From those three private home sites that were up for rent, CDL got two websites with 99-year leasehold and one of these is Whistler Grand situated at West Coast Vale. The land group had placed the best bids including a S$472.4M bid for the parcel of property in West Coast Vale and S$212.2M to the property in Handy Road, close to the Dhoby Ghaut MRT Station. The 3rd website which is found along the Chong Kuo Road found the partnership between OKP Land and Lian Soon Holdings placing the maximum bid of S$43.95 M.
In case CDL will be given these 2 sites, they’re researching the option of constructing three residential towers with 8-10 stories with 200 flats in addition to a car park in the cellar for the property located along Handy Road. CDL will change the conservation construction and convert it into a clubhouse. According to Sherman Kwek, the chief executive of CDL, the land group was selective in locations where they place the 2 websites where they put the best bid have good possibility. Together with the residential market in Singapore starting to recover gradually, the group’s most important focus is to hunt for the ideal opportunities which will increase CDL’s property bank locally. The Chong Kuo Road tender had obtained 8 bids, 6 bids to get West Coast Vale and 10 bids for Handy Road.
Whenever you’re likely to get a home occasionally you may get into bidding wars with other people who want the exact same house as you. If individuals have fallen in love with the house they may push up their offer price when they find out others want the exact same home. Among the things that you can do is to find out the costs of the other homes in the region. This way you have a notion of what things are going for and when it is under priced you can figure out in the event that you would like to bidding or look elsewhere.
For West Coast Vale, CDL had proposed towers with 36 stories. But, Singapore’s Urban Redevelopment Authority has given that the maximum residential components for the property is 730.
Make certain you receive all of the closing documents beforehand. Going into final blind can lead to a very long meeting in addition to oversights. Read the records thoroughly beforehand and ask any questions prior to closing. This will make for a much smoother trade on the day that you go in to sign.
Tricia Song who’s the head of Colliers International in Singapore noted that CDL’s bid for the plot in West Coast Vale Whistler Grand has been 35 percent more than that which was compensated for the site of the Twin View Project. Regardless of the abundant source, Song said that what might have increased the confidence of developers within this place is also the nearby Parc Riviera that has 752 units and 97 percent of it was sold by December 2017. Parc Riviera had an average selling price of approximately S$1,200 per square foot in only 13 months after it was formally launched.
Property Consultants have said that even with multiple tenders concurrently closing in for Whistler Grand, this has little effect in regards to bidding prices. Based on JLL’s national manager, the top bids on the 3 bids exceeded the expectations however they won’t interfere with the availability of the collective sales-sites in the market.