Minbu Rd freehold site up for collective sale

27 Sep 05




A 60,820 sq ft freehold site at Minbu Road in the Balestier area has come on the market. It is a collective sale involving 10 owners who among them own a 10-storey block of 40 apartments, a detached house, four semi-detached homes and a seven-storey block of seven apartments.


The property, being offered by tender closing on Oct 25, has the unanimous approval of all owners, and the expected price is at least $60 million, says Knight Frank, which is marketing the sale. Based on this price tag, the land cost works out to about $354 per sq ft of potential gross floor area, inclusive of development charges. A new condo on the site can break even at about $600 psf. The site is zoned for residential use with a 2.8 plot ratio (ratio of potential maximum GFA to land area).

Knight Frank said that the site should appeal to property developers and contractors.

UOL buys Akyab Rd site for $20.9m

7 Feb 06

New COO says it will be on the lookout for further acquisitions


UNITED Overseas Land is extending its buying spree into the new year with its latest acquisition of a residential redevelopment site in Akyab Road for $20.9 million.


And UOL's new chief operating officer Liam Wee Sin, who was previously group general manager and promoted yesterday, confirms that it is actively looking to expand its land bank.

The freehold Akyab Road site, which is in the Novena area, will be amalgamated with a smaller adjoining site in Minbu Road that it bought in October 2005. Last year, UOL made a slew of acquisitions which included Maryland Park, Eng Cheong Tower, Oasis Garden and Bo Bo Tan Mansion/Gardens.

Mr Liam said UOL expects to launch several projects this year, including one in Kuala Lumpur.

Indeed, of its new land bank, more may be expected to be overseas. 'For en-bloc sales sites especially, we are increasingly faced with fast escalating and unrealistic asking prices,' he added.

Saying that today's property market is 'highly competitive', Mr Liam noted that an 'immense amount of energy is spent on product development'. Some of UOL's better known products include the award winning One Moulmein Rise in Novena.

New niche products include its new economy condominium at One-North in Buona Vista, a joint venture project with Kheng Leong Company and Low Keng Huat. As COO, Mr Liam will oversee the investment, project, marketing and engineering divisions. UOL is also looking to expand its service apartment arm which will also fall under the COO's purview.

'We have just bought One Residency in Kuala Lumpur and we plan to operate it as service apartments. Locally, we will also be launching our proposed service suites at Somerset Road sometime next year,' he added.

Also promoted was general manager of finance Wellington Foo who will now serve as CFO of UOL.

Perhaps more indicative of UOL's expansion plans is the confirmation that Kam Tin Seah, former Centrepoint Properties' assistant general manager of development, has joined UOL and is now general manager of investments.

By ARTHUR SIM

Saw this advertisement:

http://i77.photobucket.com/albums/j67/RCSSC/minbu1.jpg

The site is at the junction of Minbu & Akyab Road (which is very near Balestier Rd and about next to the Ansley)

Showroom is under construction, and the former enblocked building is being demolished.

http://i77.photobucket.com/albums/j67/RCSSC/minbu2.jpg

It will probably be launched next year

WAH!!! Condo boom?!

Not only that, all of them are over 30 stories!!

Sadly most of the designs are so-so only. :(

This project will be named Pavilion 11.

This project will be named Pavilion 11.
wow! 1st is sky 11, now is pavilion 11:lol:

What will be the prices like in psf and three new launches at almost the same time?

Hi Yokeer,

The price is like running wild ... haha ...
Based on recent observations ... if they launch A, then rest some days/weeks, then launch B, then rest a while then launch C, prices of B will be higher than A ... and C will even be higher ...

The Axis did about 900 psf ... so ... P11 will probably top 1k psf ..

YFG ... ...

What is the estd price and size of the smaller units. I believe the distance to MRT is quite far (20 mins walk?)

Hi guys,

What would you think if the price is at $1kpsf? Walking to Novena MRT is about 0.67km away. As for floor plan u got send me ur email.

I have a gut feel that this will be another project that will sell like hot cake. I've noticed the UOL projects .... good location, practical floor layouts, quality furnishings, and price to sell, etc. At $900 - $1000 psf .... around or near the novena area .... comparing with the prices today .... I would think it'll be moving fast.

UOL last couple of launches in tiong bahru, river valley, new bridge road, etc. are all sell-outs.

Just my 2-cents

For 1000psf, it will be overpriced for a location which is not true blue Novena area and is considered more of a Balestier location being nearer to Balestier Road. For 1000psf investors should go for a sub sale unit at Strata - much better location and higher rental yield. It is funny how the newly completed condos do not move as fast as newly launched condos. If really 1000psf average for the Pavilion 11, then those at Newton like Park Infinia should be $1500psf minimum.

How big is area sqft for 2 & 3 bedders? What are the facilities available?

How big is area sqft for 2 & 3 bedders? What are the facilities available?

Expected TOP date : June 2010
DP Architects
2rm - 958sqft (60 units)
3rm - 1485sqft (116 units)
Penthouse 4rm 3 level - 4219sqft (only 4units)

Was at Tiong Bahru just now for super and drove around a little after that. I just realised, if UOL's 3 Tiong Bahru condos can sub sell for $1,000 psf, I don't see why Pavilion 11 and Montebleu cannot launch at $1,000 psf. Because I think Balestier is much nearer Orchard and the Marina area than Tiong Bahru! And Balestier is mostly private property, few HDB flats. Tiong Bahru is full of HDB flats. Only thing Tiong Bahru and Redhill have is the MRT. You stay in Balestier you have to drive or take taxi.

Hi All,

Just went to the showflat today. nice showflat.
2 payment scheme. progressive payment have 3% discount(5% + 5% 8week later, 10% dec 07, 10% sep08).
selling price for 2x-01 work out to be ard 880psf and 850psf(progressive)

cheers
vince
ERA 96806704

Good move by UOL. Wait for Soilbuild to build market expectations up to the $1,000 psf level for Montebleu, then launch before Soilbuild and undercut them by $150psf for their more superior project (IMO) Pavilion 11.

Soilbuild needs to wake up! They still have 2 projects to sell here in Novena/Balestier.

Small Boy (Soilbuild) want to play with Big Boy (UOL), no chance of David beating Goliath here.

http://www.redas.com/html/showcasing/pavilion%20ll/images/rp_main_building.gifhttp://www.redas.com/html/showcasing/pavilion%20ll/images/project_lp_text.gif

http://www.redas.com/html/showcasing/pavilion%20ll/images/site_plan.jpg

Portion from the article:


Business Times - 22 Mar 2007


The Orchard Residences sets record price

Singaporean pays over $4,080 psf for 53rd level penthouse

By KALPANA RASHIWALA

(SINGAPORE) A Singaporean businessman is said to have paid a benchmark price of over $4,080 per square foot, working out to over $17 million, for a 53rd level penthouse at The Orchard Residences earlier this week. This beats the previous record of $3,450 psf set in December last year for a penthouse at the Marina Bay Residences, which also has a 99-year leasehold tenure.

....


And over in District 11, UOL has sold 40 per cent of its 180-unit condo, Pavilion 11, at Minbu Road.

It began previewing the freehold project last weekend and has achieved an average price of about $900 psf.

Just went to the showflat this evening. Nice ID and layout.

The 270 degree view of the 3 bedroom units is unique and nice. Just don't know about the "liveability", because all of them will either get direct morning sun, or direct afternoon sun.

And the pricing seems reasonable.

Just went to the showflat this evening.

Did the property agent tell you how many units were sold today? or how many units left so far?

who is the architect for this one?

who is the architect for this one?

I think the archi is DP.

Just went to the showflat this evening. Nice ID and layout.

The 270 degree view of the 3 bedroom units is unique and nice. Just don't know about the "liveability", because all of them will either get direct morning sun, or direct afternoon sun.

And the pricing seems reasonable.

I wonder if the windows are made of normal glass or special glass that can prevent transmission of heat into the room.

By the way, UOL is also the developer for the Regency @ Tiong Bahru project which also boast of 270 degree view, meaning lots of glass as well.

I personally think this is really nice to look and difficult to stay ...

Maybe I am not the bare it all kinda of residents ...

Also ... in such open concept ... will people be more tempted to push maids/mother-in-laws/ugly relatives down the 270 degrees window ?

Dont say I never warn u hor ...

YFG ... ...

I personally think this is really nice to look and difficult to stay ...

Maybe I am not the bare it all kinda of residents ...

Also ... in such open concept ... will people be more tempted to push maids/mother-in-laws/ugly relatives down the 270 degrees window ?

Dont say I never warn u hor ...

YFG ... ...

Guru, besides your proposed rating for "waterfront" developments, you should come up with a "Maid Friendly Coefficient" (MFC).

what do you do when there is shortage of sand and granite? use glass la! won't be surprised if steel is used liberally too. this is what the govt call 'alternative' building materials. kek kek

what do you do when there is shortage of sand and granite? use glass la! won't be surprised if steel is used liberally too. this is what the govt call 'alternative' building materials. kek kek

The WTC towers came crashing down because it was made of glass and steel.

The plane didn't directly bring them down. It was the ensuing octane fuelled fire that did it. The steel structures buckled under the high temperatures and everything came buanging down.

The BCA should take note of this fact.

glass is also made of sand what...anyway steel is also a good idea like tokyo. I always believe tokyo look ultra modern because of its metallic buildings.

Just came back from Pavilion 11. Didin't realize it's quite near to Balestier. Probably explain why the price is quite close to those in Balestier.

The living room is quite small if not for the large balcony and planter around it. Most of the units are below $1k psf and it seems pretty reasonable. I guess the size of the balcony is comparable to those in Seaview.

The ERA agent serving me has suggested to me to flip @ $1.2k psf within 6 months. What do you think?

Hi everyone,
I was at the showroom yest at 430pm.... it was like a night market, waited ages for a parking lot and inside there were tons of people, had to wait my turn for an agent to show me around...
Some observations:
1. The condo is really more Balestier than Novena... if u want to drive in from Novena side, u actually have to go up the Tan Tock Seng Hosp road and even tho' I used to work at TTSH, I dun particularly fancy driving right by the hospital drive everyday.. otherwise u have to go in via Balestier rd
2. The address is in District 11, very lucky for developers cos it really should have been a dist 12 which is the Balestier on the OTHER side of the road. If u consider Lincoln Modern, Setia, Evelyn, Newton18 as "true" Dist 11, then Pavillion 11 is really "privileged" to be in the same class
3. The access up the small hill is quite narrow and congested
4. The units which i was interested in were priced bet 1150+ to 1250+ psf... rather steep i must say if u consider this a "Balestier" apartment - i think it must b a benchmark of sorts for this road (but not for Dist 11 of cos)
5. I love the fantastic 270 views u get from the living room - u can actually push all the glass wall panels to the sides creating an amazing open area that looks like a big porch...
6. The two bedrooms are very small - altho' boasting 900+sq ft, a large area is taken up by the balcony
7. Judging from the "SOLD" stickers on the chart yest afternoon, the project is about 75-80% sold and that was just the 2nd day of "official" launch - the agent proudly whispered to me to look at a certain TCS actress there too (as if that will sway my decision to buy?)
8. The HUGE HUGE crowd there means that the buying fever among singaporeans is really running wild - even as i was discussing with the agent, one 28th fl 2br unit which i was eyeing got slapped with a red "SOLD" sticker!

CONCLUSION
MIXED feelings about the project for the reasons listed above.
Anyone there yest?

The Good:

- Good looking building
- Reputable developer
- 270 degree views, perched on elevated land
- Only 180 units on a very large plot
- Secluded and private, quiet at night (also in the day actually)
- Balestier location (food, proximity to the city, Marina, PIE, CTE)

The Bad:

- Price (I would buy for less than $800 psf)
- Balestier location (traffic jams, seedy)


Actually I was quite taken by their marketing, presentation, and product. UOL never disappoints. To me, at least. I also have a belief that Balestier has the potential to be cleaned up and be transformed into a mixed commercial/residential precinct, but don't expect high-end though. CityDev may also know something about that cos they just bought The Albany and Hock <something> Tower. Kwek and Wee are 2 of the shrewdest property players out there.

btw who was the actress there? hehe

Hi everyone,
I was at the showroom yest at 430pm.... it was like a night market, waited ages for a parking lot and inside there were tons of people, had to wait my turn for an agent to show me around...
Some observations:
1. The condo is really more Balestier than Novena... if u want to drive in from Novena side, u actually have to go up the Tan Tock Seng Hosp road and even tho' I used to work at TTSH, I dun particularly fancy driving right by the hospital drive everyday.. otherwise u have to go in via Balestier rd
2. The address is in District 11, very lucky for developers cos it really should have been a dist 12 which is the Balestier on the OTHER side of the road. If u consider Lincoln Modern, Setia, Evelyn, Newton18 as "true" Dist 11, then Pavillion 11 is really "privileged" to be in the same class
3. The access up the small hill is quite narrow and congested
4. The units which i was interested in were priced bet 1150+ to 1250+ psf... rather steep i must say if u consider this a "Balestier" apartment - i think it must b a benchmark of sorts for this road (but not for Dist 11 of cos)
5. I love the fantastic 270 views u get from the living room - u can actually push all the glass wall panels to the sides creating an amazing open area that looks like a big porch...
6. The two bedrooms are very small - altho' boasting 900+sq ft, a large area is taken up by the balcony
7. Judging from the "SOLD" stickers on the chart yest afternoon, the project is about 75-80% sold and that was just the 2nd day of "official" launch - the agent proudly whispered to me to look at a certain TCS actress there too (as if that will sway my decision to buy?)
8. The HUGE HUGE crowd there means that the buying fever among singaporeans is really running wild - even as i was discussing with the agent, one 28th fl 2br unit which i was eyeing got slapped with a red "SOLD" sticker!

CONCLUSION
MIXED feelings about the project for the reasons listed above.
Anyone there yest?

For that kind of price (1150-1250) or even cheaper you can easily get sub-sale units in "true" Dist 11, like Park Infinia, Strata, Newton Suites and even Lincoln Modern . Sometimes I wonder, if buyers have really done their research properly. I mean, if they are in only for flipping and thus the attraction of deferred payment (as compared to sub-sale units where deferred payment is difficult), then I wish them luck since at that kind of prices, they have to wait quite a bit of time before they can make a decent profit. If they are buying for staying, then they must really be silly paying that kind of prices when for the same prices you can get true blue Dist 11 brand new condos 5 minutes from MRT/amenities.

I was there yesterday too. From your interested range of $1150 to $1250, you must must looking at pretty high floor 2 bedroom unit. The best view 25th floor 3 bedroom I have asked is only about 1010psf.

The only thing I like about this project is the so called City view at the high floor. But, to secure that view, I supposed you have to get really high floor. The downside to this is the number of medical facilities surrounding the project. :ohno: There are TTSH, Renci Hospital, Hospice Care Association, Tuberculosis Control Unit, Dept of Clinical Epidemiology, National Skin Centre and CDC. Gosh, I didn't realized that there were so many until I took a closer look at the streetdirectory. :lol:

Hi everyone,
I was at the showroom yest at 430pm.... it was like a night market, waited ages for a parking lot and inside there were tons of people, had to wait my turn for an agent to show me around...
Some observations:
1. The condo is really more Balestier than Novena... if u want to drive in from Novena side, u actually have to go up the Tan Tock Seng Hosp road and even tho' I used to work at TTSH, I dun particularly fancy driving right by the hospital drive everyday.. otherwise u have to go in via Balestier rd
2. The address is in District 11, very lucky for developers cos it really should have been a dist 12 which is the Balestier on the OTHER side of the road. If u consider Lincoln Modern, Setia, Evelyn, Newton18 as "true" Dist 11, then Pavillion 11 is really "privileged" to be in the same class
3. The access up the small hill is quite narrow and congested
4. The units which i was interested in were priced bet 1150+ to 1250+ psf... rather steep i must say if u consider this a "Balestier" apartment - i think it must b a benchmark of sorts for this road (but not for Dist 11 of cos)
5. I love the fantastic 270 views u get from the living room - u can actually push all the glass wall panels to the sides creating an amazing open area that looks like a big porch...
6. The two bedrooms are very small - altho' boasting 900+sq ft, a large area is taken up by the balcony
7. Judging from the "SOLD" stickers on the chart yest afternoon, the project is about 75-80% sold and that was just the 2nd day of "official" launch - the agent proudly whispered to me to look at a certain TCS actress there too (as if that will sway my decision to buy?)
8. The HUGE HUGE crowd there means that the buying fever among singaporeans is really running wild - even as i was discussing with the agent, one 28th fl 2br unit which i was eyeing got slapped with a red "SOLD" sticker!

CONCLUSION
MIXED feelings about the project for the reasons listed above.
Anyone there yest?

Most of the 3 bedroom units (25th floor and below) are priced below $1k.

The project is at the junction or Akyab Road and Minbu Road. Is this Novena or Balestier? :lol:

For that kind of price (1150-1250) or even cheaper you can easily get sub-sale units in "true" Dist 11, like Park Infinia, Strata, Newton Suites and even Lincoln Modern . Sometimes I wonder, if buyers have really done their research properly. I mean, if they are in only for flipping and thus the attraction of deferred payment (as compared to sub-sale units where deferred payment is difficult), then I wish them luck since at that kind of prices, they have to wait quite a bit of time before they can make a decent profit. If they are buying for staying, then they must really be silly paying that kind of prices when for the same prices you can get true blue Dist 11 brand new condos 5 minutes from MRT/amenities.

Most of the 3 bedroom units (255h floor and below) are priced below $1k.

The project is at the junction or Akyab Road and Minbu Road. Is this Novena or Balestier? :lol:

Technically it could be in Novena or maybe developers have been cleverly marketing their projects in that area as Novena projects. For the passerby/visitor , he will definitely tell you it is Balestier.

The CDC is actually occupying such a huge premium land area. I think it is a matter of time before they get resited in Jurong/Sembawang/Chua Chu Kang where land is much chepaer and this land will then be sold to developers.

Or perhaps being central is ideal for CDC as it is easier everybody to go in case of a major disease breakout. :lol:

Technically it could be in Novena or maybe developers have been cleverly marketing their projects in that area as Novena projects. For the passerby/visitor , he will definitely tell you it is Balestier.

The CDC is actually occupying such a huge premium land area. I think it is a matter of time before they get resited in Jurong/Sembawang/Chua Chu Kang where land is much chepaer and this land will then be sold to developers.

Just some thoughts:

Notice unit 01 02 03 will be blocked by Mandalay apartments and Ansley.....thats why they are cheaper than 06 and 07.

05 is blocked by front block...06 and 07 may be blocked by ?Chong Kim right in front and that too has a 2.8 plot ratio.

07 may be blocked on its right flank when the old Renciwards disappear, as they will when the new Renci Hospital is up.

My humble opinion: UOL has a tendency to surprise.see Twin Regency was surprised by Regency Suite rising in front of it. Dont be surprised if Regency suite is surprised by what comes up at the old temporary Tiong Bahru site.........

Asciano ...

I wont be surprised if they are again out to surprised but people who bought thinking that they wont be surprised are very likely to be surprised !

I am convinced that most of the units are or will be blocked.
The best is probably 06 low floor ... cheap and nice and got pool view ...
And of course 500 other people think the same way as me and those are all sold out ...

Dont be surprised! Consult your Guru ...

YFG ... ...

so is this project sold out?

so is this project sold out?

Yes..........:cheers:

wow, another sold-out project.

wah... prop market so hot now.

Private home prices up 4.6% in first quarter 2007: URA flash estimates
By Daryl Loo, Channel NewsAsia | Posted: 02 April 2007 2318 hrs


SINGAPORE: Prices of private residential properties have continued to climb - marking their largest quarterly gains in seven years during the first three months of the year.

According to initial estimates out today, private home prices rose by 4.6 per cent, compared to the previous quarter.

The high end sector continued to lead the climb in private home prices in the first quarter of this year.

Apartments in the newly-defined Core Central Region booked the biggest jump of 5.6 per cent.

The region includes Sentosa, Marina Bay, and postal districts 9, 10, and 11.

"Due to the spate of collective sales, we are seeing more and more projects in the price range of $2000 to $3000 per square foot being launched. And confidence breeds confidence, so developers are continuously putting up projects at higher and higher prices. And the robust demand from foreigners has continued to give support to this price rise," said Tay Huey Ying, Director of Research, Colliers International.

Prime properties sold at above $2000 per square foot during the period include units at St Regis Residences and The Orchard Residences, both in the Orchard area.

In the rest of the Central Region, prices rose by 2.9 per cent - while properties outside the Central Region saw a climb of 2.6 per cent.

"We're actually seeing the bullish price growth in the luxury and high-end tiers filtering down to the lower tiers, and this is becoming more broad-based. So the broad-based recovery in prices will lift property prices further in the coming quarters," said Tay.

Analysts say that for the whole year - private home prices could climb by about 15 per cent - up from 10.2 per cent last year.

Amazing they couldn't even put in a tennis court at a relatively big site. The Ansley nearer to Novena has only 100 units and comes with a tennis court, but Pavillon 11 has 180 units and can't squeeze in a tennis court. Amazing.

I guess a tennis court takes up premium space if land space is constricted. But, personally prefers developments with tennis courts.... they are good for a family game, rentals, etc.

definitely agree that tennis courts are good. these days, developers dont build tennis courts anymore to maximise built up space.

which is why i quite like Montebleu - it has a tennis court and a sky terrace on the whole of the 14th floor. so can enjoy view even when you buy a low unit. :lol:

anyhow, this area is the place to be. not only because it is district 11. the govt also says it will develop the balestier area, it's kinda like the next river valley area - ppty prices will soar!

anyway, was checking out both Pavillion 11 and Montebleu. much prefer Montebleu - for its facilities and it has luxurious finishings that are better than Pavillion 11.

1 June 2007

It has risen rapidly

http://i10.tinypic.com/4pkoq5d.jpg

That bungalow looks vulnerable. :eek:

January 08

http://farm4.static.flickr.com/3007/2373708368_615be22ed8_o.jpg

This was taken by hkskyline

http://www.globalphotos.org/singapore/20080120/IMG_6706.jpg

August 08

http://i77.photobucket.com/albums/j67/RCSSC/pavilion1508.jpg

Has this project TOP?

Saw about 3 units fully done up and people living in already. Really imposing structure at night as the stairwell is exposed and very brightly lighted when viewed from Balestier Road.

Yes. A friend of mine is doing renovation and moving in soon.

the rent there seem to be so so.

the rent there seem to be so so.

Any idea what's the asking?

A unit at Pavilion 11 was transacted at $1,482 psf on 1st April this year.