News: More properties go en bloc despite property curbs

Oct 5, 2018

The latest properties to be put up for collective sale include a row of landed houses in Bartley. (Photo: Mount Everest Properties)

The government’s latest property cooling measures have not deterred homeowners from putting their properties up for collective sale, with Casa Riviera and a row of five landed houses in Bartley district being the latest to hit the market.

Homeowners at the 31-unit Casa Riviera are expecting offers in excess of $55 million, which works out to $1,223 psf per plot ratio (psf ppr), after factoring in the 10 percent bonus balcony space, revealed marketing agent Mount Everest Properties.

No development charge is payable for the freehold property.

More: Developers’ En Bloc Appetite Diminishing: RHB

Located at Lim Tua Tow Road, the 29,181.2 sq ft site is zoned residential under the 2014 Master Plan with a gross plot ratio of 1.4 and a building height limit of up to five storeys.

The freehold property is located close to the Serangoon and Kovan MRT stations and is connected to the Kallang-Paya Lebar Expressway.

Meanwhile, the owners of the five freehold terrace homes at Quemoy Road are asking for $30 million ($885 psf ppr), after factoring in the 10 percent bonus balcony space.

Zoned residential with a gross plot ratio of 1.4, the 22,000 sq ft site can be redeveloped into a five-storey boutique development, subject to the relevant authority’s approval, said Mount Everest Properties.

The freehold site is within walking distance to Bartley MRT station and is also close to various schools including St Gabriel’s Secondary, Maris Stella High and Paya Lebar Methodist Girls’ (Secondary).

The tender exercises for the Bartley houses and Casa Riviera will close on 31 October and 13 November respectively.

More: Understanding The En Bloc Process (August 2018)

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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