The Avenir Condo – Joint Development comprising of GuocoLand (Singapore), Hong Realty, and Intrepid Investments
The Avenir has been procured by a tripartite joint comprising of GuocoLand (Singapore), Hong Realty, and Intrepid Investments. The aggregate deal at S$980 million is perhaps the biggest deal inside the most recent decade. The delicate for the site pulled in enthusiasm from a bunch of outside and neighborhood designers. It’s high deal value I significantly higher than the save cost of S$938 million by up to 4.5%.
GuocoLand and Intrepid Investments holds 40% stake each and Hong Realty holds 20% premium. Hong Leong Investment Holdings (HLIH) claims significant offers in both Hong Realty and Intrepid Investments.
The advancement includes around 290 condos and 2 business units. The deal comes after 80% of the proprietors assented the en alliance deal. Proprietors of the units at The Avenir will get somewhere in the range of $3.36 and $3.48 million as continues from the deal. Every one of the shop units will be granted between $2.2 million and $4.5 million.
With a current gross floor region of around 493,222 sq ft, The Avenir value means S$1,987 psf ppr. Including the 10% additional overhang gross floor zone, its maximum passable GFA is 542,544 sq ft which reflects around S$1,806 psf ppr.
Being a property arranged in the focal point of area 9, The Avenir appreciates a vital area that is near a plenty of courtesies. It is both near Orchard Road shopping belt, the focal business locale and the future Great World City MRT station.
Assessment from specialists demonstrates that the land cost for The Avenir may appreciate a breakeven cost running somewhere in the range of $2,530 and $2,800 psf ppr with a foreseen selling cost of $3,000 to $3,200 psf.