Sing Holdings

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Vseeker Offline

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#74

15-12-2011, 01:54 AM (This post was last modified: 15-12-2011, 01:57 AM by Vseeker.)

1) 19-Sep2010: Acq 3 Robin Drive Robin Court and 1 Robin Drive for $77.33m
==> Landarea = 3764.3 sqM, Pr=1.4x, GFA=56726 sqft ==> $1363 psfppr

2) 28-Jan2011: Acq RobinStar (10-12 Robin Drive) for $47m
==> Landarea = 2263.1 sqM, Pr=1.4x, GFA=34104 sqft ==> $1378 psfppr

3) 14-Dec2011: Entered into S&P Agreement to acq 2-8 Robin Road for $52m
==> Landarea = 2144.6 sqM, Pr=1.4x, GFA=32318 ==> $1609 psfppr

So SingHldg actually pay some 17% higher price, compared to the first two acquisitions

ofcourse if we factor-in the 10% bonus GFA, GFA rose to 35550 sqft & Price reduces to $1462 psfppr for this 3rd acquisitions
but we should then also apply this 10% bonus for the first 2 acqns inorder to do a fair comparision.

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Upon Amalgamation of above three acquisitions:: Landarea = 8172 sqM, Pr=1.4x, GFA=11440.8 sqM or 123149 sqft

Total Costs = $176.33m
& plus 10% bonus GFA, Total GFA rose to 12585 sqM or 135464 sqft ==> $1302 psfppr

I recall reading somewhere else that for one of the earlier plot of land, DC charges of $5.2m is payable
if so, then Total Costs rose to $181.61m, and still using enhanced GFA of 135464 sqft ==> its $1341 psfppr.

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The next point to note is that SingHld's new project
will now have to observe the new URA measures on "Improve the Living Environment for Non-Landed Residential" (see below extract details)

and so Maximum number of Dwelling Units can be developed for the project will be ≤ (( MP Allowable GPR[1] x Site Area ) / 70 sqm )

Max GFA (excl bonus GFAs) = 11,440.8 sqM

so Max DU = 11440.8 / 70 = 163.4

==> so SingHldg CANNOT built more than 163 Dwelling Units on the combined site.

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• URA Measures to Improve the Living Environment for Non-Landed Residential Estates through the Following:
a) Minimum Plot Size for Flat Developments Island-Wide
b) Guide on Maximum Allowable Number of Dwelling Units for Flat and Condominium Developments in Residential Areas Zoned for GPR 1.4

New building guidelines take effect
Guidelines will only affect new applications

Guide on the Maximum Number of Dwelling Units (DUs) For Flat and Condominium Developments within GPR 1.4 Residential Estates

11.To ensure that redevelopment carried out within GPR 1.4 residential estates can be supported by the local infrastructural capacities, a guide on the maximum number of dwelling units (DUs) for flat and condominium developments within GPR 1.4 residential estates is introduced using the following formula:

Maximum number of DUs per development ≤ (( MP Allowable GPR[1] x Site Area ) / 70 sqm )

16. To better address these local issues, URA and LTA have jointly studied the road capacity of Telok Kurau Estate to ensure further redevelopment within the estate is carried out at a more sustainable manner. Based on the study, in addition to the minimum plot size requirement of 1,000sqm for flat developments, a more stringent guide on the allowable number of DUs for flat and condominium developments within the Telok Kurau Estate is applicable using the following formula:

Maximum number of DUs per development ≤ (( MP Allowable GPR[1] x Site Area ) / 100 sqm )

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