What do you think of D’Lotus? Is the subsales reasonably priced (1100psf and above) considering that it is still surrounded by industrial buildings and may take years to shape up. What’s your view?

SF

In the usual unit transaction, we will use the price per sq foot as an indicative average price per area.

In an enbloc, the price psf per plot ratio (ppr) will act as a more accurate indicator in the following scenario if the exisitng GFA is not equal to the future one:
1. the total GFA in the development has not be optimised
2. the plot ratio has been increased with the latest Master plan

Therefore the price pst ppr will be more useful in the feasibility study for development. However the figure is an average, therefore it does not imply to all units in the enbloc. Each unit will vary according to its level and condition, and sometimes the unit’s negotiation skill with the agent rep.

Hope that answer your query.

Novena Court is having 1.4 plot ratio and building ht 5 storey. Most buildings facing the main road like Amanida and Novena Lodge are subject to the same restriction. Therefore the incentives for developers to acquire and develop are not as high compared to others plot with the bonus plot ratio.

You mentioned Scala in your comparison above. It led me to think if we get any property that is near MRT will never go wrong, even better if it is freehold but I do not think there are many of such properties which are freehold and near MRT.

I was actually looking at Novena Court apartment just beside the Novena church along Thomson road. It is near to the MRT and freehold but not sure about the potential for enbloc for this more than 30 years project. I notice all the buildings along the stretch of Thomson road after Balestier are all low rise buildings. I reckon their plot ratio is low and there may be height restrictions. Any views on getting an old apartment in the Novena vicinity? But would not be cheap as well compared to Balestier side.

Michael

There are still owners willing to sell irregardless of the enbloc is in talk:
1. Enbloc in an way is an opportunistic activity. If there is any small hindrance in terms of more than 80% concurrence in residents, or anticipated pricing, or any legal encumbrance, the enbloc transation could be easily jeopardized.
2. Enbloc takes more than 2 years duration. Some people just do not want to wait through it.
3. It is pretty cumbersome to sit through all the enbloc process. If the owner is able to dispose at a decent price close to the targetted pricing, yet lessen all the trouble, why not?

Hope that answer your query:)

Maybe just a secret to share with all the readers: Global ville is already in talks on enbloc. Should be able to see some news in near future:)

Michael