Singapore Press Holdings (SPH)

[axt]

I guess this statement already says it all - SPH are over-paying for this purchase? More debt financing for their property projects?

Or cut dividend to fund the project?

[Mr Nobody]

The one at the helm used to be able to see "Dark Clouds". Hope the new guy is as good. Not vested. (Once vested, but run road liao...)

[pianist]

i just wonder why such a wulu location at junction of Sengkang West Avenue and Fernvale Road can fetch above 1000psf..that place is served by a lrt station i think

[KopiKat]

i just wonder why such a wulu location at junction of Sengkang West Avenue and Fernvale Road can fetch above 1000psf..that place is such served by a lrt station i think

Can see the map at HDB site

or use Google Maps and zoom in on Fernvale LRT. If you are familiar with Google Maps, can even zoom in and see the actual location and 'walk' around there to see the surroundings.

[Bibi]

Jurong West also used to be a wulu location. No one expects Jurong Point to do so well. I look at the map provided by KopiKat, there are soooo many flats around that area. Just like Jurong West. Sooo many flats and yet only one JP. No hawker centers, miserable number of coffee shops and provision shops.

[kazukirai]

Jurong West also used to be a wulu location. No one expects Jurong Point to do so well. I look at the map provided by KopiKat, there are soooo many flats around that area. Just like Jurong West. Sooo many flats and yet only one JP. No hawker centers, miserable number of coffee shops and provision shops.

I stay pretty near there and go to the Fernvale Point pretty often. (if you look at the map, right-hand side of Fernvale LRT where it says 'Site Reserved for future high-rise development').

The piece of land that SPH just bought, I doubt that it'll end up being a Jurong Point. More like a Pioneer Mall (since we're on the analogy) if you ask me. Sengkang's already served by a larger suburban mall- Compass Point.

Also, for those that stay near enough to that side of Sengkang to frequent the current Fernvale Point (and hence likely to visit SPH's future commercial development), we're now served by another commercial development- Greenwich V at the junction of Yio Chu Kang and Seletar Rd.

The plus point for SPH's project I can think of would be the increase in number of future residents in that area. There are a huge number of BTO projects being completed at that area (along Jln Kayu and slightly further in) plus if you look at HDB's Land for Sale site, there are another 3 plots of land near the corner of Jln Kayu and Yio Chu Kang road are that earmarked for Residential Pjts (Probably Condos/ECs/DBSS or smt similar).

So the question is whether SPH is justified in paying that amount for benefits that will accrue in the future. Another question will be how far in the future?

If anyone can shed light on how to measure this, it will be great.

(Not vested)

[KopiKat]

I stay pretty near there and go to the Fernvale Point pretty often. (if you look at the map, right-hand side of Fernvale LRT where it says 'Site Reserved for future high-rise development').

Ya, I took a "walk" aro' that area using Google Maps (Street View) and saw a huge 'Koufu' there. Saw many HDB flats under various stage of construction (not sure how often Google updates the pix). "Walked" all the way to the school and got lost a couple of times.

The piece of land that SPH just bought, I doubt that it'll end up being a Jurong Point. More like a Pioneer Mall (since we're on the analogy) if you ask me. Sengkang's already served by a larger suburban mall- Compass Point.

Also, for those that stay near enough to that side of Sengkang to frequent the current Fernvale Point (and hence likely to visit SPH's future commercial development), we're now served by another commercial development- Greenwich V at the junction of Yio Chu Kang and Seletar Rd.

A better comparison (since this is an LRT station) would be Bukit Panjang Plaza (~200m from Bukit Panjang LRT stn) or Ten-Mile Junction (Ten-Mile Junction LRT stn is within the complex).

Bukit Panjang Plaza is quite well patronised, especially more so after CMT took control and started their Asset Enhancement programmes. 10-Mile Junction was a failure and has since been re-developed into a mixed site - Junction 10 (Mall) + Tennery (condo). Not sure how they'll do as the Mall just reopened.

In CCK (Choa Chu Kang) area, the main mall is Lot1 (next to CCK MRT stn) but it does appear that as long as the cluster population is large enough, there's room for other smaller malls eg. Bukit Panjang Plaza, Junction 10, Yew Tee Point (next to Yew Tee MRT stn),.. Even for those areas like Tampines, Boon Lay, having another mall side-by-side had not diminished their appeal. In fact, more people from other parts may be attracted by the critical mass to go visit.

[ttiatlen]

SPH has just settled their Clementi Mall; starting to generate income. I think that frees them to do the next mall development and continue to create avenues to generate an income stream from leasing of property. Sounds like a good thing, even if they paid high. Fact is, they've been careful in picking places with residential volume.

[pianist]

in the first place..why is a monopoly press company even allowed to squeeze rental income from tenants and indirectly fuel inflation?

[Drizzt]

Jurong West also used to be a wulu location. No one expects Jurong Point to do so well. I look at the map provided by KopiKat, there are soooo many flats around that area. Just like Jurong West. Sooo many flats and yet only one JP. No hawker centers, miserable number of coffee shops and provision shops.

I stay pretty near there and go to the Fernvale Point pretty often. (if you look at the map, right-hand side of Fernvale LRT where it says 'Site Reserved for future high-rise development').

The piece of land that SPH just bought, I doubt that it'll end up being a Jurong Point. More like a Pioneer Mall (since we're on the analogy) if you ask me. Sengkang's already served by a larger suburban mall- Compass Point.

Also, for those that stay near enough to that side of Sengkang to frequent the current Fernvale Point (and hence likely to visit SPH's future commercial development), we're now served by another commercial development- Greenwich V at the junction of Yio Chu Kang and Seletar Rd.

The plus point for SPH's project I can think of would be the increase in number of future residents in that area. There are a huge number of BTO projects being completed at that area (along Jln Kayu and slightly further in) plus if you look at HDB's Land for Sale site, there are another 3 plots of land near the corner of Jln Kayu and Yio Chu Kang road are that earmarked for Residential Pjts (Probably Condos/ECs/DBSS or smt similar).

So the question is whether SPH is justified in paying that amount for benefits that will accrue in the future. Another question will be how far in the future?

If anyone can shed light on how to measure this, it will be great.

(Not vested)

i never knew we stayed that close by. i too think its impossible for them to build a clementi mall size mall there. do note at jalan kayu there is a new development.

while i welcome the development (which is a short bus ride away from my home via bus 163) i think they are freaking overpaying again!