Wilshire Residences

Over the years, the group continued to develop real estate across different sectors comprising landed housing, condominiums, apartments, offices and retail malls. Some of these projects are Greenbank Park, Green Meadows, Trendale Tower, Stratton Park, Belgravia Park, Serenade Garden, Kew Cottages, Treasure Place, Eminent Plaza, Serangoon Plaza and Poshgrove East, to name a few.

Through the last 60 years, Tong Eng Brothers has owned and developed close to 200 acres of land, encompassing office, retail, landed housing and apartment. It has established itself as a leading property developer with a proven track record in delivering high quality projects. 

Today under the leadership of Group Managing Director, Teo Tong Lim, the family business continues into its third generation. The Tong Eng Group continues to source for investment and development opportunities while developing their landbanks and expanding its Real Estate footprint in and beyond Singapore.

Established in May 1967, Roxy-Pacific Holdings Limited (“Roxy-Pacific” or the “Group”), an established property and hospitality group with an Asia-Pacific focus, was listed on the SGX Mainboard on 12 March 2008. The Group is principally engaged in the development and sale of residential and commercial properties (“Property Development”). The Group’s recurring income streams are strengthened through its flagship hotel Grand Mercure Singapore Roxy hotel, self-managed upscale boutique hotels, Noku Kyoto and Noku Osaka, Japan, and first self-managed upscale resort Noku Maldives, and other investment properties in Asia-Pacific (“Hotel Ownership and Property Investment”).

The Group’s residential development projects typically comprise small-to-medium sized residential developments such as apartments and condominiums targeted at middle-to-upper income segments. Between 2004 and 2019, the Group developed and launched 54 small-to-medium sized developments comprising a total of more than 5,006 residential and commercial units in Singapore, Malaysia and Australia.

Grand Mercure Singapore Roxy hotel, a major asset of the Group, is self-managed under franchise agreement with international hotel operator, Accor Group. Beyond Singapore, the Group has opened its upscale boutique hotels under the Noku hotels brand name in Kyoto and Osaka, Japan, and upscale resort in Maldives. The Group’s second upscale resort in Phuket, Thailand, is targeted to operate in 2021.

For Property Investment, the Group owns 52 retail shops at Roxy Square Shopping Centre in Singapore. In Australia, Roxy-Pacific owns a 45% interest in a freehold six-storey commercial building at 312 St Kilda Road on the fringe of the Melbourne CBD. The Group also owns a 40% interest in a centrally-located, 10-storey commercial building at 33 Argyle Street, Parramatta, New South Wales. In Auckland, the Group owns NZI Centre and has a 50% interest in the office building at 205 Queen Street. In Tokyo, the Group recently acquired a 49% interest in a retail property at renowned retail districts at Shibuya, expanding Roxy-Pacific’s hospitality presence in Japan to the retail property sector.

KSH Holdings Limited (“KSH” or the “Group“) (“金成兴控股有限公司“) is a well-established Construction,Property Development and Property Investment group that was incorporated in 1979 and has been listed on the Mainboard of the SGX-ST since 8 February 2007.

KSH is an A1-graded contractor under BCA CW01, with the ability to tender for Public Sector construction projects of unlimited value, and is a main contractor for both the public and private sectors in Singapore. The Group also has an A2 grade under BCA’s CW02 category for civil engineering, allowing KSH to tender for Public Sector projects for values of up to S$85 million.

KSH has an established track record of handling construction projects across a broad spectrum of industries, and its projects have performed well in CONQUAS, a standard assessment system on the quality of building projects. KSH had won several BCA Construction Excellence Awards including that for Mount Alvernia Hospital in 2016, Madison Residences in 2014, as well as Fullerton Bay Hotel and NUS University Town’s Education Resource Centre in 2013, amongst others. In 2019, KSH received the BCA Construction Excellence Award (Excellence) for NUS University Sports Centre and Construction Excellence Award (Merit) for Heartbeat@Bedok.

Through strategic alliances and joint ventures, KSH’s property development and investment presence spans across various real estate sectors including residential, commercial, hospitality, and mixed-use developments. Apart from having successfully executed residential and mixed-use development projects in Singapore and the People’s Republic of China (“PRC“), the Group has jointly acquired properties in other geographies including the United Kingdom, Australia, Malaysia and Japan. It will continue to explore opportunities in new geographies with favourable real estate cycles with a focus on Southeast Asia.

On the Property Investment front, the Group invests in yield-accretive assets that generate a sustainable stream of income with potential capital gains. This includes a 36-storey retail and office complex, Tianjin Tianxing Riverfront Square, in the heart of the business district of Tianjin, the PRC.

The Group seeks to continue broadening its businesses and projects, and explore opportunities in new markets while striving towards sustainable growth to enhance shareholder value.

The Wilshire en bloc sale tender launched with S$98.07m indicative guide price

DEC 28, 2017 – The Business Times

THE tender for the collective sale of the freehold The Wilshire along Farrer Road has been launched.

Savills Singapore, the marketing agent for the District 10 property’s collective sale, said that the indicative guide price is S$98.07 million, which works out to S$1,525 per square foot per plot ratio (psf ppr) based on the existing gross floor area (GFA) of 64,310 sq ft.

The Wilshire, which is on a 39,130 sq ft site, is about 500 m from Farrer Road MRT Station.

The existing GFA reflects an equivalent plot ratio of 1.643, which exceeds the 1.6 plot ratio for the site in the Urban Redevelopment Authority’s Master Plan 2014. The site is zoned for residential use.

“The site can be redeveloped into a new 12-storey project up to the current GFA, with no development charge payable,” said Suzie Mok, senior director of investment sales at Savills Singapore.

The Wilshire, which was built in the 1980s, is an eight-storey development with 20 apartments with strata areas ranging from 2,196 sq ft to 5,662 sq ft; owners stand to receive gross sales proceeds ranging from S$3.7 million to S$6.8 million per unit respectively, based on the indicative guide price.

Savills had also previously marketed The Wilshire’s collective sale in 2014; back then, the indicative guide price was S$96-98 million. However, the Singapore residential property market sentiment was pretty grim back then, following the introduction of the Total Debt Servicing Ratio (TDSR) framework in late June 2013.

Ms Mok is more sanguine about finding a buyer for The Wilshire site this time round, given the current collective sale boom.

She is also counting on a spillover of interest in the site from the buzz being generated from the Government Land Sale (GLS) site in Holland Road that is currently up for tender. “The neighbourhood is poised to enjoy the convenience of an upcoming mall and the amenities from the future project on the GLS site which will be the catalyst for potential capital value uplift in the near future,” she added.

The Holland Road GLS site is zoned for commercial and residential use.

The tender for The Wilshire will close on Jan 25, 2018.

source:
https://www.businesstimes.com.sg/real-estate/the-wilshire-en-bloc-sale-tender-launched-with-s9807m-indicative-guide-price