Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven

Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven
Presented to you by Property Smart Investor- A Real Estate Online Education and Discussion

Thursday, 21 March 2019

Golden Wall Centre sold en bloc for $276.2m to Hotel 81 owner


Golden Wall Centre sits on a 2,251.9 sq m commercial site near Little India, and an application for hotel use has been approved.
Golden Wall Centre sits on a 2,251.9 sq m commercial site near Little India, and an application for hotel use has been approved

PUBLISHEd
NOV 27, 2018 ST

Dist 07, Zoned: Full Commercial Land
89 Short Street S(188216)
Tenure: Freehold
Landsize: 2,251.9 sq m (24,240 sqft)
Sold $176.2 Mil to Hotel 81 Owner
Price 2,331 psf ppr
Change of use: Approved Hotel by URA
Approved GFA: 11,008 sqm or 118,490 sqft
(Equivalent to: New Plot Ratio: 4.88)
Original Plot Ratio: 4.2 (Master Plan)
Original GFA: 101,979 sqft (4.2 / 4.88 x 118,490)
Bonus GFA: 10.7%


Freehold Golden Wall Centre near Little India has been sold in a collective sale deal for $276.2 million to a unit owned by the firm that runs the Hotel 81 chain.
The winning bid from the Worldwide Hotels unit was about 6 per cent above the reserve price of $260 million and came in at $2,331 per sq ft per plot ratio.
An application for hotel use at the existing approved gross floor area of 11,007.929 sq m (118,490 sqft), reflecting an equivalent plot ratio of 4.88, has been approved by the Urban Redevelopment Authority.
The 2,251.9 sq m (24,240 sqft) commercial site is located near Rochor MRT station on the Downtown Line and within 400m of the Little India MRT interchange.
It occupies a prominent corner plot with a 180m triple frontage boasting high visibility along the main thoroughfare of Rochor Canal Road as well as Short Street and Albert Street.
The plot of land is also within the Beach Road/Ophir-Rochor Corridor, which is envisioned to be a vibrant mixed-use cluster, so it should benefit from the ongoing rejuvenation and transformation of the area.
ET&Co handled the collective sale. Its senior director of investment advisory Swee Shou Fern said: "With its strategic city fringe location, prominent triple frontage and proximity to the arts, heritage and cultural districts, Golden Wall Centre is ideal for a hotel development."
ET&Co is also handling the ongoing collective sale of Golden Mile Complex, a landmark commercial property in Beach Road. The tender closes at 3pm on Jan 30.






Thursday, 25 October 2018

Retail Shop – Adelphi Night Club (SALES) - Commercial


Retail Shop – Adelphi Night Club (SALES) - Commercial
Property Information
Development:                           The Adelphi (Close at 10pm)
Developer:                                Capital Land
District:                                    06
Address:                                   1 Coleman St, Singapore 179803. Mgmt Office: 63399179
Unit Number:                            #B1-32 (Don’t reflect in Portal)
Tenure:                                     999 years from 12/05/1828
Completed / TOP:                     Unknown
Type:                                        Retail Shop (Approved for Night Club up to 4am by URA)
Land Size / Site Area:               NA
Strata Size / GFA:                     4,091sf
Plot Ratio:                                7.0 (Full Commercial Building)
Unit Location:                           Corner unit (Near Escalator)
Number of Bed rooms:              NA
Number of Toilets:                    1 Male, 1 Female (plus common toilet in the building)
Directional Facing:
-        Door Facing:                
-        Window Facing:          
View Facing:                            No View because located at Basement 1
Level:                                       Low Floor (#B1)
Ceiling Height:                        
Viber Ready:                           
Occupancy:                              Vacant / Tenanted / Owner Occupied
Condition:                                Fully Fitted for Night Club
Aircon Hour:                            No Limit (Individual, not Building)
Frontage:                                  Good Frontage
Location Amenities:                  MRT (City Hall 0.28km) 5min Walk. Eateries, Shopping Belt
Maintenance Charges:               $
Unit Parking Entitlement:          Season Parking (382 parking lots, 4 basement levels of parking space)
Season Parking:                        $ (Car part close from 1am to 6am)
Parking Entitlement:                  First come First serve
Total Number of Units:             Unknown
Facilities:                                  NA
Electrical Loading:                    3 Phase, 230/240V
Floor Loading:
Other Description:                     Stage, 24 KTV Rooms?
Seller need Extension:               No
Need Contra:                            No
Transaction / Pricing Information
Asking Price:                            $13.5M
Closing Price:                          
GST:                                        No
X-Value:                                  Not Available
Transacted Price Range:                        $1,858psf (#03) to $4,761psf (#01)
Number of Listings:                  33 listings (based on Freehold)
Listing Price Range:                  $2,876psf to $4,000psf
Frequency of Transaction:         5 sales per year
Tenancy Information (If Tenanted)
Monthly Rental:                        $36,000 (432,000/year) (Fully Fitted as Night Club with KTV and Liquor license)
Tenancy Period:                        3 years (Sep 2015 to Sep 2018)
Tenancy Expiry:                        Sep 2018
Tenant Company Name:
Tenant Trade:                           Night Club, KTV
Length of Occupancy till now:   2 and half year
Rental Yield:                            3.2% (based on 7.2M)
Owner Name:                           Rajesh
Private Info:                              Bought 9.7M (2371psf) on 30 Sep 2015

Wednesday, 24 October 2018

Property Listings Content Page


Property Listings Content Page

Active Listings

Residential Sales

Costa Rhu - 2,065sf - Benedict 05-14. PG
Costa Rhu - 2,065sf - Benedict 05-14. SRX

Jalan Daud - Land 2681sf Build-up 4286sf - Steve Wong 26B. PG
Jalan Daud - Land 2681sf Build-up 4286sf - Steve Wong 26B. SRX

Northoaks - 2,348sf - Papa Jeff 15-36. PG
Northoaks - 2,348sf - Papa Jeff 15-36. SRX


Residential Rent

Rochester - 872sf - Kim On 33-10. PG
Rochester - 872sf - Kim On 33-10. SRX

Commercial Sales

Concorde Hotel Night Club - 1206sf - Connie 02-13/14. PSI



Commercial Rent

Retail Shop – Concorde Hotel Night Club (SALES) - Commercial


Retail Shop – Concorde Hotel Night Club (SALES) - Commercial
Property Information
Development:                           Concorde Hotel  
Developer:                                NA
District:                                    09
Address:                                   100 Orchard Road. Singapore 238840
Unit Number:                           #02-13/14 (Don’t reflect in Portal)
Tenure:                                     99 years from 17/08/1979 (39 years old)
Completed / TOP:                     Unknown
Type:                                        Retail Shop (Permanently Approved for Night Club up to 6am by URA since 19/2/12)
Land Size / Site Area:               NA
Strata Size / GFA:                     1,206sf (603sf/unnits x 2 units)
Plot Ratio:                                4.9
Unit Location:                           Corner unit (Near Escalator) Next to Gym
Number of Bed rooms:              NA
Number of Toilets:                    No toilet inside retail unit, use common toilet in the building
Directional Facing:
-        Door Facing:                 North-East (13 deg N)
-        Window Facing:           South-West
View Facing:                            Orchard Road
Level:                                       Low Floor (#02)
Ceiling Height:                        
Viber Ready:                           
Occupancy:                              Vacant / Tenanted / Owner Occupied
Condition:                                Fully Fitted for Night Club
Aircon Hour:                            No Limit (Individual, not Building)
Frontage:
Location Amenities:                  MRT (Dhobby Ghuat 0.36km) 5min Walk. Eateries, Orchard Shopping Belt
Maintenance Charges:               $675/unit (675 x 2 units = $1350)
Unit Parking Entitlement:          Season Parking
Season Parking:                       
Parking Entitlement:                  First come First serve
Total Number of Units:             Unknown
Facilities:                                  NA
Electrical Loading:                    3 Phase, 230/240V
Floor Loading:
Other Description:                    
Seller need Extension:               No
Need Contra:                            No
Transaction / Pricing Information
Asking Price:                            $7.2M
Closing Price:                          
GST:                                        No
X-Value:                                  Not Available
Transacted Price Range:                        $2,543 to $4,029psf (based on land size)
Number of Listings:                  131 listings (based on Freehold)
Listing Price Range:                  Based on GFA
Frequency of Transaction:         1 units in 4-5 year
Tenancy Information (If Tenanted)
Monthly Rental:                        $22,000 (Fully Fitted as Night Club with KTV and Liquor license)
Tenancy Period:                        3 years (Apr 2018 to Apr 2021)
Tenancy Expiry:                        Apr 2021
Tenant Company Name:
Tenant Trade:                           Night Club, KTV
Length of Occupancy till now:   New Tenant just started. Previous Night Club tenant retired
Rental Yield:                            3.67% (based on 7.2M)
Owner Name:                           Connie
Private Info:                              No record from SRX



Sunday, 30 September 2018

HDB Resale Procedure and Timeline For Buyers



From 1 January 2018, resale flat buyers and sellers will need to login to the HDB Resale Portal using their SingPass, to start their buying or selling journey.


Buyer: The portal will guide you through the following steps:-

1.  Register Intent to Buy via HDB Resale Portal 
     - The date of register intent to Buy can be the SAME date of granting of OTP
     - Buyer has to login with their SingPass 
     - Agent (Salesperson) cannot submit on behalf of the buyer
     - Immediately get a completed pdf confirmation after submission
     - Intent to Buy is valid for 12 months
     - It will state the types of grant you are eligible

2.  Choose Mode of Financing (HDB Loan or Bank Loan?)
     - For HDB Loan, need to apply for a valid HLE (Valid for 6 months)
     - HLE stands for HDB Loan Eligibility or Home Loan Eligibility 
     - It will takes 2 weeks to be approved
     - Valid for 6 months
     - Need to have the HLE before Seller can grant you (buyer) the OTP
     - For Bank Loan, need a valid LO before exercising the OTP
     - LO stands for Letter Of Offer from Bank (Financial Institution) 
     - Get a IPA before searching of flat or before OTP
     - After OTP granted, buyer request for valuation using HDB e-Resale Portal
     - Have to provide to the bank the OTP and the Valuation in order to get LO

3.  Search for Suitable Flat, Negotiate and decide on price with Seller

4.  Get Option to Purchase (OTP) from Seller. Before OTP do take note of the following
     - Important Notes on OTP (Please read through thoroughly)
     - Buyers have 21 days to Exercise OTP. 
     - Whether Sellers or Buyers need to Contra Form 
         - Fill up the 'Application for Enhanced Contra Facility' Form)
     - Whether Sellers requires to Extend to stay after completion. Fill up the Request for Temporary Extention. (Only Contra Party can extend if there are 3 parties. Fill up the Request for Temporary Extension to stay form, Cannot exceed 3 months)

During the 21 days

5.  Decide Mode of Financing
     - For HDB Loan, you must have a valid HLE by now, before Seller grant you OTP 
     - Date of HLE MUST be before Date of OTP
     - For Bank Loan, after Seller grant OTP, together with Valuation, apply to bank to get a Valid LO before you exercise the OTP
     - Date of LO MUST be before the date of Exercising the OTP
     - Send a copy of the OTP (not exercised yet) to the banks

6.  Buyer or Agent (Salesperson) has to Submit Request for Valuation through the HDB e-Resale Portal
     - The date of register intent to Buy can be the same date of granting of OTP
     - Agent (Salesperson) can submit on behalf of buyer
     - Recommended the with the next working day or within 24 hours after OTP granted (that means can do submission immediately after exercising)
     - OR within the 21 days of Option period. 
     - Recommended to submit soonest because the valuation report needs about 7 days.
     - Terms and Condition for Request For Valuation
     - Login to HDB e-Resale Portal to Apply for HDB Request for Valuation
     - Image or pdf of the 1st page of OTP will do
     - Only detail of 1 seller will do (esp Seller Hp and email so at to be notified)
     - Buyer Hp and email

7.  Received a Valid Valuation Report from HDB
     - Within 2-3 days (HDB will normally state 7 days)
     - Send a copy of the valuation report to the bank

8.  Exercise OTP within 21 days (after you have HLE/LO and Valuation)

9.  Submit Resale Application after you have exercised the OTP
     - Agent (Salesperson) can submit on behalf of buyer or seller
     - Buyers and Sellers discuss and decide on completion date
     - Either Seller or Buyer can submit 1st, the 2nd party has to submit within 7 days (After 7 days, has to resubmit again)
     - Login to HDB e-Resale Portal to Submit for Resale Application
     - Scroll down to (A) below for all the steps

10. Acknowledge Resale Documents

11. Pay Fees (Online Payment)

12. HDB Approval of Resale

13. Wait for Completion letter from HDB Resale (Generally about 8 weeks from Resale Submission)

13. 1 or 2 days before completion, make appointment with Seller to inspect the house for vacant passion.


14. Completion of Resale and take over of keys at HDB. If buyers use bank loan, the Lawyer can represent you to take over the keys, you don’t need to be presence.


(A) Procedure to submit resale application for buyer online

      - Click HDB e-Resale Portal
      - Click Scroll all the way down, click Submit Resale Application

      - Section 1: Terms and Condition
      - Click I am the Saleperson -> Drop down, select Engaged by buyer 
         -> Drop down, select Buying a HDB Flat -> Click I Accept -> Login via SingPass
      - Key in Estate Licence No. -> Continue


Note: You can Click Save as Draft anytime
To Retrieve, follow the above (A) Procedure to login with SingPass,
-> Select Draft Application -> Next

      -PART 1: Flat and OTP Detail 

        -> Key in Flat Address -> Next
        -> OTP Detail -> OTP Serial Number -> Option Grant Date -> Option Exercise Date
        -> Purchase Price -> Option Fee -> Deposite -> Next

      - PART 2: Buyer's Particular or Household Particular
        - Buyer 1: Full Name - NRIC - Gender - Citizenship - Nationality - Marital Status - DOB
                       - Ethnic Group - Mobile number - Email Address 
                       - Gross Monthly Income - Mailing Address 
                       - Manner of holding HDB (Joint Tenancy/Tenancy-in-common/Sole Owner)
        - Buyer 1: Full Name - NRIC - Gender - Citizenship - Nationality - Marital Status - DOB
                       - Relationship to Buyer 1
                       - Ethnic Group - Gross Monthly Income
        - Occupier's Particular   
                       - Full Name - NRIC - Gender - Citizenship - Nationality - Marital Status - DOB
                       - Relationship to Buyer 1

                       - Ethnic Group - Gross Monthly Income

      - PART 3: Loan & Grant

                     - GRANT
                     - 1. I have checked that I am eligible and would like to apply for the CPF Housing Grant    (Yes/No)
                     - 
Reasons for not applying housing grant:
                       - The average gross monthly household income is more than S$7,000.
                        - I want to reserve the CPF housing grant for future purchase of resale flat.
                       - I am unable to produce income document proof.

                        - Other reasons
                      - 2. I have checked that I am eligible and would like to apply for the Proximity Housing Grant        (Yes/No)

If NO              - Reasons for not applying proximity housing grant:
                       - I want to reserve my PHG for future purchase of resale flat
                        - I am not staying together/near my parents/ married child/ single child aged 35 or above
                        - Other reasons
IF YES         - Specify which grant:
                       - Proximity Housing Grant for Family
                        - Proximity Housing Grant for Singles
                          - Live together with your parents or married child or single child aged 35 or above 
                             ($15,000)
                          - Live near (within 4 km) your parents or married child or single child aged 35 or above 
                             ($10,000)
                          - Proximity Housing Grant for Joint Singles

                     - HOUSING LOAN
                     - The buyer(s) is/are
                       - taking a housing loan from HDB
                        - taking a housing loan from a financial institution regulated by Monetary Authority of
                          Singapore
                       - not taking a housing loan for this purchase.
      - If taking a bank loan, please ensure the LO is granted before exercising
      - Furnish the following details
         - Date of Issue of LO - Date of Acceptance of LO - Loan Tenure - Loan Amount
         - Bank Corresponding Address

      - PART 4: Declaration

        - 1. Is/Are the buyer(s) applying for the Enhanced Contra Facility?  Yes/No
        - 2. Do you, your co-buyers or occupiers through a nominee or otherwise own or acquire any 
               interest in a private property in Singapore or overseas?             Yes/No
        - 3. Is any of the buyer(s) represented by a Power of Attorney?
        - 4. Is any of the buyer(s) represented by a Donee under a Lasting Power of Attorney?
        - 5. Is any of the buyer(s) represented by a Deputy/Committee appointed under a Court Order?
        - 6. Is/Are the buyer(s) intending to engage HDB's conveyancing service to act in the flat purchase?
              If NO, Provide Law firm detail
              - Name of Law firm - Correspondence Address - Email - Contact
        - 7. Is any buyer an undischarged bankrupt
             (a) buying a resale flat bigger than 5-room or a 3Gen-flat, or
             (b) buying a resale flat with net purchase price of $500,000 and above?
         - 8. Do the buyer(s) agree with any request made by the seller(s) to continue staying in the flat 
                after the resale completion date?           Yes / No / NA

      - PART 5: Review

      - PART 6: Document Upload


Document(s) Preparation

Flat Address:   _________
Contact number of Buyer:_
Case Number:________


(i) To facilitate the processing of the resale application, below is a list of document(s) that is required. You will need the following softcopy document(s) before proceeding. If you have more than one document to submit, we recommend that you scan multiple pages into a single file and save your file in the Portable Document Format (PDF). For example, if you need to submit 'Letter of Offer from Bank' and 'Power of Attorney', please save the 'Letter of Offer from Bank' in one PDF file and 'Power of Attorney' in another PDF file.
(ii) If the documents are not available now, you may click 'Save as Draft' to save the information you have entered. Once you have prepared the documents, you may retrieve your draft and complete the application for submission.
(iii) To facilitate the preparation of the document(s), you may wish to print a copy of this page.
(iv) If you need any clarification, please email to hdbresale@mailbox.hdb.gov.sg together with a copy of this page.
Document Required (Example, Proximity Grant, Mom Widow)
  1. LETTER OF OFFER FROM BANK/WARRANT TO ACT
  2. LETTER FROM SOLICITOR
  3. IDENTITY CARD(S2107197H)
  4. BIRTH CERTIFICATE
  5. DEATH CERTIFICATE(PARENT)
      - PART 7: Online Payment