PROJECT DETAILS
The Estoril, Condo, located in the Core Central of Singapore, has been sold to Far-East consortium, through a collective sales, in the 2nd quarter of 2018, for S$223.9 million. The sales price will translate to about a land rate of S$1,654 psf per plot ratio. Inclusive of 10% bonus gross floor area (GFA), the land rate works out to a lower $1504 psf ppr. The 84,600 sq ft site is zoned for residential use with a 1.6 plot ratio under the Urban Redevelopment Authority's Master Plan 2014.
The Estoril has a land site area of 84,600 square feet and is sourrounded by other developments which are also sold under collective sales, this include The Hollandia, Olina Lodge, The Wilshire and Tulip Gardens.
Far-East Consortium submitted the top bid of S$183.38 million for Hollandia, this translates to a land rate of S$1713 psf ppr
Far-East submitted the top bid of S$223.9 million for The Estoril, this translates to a land rate of S$1654 psf ppr
Peak Opal, a unit of Kheng Leong, submitted the top bid of S$230.9 million for Olina Lodge, this translates to a land rate of S$1712 psf ppr
YanLord and MCL Land submitted the top bid of S$907 million for Tulip Gardens, this translates to a land rate of S$1789 psf ppr
Consortium Tong Eng and Roxy Group submitted the top bid of S$98.8 million for The Wilshire, this translates to a land rate of S$1643 psf ppr
Other developments that are nearby include Viz at Holland, Parvis, Lush at Holland Hill, Leedon Residences, d’Leedon, Siena @ Farrer, Pollen and Bleu and The Merasaga.
New Condo at Holland Road- Connectivity
New and Upcoming Condo in Holland Road is conveniently located just minutes walk to Holland Village MRT station which operates the Circle Line. Future residents of New Condo can just take 1 stop to Buona Vista MRT Interchange where they can easily access to the East West Line. New Condo is also well accessed as it only takes approximately 8 minutes to drive to Orchard Shopping Area. For those working in the downtown financial district, it only takes approximately 10 minutes’ drive to the Central Business District (CBD). New Condo is also well linked to the Pan Island Expressway (PIE) and the Ayer Rajah Expressway (AYE) which makes it easy to drive to various parts of the island.
New Condo at Holland Road- A Mixed Development- Amenities
Future residents of New Condo will enjoy convenience at its best as it is just conveniently located next to Holland Village. There, its future residents will be able to enjoy a wide array of conveniences right at their doorsteps with More new retail shops and dining options, various bistros serving international cuisines, together with the Holland Village Market & Food Centre. Other shopping malls, which future residents of New Condo can go to include Integrated Hub @ One-North, Rochester Mall and also Coronation Shopping Centre. To access to a wide variety of local food, future residents of New Condo can also go to nearby food centres such as Holland Drive Block 44 Market And Food Centre, Ghim Moh Road Block 20 Market And Food Centre, Commonwealth Crescent Market and Food Centre, Tanglin Halt Road Block 48A Market and Food Centre, Empress Market Road Market and Food Centre, Commonwealth Avenue Block 40A Food Centre and Dover Road Block 33 Market And Food Centre.
New Condo at Holland Road- Education
For residents with school going children, New Condo in Holland Road is an ideal home as it is near to various reputable local schools. Primary and secondary schools that are within a short radius of New Condo include Henry Park Primary School, New Town Primary School, Fairfield Methodist Primary School, Nanyang Primary School, Saint Margaret’s Secondary School, Anglo-Chinese International School, Fairfield Methodist Secondary School, Queensway Secondary School, Anglo-Chinese Independent School and Hwa Chong Institution. The Anglo-Chinese Junior College and Singapore Polytechnic are also less than 2 km away from New Condo. International schools that are near to New Condo are the Tanglin Trust School and the Dover Court Preparatory School.
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| Project | Holland Road New Condo at former site of Estoril |
| Developer | Far East Consortium |
| Location | 95, Holland Road |
| District | 10 |
| Tenure | Freehold |
| Site Area | 84,600 square feet |
| GFA: | |
| Plot Ratio | 2 |
| Expected TOP: | TBA |
| Total Units | |
| Total Carpark | |
| Development | |
| Unit Type: | |
| Architect | |
| Eligibility | Local Singaporeans/ PRs / Foreigners can buy (No restriction) |
LOCATION MAP and AMENITIES
FACILITIES AND SITE PLAN E-BROCHURE
The Facilities and Site plan of new condo launch at the former site of The Estoril, along Holland Road are currently seeking approval from relevant authorities.
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RESIDENTIAL FLOOR PLANS E-BROCHURE
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FAR EAST CONSORTIUM BAGS THE ESTORIL AT S$223.94 MILLION
FAR East Consortium International's fully-owned unit FEC Properties has been awarded the collective sale of The Estoril in Holland Road at S$223.938 million.
This works out to a land rate of S$1,654 per square foot per plot ratio (psf ppr) for the freehold property in prime District 10. Inclusive of the 10 per cent bonus balcony gross floor area, the land rate works out to a lower S$1,504 psf ppr. No development charge is payable even after factoring this bonus area due to the high baseline for the property.
The 84,600 sq ft site is zoned for residential use with 1.6 plot ratio under the Urban Redevelopment Authority's Master Plan 2014.
CBRE is brokering the collective sale. To date owners controlling slightly more than 80 per cent of the development's share value and strata area have consented to the collective sale. Unless owners' unanimous approval is obtained, the transaction will be subject to approval by the Strata Titles Board and if necessary, the courts.
The Estoril is a six-storey development with 44 units comprising 40 apartments and four penthouses. Owners stand to receive a gross payout of about S$4.6 million per apartment unit and S$9.85-9.95 million per penthouse unit. This is The Estoril's fourth collective sale attempt.
The tender for the property closed on Tuesday, drawing a handful of bids.
Sammi Lim, director of capital markets at CBRE, said: "Developers concur that The Estoril is a site with excellent attributes in an attractive location. The recent keen interest for the URA Holland Village extension mixed-use development site also signals that developers remain confident about this location, especially in view of further rejuvenation in the locality."
Source: Business Times 4th April 2018
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