Consortium pays record $1,449 per sq ft per plot ratio for the estate
JOINT EFFORT: The group - comprising Koh Brothers, Heeton, KSH and Lian Beng -
is paying $243 million for the site near Goldhill Plaza.
A GROUP of four property and construction firms has paid a benchmark price for a site in Newton, betting that home prices in the area will surge over the next two years.
The consortium of Koh Brothers Group, Heeton Holdings, KSH Holdings and Lian Beng Holdings forked out $243 million for Lincoln Lodge off Newton Road.
Owners at the 98-unit estate will each get between $1.89 million and $3.07 million.
The consortium's price works out to $1,449 per sq ft per plot ratio (psf ppr) for the 59,984 sq ft site - a record land price for the Newton area, said Newman & Goh, which marketed the estate.
The previous record was held by Gilstead View, which was sold for $1,070 psf ppr last month.
Newman & Goh's head of investment sales, Mr Jeffrey Goh, believes that a new development on the Lincoln Lodge site could fetch $2,500 psf.
This bullish projection is 'riding on the announcement of SC Global's The Marq, which is targeted to fetch $4,000 psf', he said.
SC Global said on Tuesday that its latest project at Paterson Hill in the prime Orchard Road area will be sold at average prices of $4,000 psf.
But although Newton homes are still considerably cheaper than those in Orchard, Mr Goh is confident that their prices are set to soar.
'Already, we have heard that some upcoming launches in the Newton area will be priced above $2,000 psf,' he told The Straits Times.
'Going forward, 18 months down the road, it shouldn't be a problem for a new project on the Lincoln Lodge site to fetch $2,500 psf, and maybe even up to $2,700 psf.'
The record for homes in the Newton area is believed to be held by Scotts HighPark. The project, at Scotts Road next to Newton MRT Station, has fetched slightly more than $2,000 psf for a handful of units.
But closer to Lincoln Lodge, which is on Khiang Guan Avenue near Goldhill Plaza, most newer condominiums sell for only between $1,100 psf and $1,450 psf.
Units at the neighbouring Newton Suites, for instance, have changed hands for an average of $1,300 psf in the past two months. Nearby, Park Infinia at Wee Nam is selling for $1,200 psf and above.
Lincoln Lodge's break-even price is expected to be about $2,000 psf ppr, said Mr Goh.
A 36-storey project with 120 apartments of 1,600 sq ft each can be built on the site, said Koh Brothers yesterday.
The shares of all four partners, which own equal stakes in the project, rose yesterday.
Koh Brothers was up 1.5 cents at 55.5 cents; Heeton Holdings advanced 0.5 cent to 98.5 cents; KSH Holdings added four cents to 87 cents; and Lian Beng increased 2.5 cents to 44 cents.
喜敦、许兄弟 金成兴、联明 四上市公司组财团建豪宅
(2007-06-22)
本地豪华私宅项目的价格最近屡创新高，多家本地建筑商纷纷改投发展私宅领域，尤其是豪华私宅项目的发展。
由四家上市公司组成的财团昨天就宣布以2亿4300万元争取到位于第11邮区的林肯苑（Lincoln Lodge）的发展权，并计划把它重新发展为豪华私宅项目。
这四家公司是喜敦控股（Heeton）、许兄弟（Koh Brothers）、金成兴控股（KSH Holdings）和联明建筑（Lian Beng），它们各自持有财团的25％股权。当中除了喜敦控股外，其余的都是建筑商出身。
林肯苑处于纽顿路旁的乾元道上，总面积为5572.7平方公尺，建有两座分别15层楼高和12层楼高的公寓大楼，共有98间面积介于76平方公尺和154平方公尺的公寓单位。
这块永久地契地段将可重新被发展为一座36层楼高的公寓大楼，里头共有120间平均面积1600平方英尺的豪华公寓单位。
除了林肯苑外，许兄弟和喜敦控股在两个月前也宣布在第9邮区的利安尼山（Leonie Hill）联合发展的永久地契豪华私宅项目The Lumos。
许兄弟董事经理兼总裁许庆祥说：“林肯苑的地点优越，处于第11邮区。市场对市区内豪华私宅项目的需求增长强劲，再加上日益增加的住宅租金，我们有信心，林肯苑可以重新发展为一个具有市场需求和投资价值的豪华私宅项目。”
许庆祥也说：“财团从各合作伙伴中找到了协同效益，我们会继续寻找更多、更大的私宅发展商机。”
联明建筑执行主席王邦益在受访时说，四家公司的老板都看准新加坡豪华私宅项目未来的潜能，并认为现在是进军这个领域的好时机。
建筑发展相结合
他说，发展豪华私宅项目的回报具有吸引力，而身为发展商和建筑商，能取得的回报肯定更高，因此大家决定把握时机，结合起来一同参与豪华私宅项目的发展。
王邦益也指出，身为建筑商也有另一个优势，建筑商和发展商的关系一向密切，对发展商的工作非常清楚，因此建筑商参与私宅发展领域可以说是事半功倍。
王邦益说：“我与其他三家公司的老板都是好朋友，在一次聚会上，大家谈起发展豪华私宅项目的庞大潜能，之后便决定把握时机，合资设立财团往这个领域发展。”
王邦益也说，豪华私宅项目的投资额极高，风险也偏高，因此几名上市公司的老板才决定结合力量，一同出击。“不是说联明建筑独自没有能力承办林肯苑的发展项目，但它需要大笔的投资，而每家公司都得考虑到所能承担的风险。唯有大家一起合作，力量才较大，风险也能够分散。”
虽然联明建筑过去曾参与过另外两个私宅项目的发展，但林肯苑是联明至今所参与的最大私宅发展项目。王邦益也透露，林肯苑只是财团扩展计划的第一步，它不会停止在一个发展项目上，新加坡的豪华私宅市场今后若有好的项目或商机，财团还会再出击。
王邦益在访谈中也坚持，联明建筑不会放弃在建筑业里的业务，毕竟新加坡建筑业的前景明朗，两个综合度假胜地（IR）和多个集体出售项目的发展都需要建筑商的辅助。
四家公司昨天通过文告表示，会在较迟的日期公布林肯苑重新发展项目的详情。
No comments:
Post a Comment