Chances are, you likely won’t bother giving these condos in Singapore a second look if you walked or drove past them. In fact, you might even think that these condominiums are… gasp… HDB estates. Ironically, these condos might have the highest en bloc potential.
We say this because their low unit densities of these condos versus land area could make them attractive targets for developers eyeing an en bloc purchase in the future (some of these have had failed collective sale attempts, and one of them have been successfully sold en bloc at time of writing).
For these featured condos, we’re not saying a collective sale will surely happen, of course. But assess them carefully and it might be worth serious consideration if you’re looking to buy a resale condo. Even without an en bloc, you get to enjoy a home that’s not only well-maintained, but also far more spacious than newer developments!
Condo with en bloc potential #1: Bedok Court
Tenure: 99 years
Number of units: 280
Average PSF price (past 1 year): $670.40
Bedok Court is arguably the most affordable condominium on this list, despite being located within walking distance of Tanah Merah MRT. Because this property is on the older side, unit floor areas are large that have spacious balconies (e.g. a 3-bedroom apartment at a whopping 2,271 sq ft).
For buyers with children, there are several schools located within 1km of the condominium, including Temasek Primary School, Bedok View Secondary School and Bedok South Secondary School. Some of the south-facing higher floors of this condo even enjoy an unblocked sea view!
A collective sales committee was set up in Bedok Court back in 2007, but they’ve not had any success to date. That said, the property’s affordable price and age make it a good candidate for an en bloc sale.
Condo with en bloc potential #2: Ridgewood Condominium
Tenure: 999 years
Number of units: 464
Average PSF price (last 6 months): $1,260.80
Ridgewood Condominium is located in a prime District 10, and like Bedok Court, units are larger than what you’d get at newer developments. While the nearest shopping centre (The Clementi Mall) and MRT (Dover) is quite a distance away, there’s a supermarket nearby (Cold Storage Jelita), as well as a mini-mart within the condominium. The main draw is that this condo is located in a laid-back landed neighbourhood, within 1km to Henry Park Primary School.
Ridgewood Condominium set up a collective sales committee in 2017, but it hasn’t been successful in its attempt to push for a sale. Both of the condo’s previous en bloc attempts (2007 and 2013) also failed due to insufficient number of votes.
Condo with en bloc potential #3: Waterloo Apartments [SOLD EN BLOC on 15 November 2018]
Tenure: 999 years
Number of units: 30
Average PSF price: NA
One of Waterloo Apartments’ main draw is its strategic location; it’s just four minutes away from both Bencoolen and Bras Basah MRT stations on foot, and residents can also walk to Bugis MRT and Bugis Junction as well. This 999-year leasehold site has been zoned as “residential with first storey commercial”, and it has outline planning permission for hotel use.
The property was put up for en bloc in September 2018, with an asking price of $115 million. According to Waterloo Apartments’ marketing agent Cushman & Wakefield, developers can potentially build about 180 hotel rooms with an average room size of 20 sq m (215 sq ft). On 15 November 2018, the development was successfully sold en bloc for $131.1 million to a fully-owned subsidiary of Fragrance Group.
Condo with en bloc potential #4: Bishan Park Condominium
Tenure: 99 years
Number of units: 320
Average PSF price (last 1 year): $876.30
Bishan Park Condominium looks like a 90s HDB experiment, with tacky geometry dotting its facade. And for the longest time, residents have had to take a feeder bus to the nearest MRT station — Bishan.
However, this remains a sought after property with a couple of plus points and upsides. First, it’s within touching distance of Ai Tong School. Furthermore, the long-awaited Bright Hill MRT station on the Thomson-East Coast Line will open at the condo’s doorstep (a 3-minute walk) come year 2020. Meanwhile, direct access to Ang Mo Kio-Bishan Park — via a back gate — is a definite selling point of this condo.
Most of all, the density of this condo pales in comparison to the newer The Gardens at Bishan and Thomson Grand across the street. Blocks at Bishan Park Condominium are only 10 storeys tall. Given the profit margin of redeveloping a mid-density condo into a high-density one, the condo may well attract en bloc suitors down the line, although no collective sale effort has yet been made.
Condo with en bloc potential #5: Windy Heights
Number of units: 200
Average PSF price: $1,204
Built in the late 1970s, Windy Heights is a relatively old condominium located at Jalan Daud in the neighbourhood of Kembangan. Unit sizes here are nothing short of huge; the standard configuration is a 4-bedroom apartment at over 2,400 sq ft. There are 4 units on each floor, much in the fashion of HDB point blocks, but upsized.
Windy Heights has attempted an en bloc twice so far, in April and August this year. While its reserve price was revised downwards in its August attempt (from $806.2 million to $750 million), there have been no takers.
Know any condos with en bloc potential? Share them with us in our comments section or on our Facebook community page.
If you liked this article, 99.co recommends En Bloc Potential: 7 Reasons Why a Collective Sale Tender Fails and 5 Most Insta-worthy Condos in Singapore [2018 edition]
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