Lorong N Telok Kurau Land En Bloc SOLD

Owner’s Christmas & New Year Wish Was Granted as Buyer Arrived at Their Doorstep and Sold En Bloc

The Last Batch of Owners in 2020 that Taste Collective Sale Success

Towards the end of December 2020, the combine site of 93B, 93C and 95 Lorong N Telok Kurau was successfully sold en bloc at S$23.6 million.

The exciting news was announced by PropNex Singapore, their exclusive marketing agent also the one who brokered the deal.

The freehold site was launched on the 19 November and successfully closed on the 29 December 2020.

It was acquired by Baywind Properties Pte Ltd which is a joint venture between LWH Holdings Pte Ltd and ABR Holdings Limited.

The combined freehold land is 18,507 sq ft and zoned under residential plot ratio 1.4, subject to URA approval, the site can be redeveloped into 24 units of boutique apartments.

The appeal of this site has seen a number of interests from both local developers and overseas investors.

Various Attractions and Amenities Around The Site Attracts Buyer’s Attention

Ms. Tracy Goh, head of the investment and collective sale said that there were keen interests from various parties.

Many of the buyers were looking to acquire lands to build boutique apartments as confidence have risen among local developers and new entrants where they believe that local demand to upgrade to new condominiums or apartments will continue to rise in the coming months.

This is not surprising as the recent new launches at The M, The Linq, Penrose and The Clavon all saw take up rates of 70% and more, thus propelling the positive outlook for real estate and depleting inventory from the market.

The recent Tanah Merah GLS land saw 15 enthusiastic bidders for land to build condominium and had set a new record land price at Tanah Merah at $930 psf ppr.

This has fueled market talk of a revival for collective sales.

Excitement has risen among past collective sales owners where they had not managed to garner a buyer and many of such sites are re-starting their collective sales and more new sites are also expected to join in the fray.

As the New Launch Sales Numbers Keep Growing and Appealing to the Developers, They Now Rushing to Acquire Lands To Meet the Demanding Buyers

The pandemic has not dampened the mood as buyers commit to real estate purchases as many are looking at the long-term picture.

To time the market to commit has proven many wrong in the past as real estate prices kept their ascent determinedly for past decades and buyers now are not daunted by the economic recession or the challenges that are facing the world economies right now.

Singapore is expected to emerge stronger from the pandemic and that expectation has driven positive outlook for the year 2021 and we do expect to see a revival of collective sales in the months to come.

Now time is of essence for collective sale owners. The ready ones are likely to be rewarded with interest from developers who had done well in the past few years.

Ready for Collective Sale? Contact Ms. Tracy Goh for a private and confidential discussion.