Frasers Property (formerly: Frasers Cpt (FCL))

Good response for Yishun @ $1300psf vs gloom and doom in prime 9/10/11 districts @ $2000psf... don't know what is the logic...

Doesn't matter so long as FCL sells as much since I m vested in FCL...

http://infopub.sgx.com/FileOpen/MEDIA_RE...eID=341885

HOME BUYERS AFFIRM STRONG INTEREST IN NORTH PARK RESIDENCES DURING SOFT LAUNCH

Yishun location and Northpoint City seen as major draw cards
SINGAPORE, 6 April 2015 – Its locale and the many ‘doorstep’ benefits to being part of an integrated development have seen home buyers and investors show strong confidence in North Park Residences, which is part of Yishun’s iconic integrated development, Northpoint City. The 920-unit North Park Residences comprises twelve 10-storey blocks with configurations ranging from one- to five-bedroom units.
Of the 430 units released at its soft launch yesterday (Sunday), a total of 313 units were sold. Sales were evenly spread across its one- to five-bedroom apartments with Singaporeans accounting for over 88 per cent of buyers. Phase 1 units of North Park Residences were released at an average pricing of $1,300 psf with prices starting from $612K for a 1-bedroom Suite to $1.89M for a 5-bedroom Vista unit.
Developed by Frasers Centrepoint Limited (“FCL”), Northpoint City will be the developer’s fourth integrated development project.
Mr Cheang Kok Kheong, CEO of Development and Property for FCL, said that the healthy demand for North Park Residences indicates that buyers are savvy about the advantages of its Yishun location as well as being part of an integrated development. FCL has also ensured that residents will enjoy the many communal facilities which will be easily accessible on foot via covered walkways and the shopping mall.
“For some time now we have been hearing about the revitalisation and transformation of Yishun from that of a mature township to one with new facilities for medical, education, transport, recreational and other functional needs. Northpoint City will also fill the gap for a vibrant lifestyle hub in the heart of Yishun and northern Singapore,” said Mr Cheang. “Over the past three weekends of public preview, we have put in significant effort to meet and speak with some 5,000 visitors and prospective homebuyers on the value and investment potential in an integrated development like North Park Residences. The encouraging sales and ongoing enquiries reaffirms our success in engaging with them.”
Northpoint City will comprise over 500 retail and F&B stores, the Yishun Integrated Transport Hub, Nee Soon Central Community Club (the first community club within a shopping mall), the expansive Town Plaza and a Community Garden.
In particular, residents will be attracted to Northpoint City’s seamless connectivity to road, rail and bus services. They can access the existing Yishun MRT station via the mall while a retail underpass will take them to a new air-conditioned bus interchange currently under construction. By train, residents can reach Orchard Road within 22 minutes.

(06-04-2015, 05:53 PM)greengiraffe Wrote: Good response for Yishun @ $1300psf vs gloom and doom in prime 9/10/11 districts @ $2000psf... don't know what is the logic...

Doesn't matter so long as FCL sells as much since I m vested in FCL...

...

I dont get the logic either. Perhaps yishuners were comparing the prices relative to the more recent projects like nine residences (average 1100++ psf) and symphony suites (average 1000++ psf) so it appears that northpark residences appear to be selling at a fair price.

Isnt this how most people do their valuations?

(07-04-2015, 11:27 AM)safetyfirst Wrote:

(06-04-2015, 05:53 PM)greengiraffe Wrote: Good response for Yishun @ $1300psf vs gloom and doom in prime 9/10/11 districts @ $2000psf... don't know what is the logic...

Doesn't matter so long as FCL sells as much since I m vested in FCL...

...

I dont get the logic either. Perhaps yishuners were comparing the prices relative to the more recent projects like nine residences (average 1100++ psf) and symphony suites (average 1000++ psf) so it appears that northpark residences appear to be selling at a fair price.

Isnt this how most people do their valuations?

We should compare between integrated developments. Yishun North Park has its attractiveness, with MRT, mall, and bus interchange are around the corner. The Aviation Park is also near-by, and Woodland regional center is also very near.

I do think the $1300 psf is a fair price, with its location and design.

(not vested in FCL)

I actually think $1.3k psf is fair if not a low price, personally think Frasers can easily command a much higher price... Compared to new nearby developments (9 residences/symphony suites) it's already worth the extra premium.

Not to mention, with price range of 600k to 1.8m; it's roughly the same quantum as a typical EC development in the past. Judging from the crowds at ECs, this quantum should have a huge pool of potential buyers.

I made an enquiry at NorthPoint and was told tentatively selling at 1.35k psf, I thought it is quite expensive considering that Sky Habitat is selling about the same price or slightly higher. Moreover it's a high density project on already high density town, I think I will pass if I have money to invest. For own stay may be a good choice if one already used to the northen living.

70% of 600 units launched sold... good PR on FCL part to manage the launch of a mega project... so long as they sells, FCL holders will be off the hook faster...

Vested
Core Holdings

http://infopub.sgx.com/FileOpen/North_Pa...eID=343587

NORTH PARK RESIDENCES SEES ROBUST SALES DURING
WEEKEND LAUNCH
Value of residential living in an integrated development draws buyers from within and beyond Yishun
SINGAPORE, 13 April 2015 – Buyers living in the larger Yishun precinct have registered strong confidence in staying close to home, judging from the weekend sales of North Park Residences.
Following an enthusiastic response to its soft launch the previous weekend, sales momentum of the 920-unit condominium, which is part of Northpoint City in Yishun, continued at its public launch over the weekend.
100 additional units were sold during the weekend, adding to the 313 units sold during the soft launch. The 413 units sold in total represent almost 70% of the 600 units released.
Based on total sales, 60% comprised buyers staying within or close to Yishun, including in Woodlands and Sembawang, who are familiar with the changes in Yishun and want to remain there.
A large number of buyers also came from beyond Singapore’s North region with 40% from Northeast, West, East and Central Singapore, believed to be attracted to the pull of Yishun.
A mature township, Yishun has been going through rejuvenation as part of the government’s Remaking our Heartland programme. This includes new roads and links to expressways to seamlessly connect residents in, around and beyond Yishun, as well as a medical hub that includes the existing Khoo Teck Puat Hospital and the Yishun Community Hospital slated for completion at the end of this year.
“Northpoint City is the final piece of the jigsaw in the re-making of Yishun,” said Mr Elson Poo, General Manager, Sales and Marketing of Development and Property for Frasers Centrepoint Limited (“FCL”).
“We are encouraged that buyers have registered confidence in this development,” he said. “It testifies to their assurance in the new Yishun and an integrated development as it boosts the live-ability quotient and the leasing resilience of North Park Residences.
“Given the excellent medical facilities within the precinct, buyers can opt to lease-now, stay-later when they reach their retirement years and are in need of healthcare facilities close to home.”

http://infopub.sgx.com/FileOpen/Press_Re...eID=343891

Frasers Hospitality launches Capri by Fraser in Australia
High-tech and intuitive CBD hotel residence for millennial travellers
opens with special introductory stays from $179 a night

Frasers Centrepoint weighs listing in Singapore
THE AUSTRALIAN APRIL 16, 2015 12:00AM

Ben Wilmot

Commercial Property Editor
Sydney
Topping out ceremony at Frasers Property's Fraser Suites Perth hotel. In photo Mr Lim Ee Seng, CEO Fraser Centrepoint Ltd

Fraser Centrepoint chief executive Lim Ee Seng. Source: News Corp Australia
Singapore’s surging real estate investment trust market could see more Australian assets listed there in the second half of this year, but some groups are opting to sell their local holdings at a profit.

Frasers Centrepoint is advancing plans to carve off the stabilised industrial property assets from the $3 billion Australian commercial property portfolio it acquired by taking over Australand Property Group into a new Singapore industrial fund.

Frasers Centrepoint chief executive Lim Ee Seng flagged the plan last November saying the group could shift some of the old Australand properties into its Singapore REIT.

Property executives familiar with the plans said that an industrial trust would be well received and could come once Australand exits its $450 million logistics venture with GIC, which is selling out of all its Australian industrial holdings.

Such a trust could sit alongside the existing Singapore-listed ­Frasers Commercial Trust, which owns other Australian ­office assets, and could hold Australand towers in future.

However, bankers stressed that Frasers may consider a listing in Australia as that may be the natural home for a trust of local assets, even if Singapore had a cheaper cost of capital in the shorter-term.

Frasers last year appointed former Australand managing director Bob Johnston as the head of its Australian property business replacing Frasers Property Australia chief Guy Pahor. Frasers, controlled by Thai ­tycoon Charoen Sirivadhanabhakdi, acquired Australand last year via a $2.6bn takeover in which it outbid local giant Stockland.

Frasers and Australand declined to comment yesterday but it understood that creating a fourth REIT for industrial assets is part of planning for the Australian business.

However, not all Singaporean groups are placing their Australian assets into offshore trusts. Singapore-listed healthcare company International Healthway Corporation, which last year made its first foray into the Australian office market, purchasing two office towers on St Kilda Road, has elected to quickly onsell them.

The group bought the building at 553 St Kilda Road next to The Alfred hospital for $45 million, and then the office block at 541 St Kilda Road from a property syndicate managed by APN Property Group for $35.75m. The company is also backing the development of a four-storey medical centre in Geelong, Victoria.

IHC’s portfolio consists of 16 assets in Malaysia, China, Japan and Australia, and last year it said it was planning to list a new healthcare property trust on the Singapore exchange.

However, IHC revealed this week that it had committed to a plan to sell the two Melbourne properties last September.

The company could reap a profit as it now holds the pair of buildings at $S92.99m ($90.01m) and a letter of intent had been entered into with a non-related buyer for the sale that is expected to complete in June.

I went to the showflat. The integrated development is certainly a plus. They even have the community center/area built-in.

One think i notice is that there are a lot of pools designed into North Park. The actual build space if i am not wrong is about 1/3 of the whole area only. Maybe crowd capacity should be measure by ratio between buildup living space vs total condo land area ? Alternatively number of units psf ? Not sure is there a benchmark to be based.

Being vested in this Reit, will they need to raise money considering this development is Huge ?

(17-04-2015, 11:33 AM)corydorus Wrote: I went to the showflat. The integrated development is certainly a plus. They even have the community center/area built-in.

One think i notice is that there are a lot of pools designed into North Park. The actual build space if i am not wrong is about 1/3 of the whole area only. Maybe crowd capacity should be measure by ratio between buildup living space vs total condo land area ? Alternatively number of units psf ? Not sure is there a benchmark to be based.

Being vested in this Reit, will they need to raise money considering this development is Huge ?

No doubt, the project has much more common space, comparing with other integrated project. I am not sure it is due to new regulation (IIRC, there is a new regulation on common space ratio recently), or due to "quality design" by the company.