Affinity at Serangoon Coming Soon



Affinity at Serangoon is an upcoming Mega Development along Serangoon North Avenue 1 by Oxley with the envision of "Come HOME to all that you CHERISH". It will feature 1012 Apartments (1-4 Bedrooms), 40 Units of Strata Landed House as well as 5 Commercial Units. Most of the units (around 60%) are 1 or 2 bedroom units. Showflat Target Preview: End May 2018.

Affinity also formerly known as Serangoon Ville, is Privatised HUDC estate in Serangoon North Avenue 1 has been sold to an Oxley Holdings-led consortium which comprises of Oxley Holdings, Unique Invesco, Lian Beng and Apricot Capital for S$499 million. The four companies had earlier in May teamed up to acquire Rio Casa, a former HUDC estate in Hougang, in a collective sale for S$575 million.

The purchase price for Serangoon Ville at S$499 million works out to a land price of close to S$835 per square foot per plot ratio (psf ppr), which includes the estimated differential premium of S$195 million payable to the state for a top-up to a fresh 99-year lease and for the intensification of the 296,913 sq ft site to a gross plot ratio of 2.8. Given the land price of close to S$835, the estimated break even price will be in the range of S$1,300 and therefore the estimated selling price will be likely be above S$1,500 psf. It was noted that the winning price of S$835 psf ppr is lower than the next plot of land at Serangoon North Avenue released under Government Land Sales (The Garden Residences) at S$965 psf ppr.

More information at https://investintproperty.com/properties/affinity-at-serangoon/

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