Enbloc news: Derby Court

By The Folks @PropTalk - November 25, 2014 No Comments

Derby Court, a 35-year-old, 12-storey freehold development comprising 20 apartments, has launched a collective sale with an indicative price of $68.28 million. This translates to $1,286psf ppr, based on an allowable gross floor area of 53,094sqft.

The land rate would be lowered to about $1,169psf ppr, including the 10% bonus gross floor area allowed for balconies.

The 18,500sqft site at 5 Derbyshire Road, which is off Thomson Road and near United Square shopping mall, can potentially accommodate up to 70 apartments averaging 753sqft; the breakeven cost will exceed $1,700psf, said Savills Singapore, which is handling the sale.

No development charge needs to be paid because of the high development baseline which reflects a plot ratio of 2.869. The site is zoned "residential" wih a plot ratio of 2.8 under the 2014 Master Plan.

The tender will close at 3pm on Jan 20, 2015.

The site is near Novena MRT station, Orchard Road and the central business district; it is also within 1-km of popular schools such as St. Joseph's Institution (Junior) and Anglo Chinese School (Junior).

Derby Court's en bloc attempt follows that of Fragrance Court, put up for tender at a reserve price of $70 million (about $1,235psf ppr) last month. The tender, which closed last Wednesday, received "no proper bids" but a few expressions of interest had come in.
Source: BT

On a separate subject, the wife and I have been facing some problem accessing the streetdirectory.com website recently. Whatever search we make ends up "blank" on the map (see screen capture below). 

We wonder if any of our readers have experienced the same issue and more importantly, how to go about fixing this?

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