Crystal Tower En Bloc to Allgreen Properties Ltd for $180.65M

ABOUT THE EN BLOC SALES

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Crystal Towers en bloc has been put on a relaunch for the collective sale list. It was previously included in the 2011 and 2012 collective sales. This property houses 28 apartment units in a low-rise building. The land area measures approximately 5,619 square meters with a plot ratio of 1.6.

The sale that has been put has an asking price amounting to $138 million. It receives various high bids from 12 developers which is won by the Allgreen Properties Ltd that is making a comeback in the industry. This renowned developer is also behind the prestigious Royal Green in District 10, Singapore.   The winning bid amounts to $180.65 million or about $1,840 psf ppr. An estimated break-even price ranging from $1,900 to $2,050 per square foot for the future developed which is based on the winning bid by Allgreen properties.

The property was zoned as residential an is expected to yield another magnificent development that property-seekers and investors are looking forward to. Eyed by various developers during its launch, the site of Crystal Towers has been an excellent residential home for years. Its location has been one of the key features of the sale which is brokered by the Edmund Tie & Company.

Estimated, the Crystal Tower en bloc will have a break-even amount of around $2,400 up to $2,500 per square foot.

 

CRYSTAL TOWERS LOCATION

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The Crystal Tower is situated in the Bukit Timah region, a prime area that is one of the sought-after areas in District 10. The site is close to the different modes of transportation that can give ease of access to the surrounding locations of the property. Some MRT station within the nearby area includes Newton MRT and Stevens MRT.

The area is enclosed with different roads such as Bukit Timah Road, Farrer Road and Central Expressway (CTE) which leads to other major locations in the country. These major roads are linked by multiple branches of avenues and streets which makes the area more accessible to the residing community.

The availability of highly commended schools is high in the area. Educational institutions which have a high reputation for excellent educational service like Derbyshire Kindergarten, St. Joseph’s Institution, Catholic Junior College, Balestier Hill Primary School, and Little Woods Montessori Preschool are within close proximity to the property.

The enjoyment and different shopping and grocery needs that the residents basically need to have can be provided by a number of establishments that are near the site. Some on the list were Tanglin Shopping Centre, DFS Galleria Scottswalk, Jasons Supermarket, Forum The Shopping Mall and the Far East Plaza.

 

MODE OF TRANSPORT

• Newton MRT
• Stevens MRT
• Central Expressway (CTE)

 

NEARBY AMENITIES

• Far East Plaza
• Cold Storage
• Forum The Shopping Mall
• Balmoral Plaza

 

POTENTIAL OF THE SITE

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The site of the Crystal Towers property can be found in the majestic area of Ewe Boon Road in District 10. This property has an easy link to plenty of amenities. It is also a few minutes away from the Central Business District making it one of the properties that have great potential for a high rental yield.

The gross floor area of the property measures 5,619 square meters. This freehold site is anticipated to yield a good 130 home units that will perfectly suit everyone’s lifestyle. It will be surrounded by high-end facilities that will provide the utmost convenience and enjoyment to future residents.

The units are expected to have prices varying from $2,400 to $2,500 per square foot which makes it attractive to the potential property investors and buyers. With a gross floor area of 9,121.17 square meters, the site is predicted to be developed into an amazing residence that could shelter various resident types with its diverse number of bedrooms per unit.

Investors can also expect a good capital appreciation for the site in the future as the demand for properties and sites like Crystal Towers is eyed to boom in the near future.

 

 

CRYSTAL TOWERS NEW CONDO REGISTRATION OF INTEREST

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