and improved transport connectivity. The growth of the Serangoon Sub-Regional Centre will also bring in new job-opportunities.
New Serangoon Gardens Condo- Housing- Improving lifes with better neighbourhood
Potential home owners continue to see Serangoon as an attractive choice becuase of its central location and comprehensive range of amenites. Estate upgrading projects have improved the physical environment in areas such as Braddell Hills and Seletar Hills. More residential sites will be made available for development in Serangoon progressively while the following projects will further enhance the living environment for residents:
Provision of integrated daycare facility and family medicine centre at Serangoon Central
The newly completed Greenwich V, a new retail destination offering fresh shopping and dining alternatives
Estate upgrading for the Bartley neighbourhood
New Serangoon Gardens Condo- Leisure: Hangout to relax and recharge
Residents in Serangoon have easy access to several major parks in other north-eastern via the existing park connectors, including Bishan- Ang Mo Kio park via Ang Mo Kio Avenue 5. For greener spaces closer to home, residents can look to the various neighbourhood parks and precinct parks in convenient locations within their housing estate. In the coming years, residents will be able to add a few more places to their list of hangouts:
The 17ha Serangoon North Linear Park along Ang Mo Kio Avenue 5
A new plaza and a new pedestrain mall at Serangoon Central, built in tandemn with future developments to create vibrant spaces in community activities and improve pedestrain linkages within the town centre
New Serangoon Gardens Condo- Transport: Smoother rides and faster connection
Travelling within Serangoon and to other parts of Singapore will be faster and more convenient and more commercial with the following enhancements to the roads and public transport services, including:
Widening of Upper Paya Lebar Road to ease the peak hour traffic congestion heading towards Kallang-Paya Lebar Expressway (KPE) and Pan Island Expressway (PIE).
Improvements to the road and junction at Serangoon Avenue 2
New Serangoon Gardens Condo- Economy: More jobs near home
With the developments of new offices at Serangoon Central in future and and new industrial developments at Serangoon North, residens of Serangoon can soon expect more opportunities to take up jobs near home and save on commuting time. Going home after a hard's work will only mean a short walk or a quick bus ride and travelling to the city to meet up friends is also easy via Serangoon MRT station, an interchange station for the Circle Line and North-East Line.
New Serangoon Gardens Condo- Identitiy- The Simple pleasure of Serangoon Gardens
Serangoon Garden will be recognised as an identity node to retain its unique character and laid back charm. Its low rise landscape is the perfect complement to the variety of local food treasures here, creating a village ambience that distinguishes it from other food hangouts. To provide a more memorable experience in this popular enclave and protect its unique characte, we will retain Serangoon Garden Circus as a local landmark and formulate street block plans to guide future improvement of the area.
FORMER SERANGOON VILLE WAS SOLD TO CONSORTIUM OXLEY SERANGOON THROUGH COLLECTIVE SALES TENDER
(1) A CONSORTIUM led by Oxley Holdings has acquired Serangoon Ville for S$499 million in a collective sale.The consortium comprises Lian Beng Group, Unique Invesco Pte Ltd, and Apricot Capital, which is the private investment firm of Super Group's Teo family. Unique Invesco is a 37.5 per cent owned associated company of Kim Seng Heng Realty Pte Ltd, a wholly owned subsidiary of KSH Holdings.
Earlier in May, the four companies - Oxley, KSH, Lian Beng and Apricot Capital - also teamed up to acquire Rio Casa, a former HUDC estate in Hougang, in a collective sale for S$575 million.
It is the seventh en bloc deal year-to-date – buying Serangoon Ville for S$499m (S$835 psf ppr including development charges). The estimated breakeven price is S$1,300 psf, which implies a launch price of more than S$1,400psf. Oxley’s partners are Lian Beng, a KSH Holdings’ associate, and Super Group’s Teo family, the same team which bought Rio Casa en bloc in May.
It was reported that the bid was very competitive, involving more than five bidders. Competition is building up in the en bloc space. Other potential en bloc sites coming up include Dunearn Court (tender closes on 6 September), Ville D’Este, Tampines Court, and Normanton Park.
The market continues to see optimism in the land bids, both for GLS and en bloc sites as developers compete to replenish their land bank and ride on a turn in sentiment in Singapore’s property market.
KEPPEL LAND and WINGTAI HOLDINGS WON TOP BID FOR GLS LAND PARCEL SITE IN SERANGOON NORTH AVENUE 1
(2) SINGAPORE - A joint venture between Keppel Land and Wing Tai Holdings leads the field in a fiercely competitive 16-horse race for a private residential site in Serangoon North Avenue 1.
Corson and Wingjoy Investment - units of Keppel Land and Wing Tai Holdings - jointly placed the top bid of $446.28 million for this land under Government Land Sales (GLS), 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.
The second-highest bid of S$418.7 million came from Frasers Centrepoint's FCL Residences.
Singland Homes and UOL Venture Investments jointly submitted the third highest bid at $417.2 million. The lowest bidder, EL Development, offered S$338 million for the site.
The site in Serangoon North Avenue 1 has a land area of 17,189.1 sq m and permissible gross floor area of 42,973 sq m.
Keppel Land and Wing Tai Holdings said in a joint statement yesterday that they plan to develop around 600 homes on the 1.7ha site. "We are confident that this new development will see positive demand as there have been few new condominiums launched in recent times in the popular Serangoon Gardens area," noted Keppel Land chief executive Ang Wee Gee.
The top bid was about 6.6 per cent higher than the $418.7 million tabled by Frasers Centrepoint's FCL Residences, while Singland Homes and UOL Venture Investments jointly submitted the third highest offer of $417.2 million.
Mr Nicholas Mak, head of research and consultancy at ZACD Group, noted that a third of the bids were "bullish" at over $860 psf ppr, despite the site not being near an MRT station.
"(It) signals both the developers' hunger for land as well as their willingness to bet on a strong price recovery in the Singapore residential property market by the time the development is ready for launch," Mr Mak added.
Mr Desmond Sim, head of CBRE Research for Singapore and South-east Asia, said: "The strong turnout could also be an indication that developers have accepted that the trough of the market is here."
Keppel and Wing Tai's bid was about 16 per cent higher than the land price for privatised HUDC estate Serangoon Ville nearby, which was bought in a collective deal by an Oxley Holdings-led consortium on Wednesday for $835 psf ppr. This included extra charges for lease top-up and intensifying land use.
Analysts expect that the average selling price of the new development could range from $1,500 to more than $1,600 psf based on the top bid.
"The sell-out of Hundred Palms EC in seven hours last weekend has boosted developers' confidence in the pricing power for mass market homes in the locality," said Cushman & Wakefield research director Christine Li.
Wing Tai Holdings noted that the project's location in the Serangoon mature estate and the amenities in the area, including the popular Chomp Chomp Food Centre, will appeal to buyers.
Consultancy Edmund Tie & Company expects the project to see "strong demand from HDB upgraders staying in the area". This includes Ang Mo Kio, Serangoon North, Hougang.
Source: Straits Times
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