On the bloc

Collective sales returned to the market - seemingly with a vengeance - after an initial knee-jerk cooling-off period following the government’s market cooling measures in December 2021. Yet while some large and prime sites sealed deals in the year to date, many are still on the block after several rounds of marketing. Others are taking longer to conclude, closing tenders with no bids or moving into extended private treaty talks. Still, property watchers see continuing interest from developers local and foreign, in an environment where both new launch prices and interest rates are rising. We map the major en bloc sales that have come on the market this year, and those that have sold so far this year and last year.

ORCHARD

1. High Point Asking: S$550 million Tenure: Freehold Land rate: S$2,508 psf ppr Land area: 47,606 sq ft

2. Elizabeth Towers Asking: S$630 million Tenure: Freehold Land rate: S$2,400 psf ppr Land area: 54,317 sq ft

OXLEY, RIVER VALLEY

1. Oxley Garden Asking: S$200 million Tenure: Freehold Land rate: S$2,346 psf ppr Land area: 58,207 sq ft

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2. 5 Oxley Rise Asking: S$300 million Tenure: Freehold Land rate: S$1,984 psf Land area: 151,205 sq ft

3. 10A, 10B Institution Hill Sold: S$33.6 million Buyer: Macly Group, Roxy-Pacific Holdings, LWH Holdings / Feb 2021 Tenure: Freehold Land rate: S$1,381 psf ppr Land area: 8,761 sq ft

4. The Beaumont Asking: S$468 million Tenure: Freehold Land rate: S$2,448 psf Land area: 74,739 sq ft

SEE ALSO

En bloc market picking up momentum, but developers seen remaining selective

TANGLIN

1. 21 Anderson Sold: S$213 million Buyer: Kheng Leong Group / Sep 2021 Tenure: Freehold Land rate: S$2,490 psf ppr Land area: 49,000 sq ft

2. Tanglin Shopping Centre (commercial) Sold: S$868 million Buyer: Pacific Eagle Real Estate / Feb 2022 Tenure: Freehold Land rate: S$2,769 psf ppr Land area: 68,512 sq ft

3. Orchard Bel Air Asking: S$587.5 million Tenure: 99-year leasehold Land rate: S$2,600 psf ppr Land area: 93,126 sq ft

JURONG

1. Lakepoint Condo Asking: S$640 million Tenure: 99-year leasehold Land rate: S$988 psf ppr Land area: 562,286 sq ft

2. Lakeside Apartments Sold: S$273.9 million Buyer: Wing Tai / May 2022 Tenure: 99-year leasehold Land rate: S$1,250-$1,260 psf ppr Land area: 134,177 sq ft

3. Park View Mansions Sold: S$260 million Buyer: Chip Eng Seng, KSH, SingHaiyi / Jul 2022 Tenure: 99-year leasehold Land rate: S$1,023 psf ppr Land area: 191,974 sq ft

THOMSON

1. Thomson View Condo Asking: S$950 million Tenure: 99-year leasehold Land rate: S$1,294 psf ppr Land area: 540,319 sq ft

BUKIT TIMAH

1. Watten Estate Condo Sold: S$550.8 million Tenure: Freehold Buyer: UOL-SingLand / Oct 2021 Land rate: S$1,723 psf ppr Land area: 220,241 sq ft

2. 551-553 Bukit Timah Road, 6-8 Duke’s Road Sold: S$53.9 million Tenure: Freehold Buyer: Hillcrest Investments / Dec 2021 Land rate: S$1,504 psf ppr Land area: 16,479 sq ft

SERANGOON

1. Chuan Park Condo Sold: S$890 million Buyer: Kingsford Group, MCC Singapore / Jul 2022 Tenure: 99-year leasehold Land rate: S$989 psf ppr Land area: 400,588 sq ft

2. Kensington Park Asking: S$1.28 billion Tenure: 999-year leasehold Land rate: S$1,371 - S$1,414 psf ppr Land area: 491,000 sq ft

EAST COAST

1. Meyer Park Asking: S$420 million Land rate: S$1,720 psf ppr Land area: 96,672 sq ft

2. La Ville Sold: S$152 million Buyer: ZACD Group / Dec 2021 Land rate: S$1,477 - S$1,540 psf ppr Land area: 47,012 sq ft

PASIR PANJANG

1. Gloria Mansion Sold: S$70.3 million Buyer: Fraxtor Capital and Teo family / Jan 2022 Tenure: Freehold Land rate: S$1,098 psf ppr Land area: 45,742 sq ft

2. Flynn Park Sold: S$371 million Buyer: Hoi Hup Realty, Sunway Developments / Sep 2021 Tenure: Freehold Land rate: S$1,318 - S$1,355 psf ppr Land area: 208,443 sq ft

KALLANG

1. Sultan Plaza Asking: S$360 million Tenure: 99-year leasehold Land rate: S$1,549 psf ppf (mixed use), S$1,629 psf ppr (hotel) Land area: 63,440 sq ft* *including adjoining state land

2. Golden Mile Complex Sold: S$700 million Buyer: Perennial Holdings, Sino Land, Far East Organization / May 2022 Tenure: 99-year leasehold Land rate: S$1,181 psf ppr Land area: 144,908 sq ft

SELEGIE

1. Peace Centre and Peace Mansion Sold: S$650 million Buyer: Chip Eng Seng, SingHaiyi, Ultra Infinity / Dec 2021 Tenure: 99-year leasehold Land rate: S$1,388 - S$1,426 psf ppr Land area: 76,618 sq ft

DOWNTOWN

1. People’s Park Centre Asking: S$1.8 billion Tenure: 99-year leasehold Land rate: S$2,620 psf ppr Land area: 95,467 sq ft

2. Maxwell House Sold: S$276.8 million Buyer: SingHaiyi, Chip Eng Seng, Chuan Holdings / May 2021 Tenure: 99-year leasehold Land rate: S$1,700 psf ppr Land area: 41,799 sq ft

3. International Plaza Asking: S$2.7 billion Tenure: 99-year leasehold Land rate: S$2,448 psf ppr Land area: 75,090 sq ft

TANJONG KATONG

1. 173-183 Haig Road Sold: S$49.3 million Tenure: Freehold Buyer: Nanshan Group / Apr 2022 Land rate: S$1,286 psf ppr Land area: 27,389 sq ft

2. 23, 25, 27, 29 Thiam Siew Avenue Sold: S$815 million Tenure: Freehold Buyer: Hoi Hup Realty, Sunway Developments / Nov 2021 Land rate: S$1,488 psf ppr Land area: 263,794 sq ft

Note: Per square foot per plot ratio prices for land include development charge, lease top-up premium and bonus GFA if applicable NA: Not available

BT Digital Graphic: Joanna Lum, Michelle Low Source: Compiled by BT, Knight Frank, images from Google Earth