Paramount Hotel & Shopping Centre sold to Orchard Mall
By Travis Teo | Posted: 26 November 2010 2103 hrs
SINGAPORE : Paramount Hotel & Shopping Centre has been sold to Orchard Mall for S$214 million.
This is the biggest collective sale in the commercial property market this year.
The site comes up to nearly 102,000 square feet and has a gross plot ratio of up to 3.0 Jones Lang LaSalle, manager of the sale, said the freehold site has a potential gross floor area of up around 308,000 square feet.
This works out to approximately S$1,178 per square foot, per plot ratio. While the site was zoned for use as a hotel under a previous Master plan, Jones Lang LaSalle said that it has varied redevelopment options such as hotel, commercial, residential, or a combination of the three, subject to planning approval from the authorities.
The site currently holds a 229-room hotel and shopping complex comprising a four-storey podium and an eight-storey tower block.
Quek Soh Hoon, national director and head of commercial at Jones Lang LaSalle, said that the bids signalled a strong interest for this rare, prime, freehold redevelopment site.
She added that Jones Lang LaSalle is confident of the potential that the site could offer due to the accessible location and the nearby amenities.
- CNA/ms
- wong chee tat :)
Friday, November 26, 2010
d'Leedon new condo at former Farrer Court site
d'Leedon new condo at former Farrer Court site
Posted: 25 November 2010 2244 hrs
SINGAPORE: A consortium led by developer CapitaLand has unveiled a new development on the site of the former Farrer Court.
Called d'Leedon, the new condominium along Farrer Road will have 1,715 units built on the 840,049-square-foot site.
They comprise 1,703 apartments in seven 36-storey residential towers and 12 exclusive semi-detached houses.
CapitaLand says the residential towers occupy only 22 percent of the site, freeing up a landscaped area of over 650,000 square feet dedicated to greenery and recreational facilities.
The first preview sales to former owners of Farrer Court will be held this weekend, followed by the public launch. This first launch will be for 200 choice units located across all floors in two residential towers, with unit types ranging from one-bedroom-and-study to four-bedroom units. The average price of the units is S$1,680 per square foot.
d'Leedon also features a cluster of 80 units specially designed to be elderly-friendly.
- CNA/ir
- wong chee tat :)
Posted: 25 November 2010 2244 hrs
SINGAPORE: A consortium led by developer CapitaLand has unveiled a new development on the site of the former Farrer Court.
Called d'Leedon, the new condominium along Farrer Road will have 1,715 units built on the 840,049-square-foot site.
They comprise 1,703 apartments in seven 36-storey residential towers and 12 exclusive semi-detached houses.
CapitaLand says the residential towers occupy only 22 percent of the site, freeing up a landscaped area of over 650,000 square feet dedicated to greenery and recreational facilities.
The first preview sales to former owners of Farrer Court will be held this weekend, followed by the public launch. This first launch will be for 200 choice units located across all floors in two residential towers, with unit types ranging from one-bedroom-and-study to four-bedroom units. The average price of the units is S$1,680 per square foot.
d'Leedon also features a cluster of 80 units specially designed to be elderly-friendly.
- CNA/ir
- wong chee tat :)
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