As reported in the ST today, two collective sales have been completed.
However, both were at prices lower than earlier indicated, perhaps showing that recent cooling measures have tempered demand a little.
Marine Point
Marine Point in Marine Parade Road has been acquired by CapitaLand at $101 million. The owners wanted $110 million when the tender was launched in October.
If an estimated development charge of $12.8 million is included, the price works out to $1,056psf ppr, CapitaLand said.
Bartley Terrace
Bartley Terrace, near Bartley MRT station, was sold for $40 million. The tender was launched last year with an asking price of $48 million.
Meadows Investment, a firm owned by Mr Neo Tiam Boon, executive director of local property and construction firm Tiong Aik Group, bought the site in a private treaty, said marketing agent Urban Front yesterday.
The price works out to about $760psf ppr, inclusive of about $3 million in development charges and a 10% balcony allocation.
The District 19 freehold site has a land area of about 40,482sqft with a plot ratio of 1.4.
The owners of the 32 units stand to reap $1.14 million to $1.8 million each, Urban Front said.
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