ABOUT THE EN BLOC SALES

Tulip Garden en bloc is considered to be one of the top-selling freehold collective sale made for this year 2018. This property which has been a huge success on its fourth attempt had a great history of its own. Its first collective sale was also a success as the property was bought by the Bravo Building Construction-led consortium that was made in July of 2007. Unfortunately, Bravo decided to back out after it was unable to provide enough funds for the redevelopment project, This causes it to lose 5% of its original deposit of $25.8 million which was forfeited and was given to the owners. Reports said it cost about $100,000 for each owner.

On its fourth attempt, the property en bloc was able to attract fervent interest from various developers in the country. This attributes to the excellent location that the property has to offer. It has a reserved price of $753 million. Joined by huge and renowned developers, bids from a joint venture from Yanlord Land Group and MCL Land was the one that stands out. With a selling price of $906.9 million, this collective sale was considered to be the second-highest freehold en bloc sale made in 2018 which is topped by the Pacific Mansion en bloc at $980 million.

The sale price was 20.4% higher than its reserved price which turns out to give the owners between $4.3 million to $7.6 million. Units in this property have floor areas ranging from 1,701 square feet to 3,412 square feet. Tulip Garden is comprised of 162 units, with 2 maisonettes and 2 shops and was the 11th successful freehold collective sale in the area of District 10.

Tulip Garden En Bloc

TULIP GARDEN LOCATION

Tulip Garden is located in the District 10 of Singapore. This site is addressed specifically at 1 Farrer Road. Connected by numerous roads and major expressways, as well as different amenities surrounding the neighborhood is the reason to gain it a great deal of interest from major real estate tycoons. Within a 5-minute drive to the prestigious Singapore Botanic Gardens, this property address has a lot to show and give.

Shopping malls within a close radius surrounds the area. Some of these include Jelita Shopping Centre, Far East Flora @ Queensway, Serene Centre, Beauty World Centre, Bukit Timah Shopping Centre and The Star Vista among the few. Schools that are of known reputation when it comes to developing the minds of their students are also in the nearby area. Primary, secondary schools and colleges such as the Nanyang Primary School, ACS International, St. Joseph’s Institution and Singapore Chinese Girls’ School are within short minutes of driving to the site address. With the various mode of transportation, the future inhabitants of the redeveloped site will surely be of great convenience when it comes to travel and reaching out to these amenities.

MRT stations, as well as bus hubs, are flourishing in the area. Within a 10-minute walk, residents will be able to reach the Farrer Road MRT station which only up ahead. A 3-minute drive down will lead the residents to the Holland Village MRT station. A lot of bus hubs are within the nearby area such as Fairlodge Bus Stop, Holland Village Bus Stop, Block 9 Bus Stop and Block 10A Bus Stop. The link between this address and the different districts in the area is fairly convenient as well. Roads such as Farrer Road and Queensway sets a comfortable route to different places in the area. The expressways like the Pan Island Expressway (PIE) and the Ayer Rajah Expressway (AYE) boost the convenience and travel comfort of the driving community.

MODE OF TRANSPORT

  • Tan Kah Kee MRT
  • Napier MRT
  • Holland Village MRT
  • Botanic Gardens MRT
  • Farrer Park MRT
  • One North MRT
  • Buona Vista MRT
  • Queenstown MRT
  • Pan Island Expressway (PIE)
  • Queensway

NEARBY AMENITIES

  • National Junior College
  • Far East Flora @ Queensway
  • Gleneagles Hospital
  • Crown Centre
  • Serene Centre
  • Fairprice Coronation Plaza
  • Concord International Hospital
  • Hwa Chong Institution
  • Tay Junction
  • Merlion Sports City
  • The Grandstand
  • The Centaurs Sports Park
  • Nanyang Girls’ School

 

POTENTIAL OF THE SITE

According to the marketing agent for Tulip Gardens, Colliers International, the property site will be able to genuinely yield around 670 residential units. The formed Asia Radiant joint venture by MCL Land and Yanlord Land Group will be the one to hold the acquisition. The site area of this en bloc measures 316,708 square feet which will enable them to redevelop the address into an upscale residence that property-seekers and investors will find stunning and worth the money.

An array of astonishing residential homes will soon arise in this very accessible address, giving way to the metropolitan lifestyle of the future residents. Each unit will have enhanced home features that will create a better and much comfortable living environment for the residents. The developer will develop units that are averaging 790 square feet in floor area. This floor area is four times spacious than the current units of Tulip Garden. The addition of a balcony area for the units will also provide extra space that residents will be able to maximize and enjoy. Having an advantageous size for the site, the developer will have a great opportunity to have a unique and stunning right in the midst of the city district, according to Ms Tang Wei Leng, MD for Colliers.

With a current plot ratio of 1.6, Asia Radiant will be able to work on a 12-storey permissible height for the residential development. If they decided to stick to this measurement, they won’t have to worry about having additional development charges in the future. This will be a lot of advantages not only to the developer but also to the buyers and investors of the future development. The future property will also be supplied with carefully chosen facilities that will enable its future occupants to live a lifestyle of true modernity and convenience. Enjoyable recreational facilities will be available for all ages. The future development will surely open up great opportunities for investors as well property-seekers as they will see a residence that is worth investing in.

 

TULIP GARDEN NEW CONDO REGISTRATION OF INTEREST

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