Forgot your password?
or

Don't have an account? Create An Account

For agents interested in participating on SRX, please contact us at +65 6635 3388 or write to us at feedback@srx.com.sg

ON TRACK

Achieve the life you want, in the home you love
Property News05 Dec 2017

Heeton subsidiary enters sale agreement for The Woodgrove at S$55.85 million

woodgrove 1
PROPERTY developer Heeton Holdings on Tuesday announced that its wholly owned subsidiary Heeton Estate has entered into an agreement involving the sale of The Woodgrove along Woodlands Avenue 1 for S$55.85 million.

With the proposed sale, the Singapore-based purchaser who was not named had paid a deposit of S$10,000 with a further S$5.575 million to be paid within three days from the date of agreement. The balance will be payable upon the completion of the proposed disposal.

The Woodgrove, which is on a leasehold term of 99 years, has an unexpired lease term of approximately 78 years and has a strata floor area of 5,144 sq m.

Based on a financial statement for its third-quarter earnings, the net asset value of the property was worth approximately S$33 million, with the net gain from the proposed disposal approximately S$22 million, Heeton Holdings said in an after-market filing with the Singapore Exchange.

Heeton Holdings also said costs of upgrading the property to compete with bigger malls would incur additional capital expenditure and result in a loss of income.

With the sale, the property developer intends to enhance its cash flow and direct resources to be used on potentially higher-yield investments such as the acquisition of potential development property and hospitality assets.

Shares of Heeton Holdings ended S$0.005 or 0.9 per cent up at S$0.545 on Tuesday.

Like this article? Share it.
mySG Home
Your Digital Home
Track Your Home. Discover Your Wealth
MY PROPERTY
CONCIERGE
The free, personalized advice, advocacy, and guidance for buying or renting property in Singapore
ON TRACK
Property News 25 May
Liang Seah Street, Little India shophouses for sale and auction

Three adjoining shophouses at 33 Liang Seah Street have been put up for sale via private treaty at $30 million, marketer Colliers International said yesterday.

The three units, which have multiple tenants, are on a single land title within the Beach Road Conservation Area and are zoned commercial and residential.

Property News 24 May
Balestier Regency up for collective sale at $218m

Balestier Regency, a 72-unit condominium complex off Balestier Road, was launched for collective sale by tender yesterday, with a minimum expected price of $218 million, Teakhwa Real Estate said.

The indicative price translates to a land rate of $1,264.90 per square feet per plot ratio (psf ppr), including a development charge of $1.35 million.

The land price will fall to about $1,220.90 psf ppr if the 10 per cent bonus balcony area is included, Teakhwa said.

Property News 23 May
HDB puts on sale 3,970 BTO flats in Sengkang, Yishun, Toa Payoh and Tampines

THE Housing Board (HDB) launched 3,970 Build-To-Order (BTO) flats across four projects in Sengkang, Yishun, Toa Payoh and Tampines on Tuesday, in the second such exercise this year.

Prices without grants range from S$76,000 for a two-room Flexi flat in non-mature estate Yishun, to more than S$422,000 for a five-room flat in mature estate Tampines.

About 17,000 BTO flats are expected this year.

Property News 21 May
Buyers snap up 70 units at Le Quest Phase Two launch on Saturday
SINGAPORE - Le Quest, a Qingjian Realty (South Pacific) Group mixed development project in Bukit Batok, sold 70 units on the first day of its Phase Two sales. Qingjian Realty has offered just 115 units for sale on Saturday (May 19), just a week after it opened up the development for Phase Two preview.

Contact Us

Hello Singapore! I'm Sevi. Ask me any property question.
Chat with Sevi
Sevi - AI Bot
Replies in seconds
Need to speak to someone? 6635-3388
Sevi
I'm Sevi, your personal assistant.

You can ask me basic property questions about transactions, listings, project info and X-value.

Some Examples:

1. Where is Gem Residences located?
2. Are there listings in Hillview Regency for 3 bedrooms and budget of $1.5m?
3. For how much can I sell my property?
4. What are the latest transactions in Bayshore Park?
5. Is it cheaper to buy HDB in Tampines or Jurong East?
6. What is the plot ratio for The Sail?
7. How many blocks are there in Ang Mo Kio Ave 3?

Type RESET or HELP whenever you need.