Ridout Road Bungalows Rental Saga

[Mustank]

[mersaylee]

On 5/18/2023 at 5:42 PM, Mustank said:

Thanks to kooahjiao who let the pussy out for a ganglick...😁

[Carbon82]

On 5/14/2023 at 12:59 PM, RadX said:

he has a point tho...

 

If this is GMS PSLE maths paper, he would have to retake the paper again. 

Read carefully, 525,171 ft2 is the TOTAL land area for houses within the zone, including #24 & #31. The 661,272 ft2 he quoted is more than just double count.

To build that 2,000+ units of 4 room flats, they basically have to vacate most, if not all the houses at Rideout Road, and what do you think will be the cost? Easily in a 10 digits figure, and so how much will each 4 rooms flat cost?

[Victor68]

On 5/17/2023 at 3:44 PM, Spidey10 said:

I thot maintenance is by the owner not the tenant? No?...noob here coz i dun own any landed property...and as a tenant like if I find the aircon not working, i call the owner and he will send someone over to fix it. All paid by the owner, also the condo maintenance fees are paid by owner leh...

so taking these methodology, i presume if i rent the place and aircon leaking, or walls need repanting...or trees need to cut, all these need to inform owner and owner need to kaw tim right...or am i wrong?

so if we take the scenario here and apply to the 2 GCB....They just pay rent, the rest is "owner" fix and pay.....no?

It depends on the lease but usually the big ticket items are owner and fair wear and tear. Of course who is the tenant also very important. Like if you let your mistress stay, you maintain everything lah. 😆

[Spidey10]

On 5/18/2023 at 5:19 PM, Benarsenal said:

Pritam has joined the party

https://www.todayonline.com/singapore/wp-pritam-singh-parliament-questions-ridout-road-state-properties-sla-information-2174096

rightly so....else will be swept under the carpet and become no issue....

[therock]

On 5/17/2023 at 3:44 PM, Spidey10 said:

I thot maintenance is by the owner not the tenant? No?...noob here coz i dun own any landed property...and as a tenant like if I find the aircon not working, i call the owner and he will send someone over to fix it. All paid by the owner, also the condo maintenance fees are paid by owner leh...

so taking these methodology, i presume if i rent the place and aircon leaking, or walls need repanting...or trees need to cut, all these need to inform owner and owner need to kaw tim right...or am i wrong?

so if we take the scenario here and apply to the 2 GCB....They just pay rent, the rest is "owner" fix and pay.....no?

Yep big items are

like insurance there’s an excess

so the small sum items will be taken care of by the tenants 

[Voodooman]

On 5/18/2023 at 6:33 PM, Carbon82 said:

If this is GMS PSLE maths paper, he would have to retake the paper again. 

Read carefully, 525,171 ft2 is the TOTAL land area for houses within the zone, including #24 & #31. The 661,272 ft2 he quoted is more than just double count.

To build that 2,000+ units of 4 room flats, they basically have to vacate most, if not all the houses at Rideout Road, and what do you think will be the cost? Easily in a 10 digits figure, and so how much will each 4 rooms flat cost?

It is not his maths but English comprehension skills. He double counted the land area of 31 Ridout Road, inflating the land area by 26%.

But 525,171 sq ft (containing 3 BWB), equivalent to 9 football fields, of land can still build a lot of flats.  His maths is therefore not wrong. 

If you mark to market the land cost, may lose money building flats lah but cashflow is confirmed positive for the government already owns the land and god knows how much they paid for it but it should be dirt cheap. 

Edited May 19, 2023 by Voodooman

[BanCoe]

On 5/19/2023 at 1:15 PM, yishunite said:

If lets say the property value is $25m and expected annual yield is 3% ($750k pa) then rental should be $750k÷12 = $62.5k/month

This ignores maintenance cost and we also know market rate is waaayyy more than 3%... but since it is bidding and gahmen sometimes choose "market price" (when calculating that HDB sales made at loss) and other timed choose land cost 😂 we shall never know what is "fair"

Does minister get housing allowance on top of salary ah

Good old dayz ……. Workers get workers quarters to stay in  …… just saying only lah 🤣

[Meanmachine]

@Spidey10 Yes, correct, renting any property here maintenance fees is the responsibility by Landlord, tenant only pays the monthly rental and rental deposit up front including minor repairs like blown bulbs, fuses and air-con service contract on Quarterly basis.

[Meanmachine]

@inlinesix We are more than happy to thank Mr Kenneth who posted the historic discovery 🥰

[BanCoe]

On 5/20/2023 at 5:08 PM, Meanmachine said:

@Spidey10 Yes, correct, renting any property here maintenance fees is the responsibility by Landlord, tenant only pays the monthly rental and rental deposit up front including minor repairs like blown bulbs, fuses and air-con service contract on Quarterly basis.

I’m kinda confused ….. when we rent govt commercial properties , we have to pay separate component like conservancy charges to JTC /HDB and all inside maintenance is on the tenant too and even rubbish collection by your own Pte contractor separately some more 

[Freeder]

On 5/17/2023 at 12:21 PM, Watwheels said:

For foreign minister using it I can think of him housing foreign dignitaries who are here for business or visit. Foreign VVIP that need security around the clock this will be suitable instead of hotels. 

For home affairs I dunno what they do with it? House vvip criminals? Or are they just using their names for admin purpose? Surely a lot of questions.

For private use, I highly doubt so. Although a petrol kiosk and McD is nearby there is no connecting walkway connecting to these places. For high security and privacy this two places will be ideal. But for convenience sake they are not so good. 

Like that transport ministar should be staying there.. coz he can have daily open hse with all the citizens for them to pour out all their frustrations but wait….

[JanM]

On 5/18/2023 at 6:33 PM, Carbon82 said:

If this is GMS PSLE maths paper, he would have to retake the paper again. 

Read carefully, 525,171 ft2 is the TOTAL land area for houses within the zone, including #24 & #31. The 661,272 ft2 he quoted is more than just double count.

To build that 2,000+ units of 4 room flats, they basically have to vacate most, if not all the houses at Rideout Road, and what do you think will be the cost? Easily in a 10 digits figure, and so how much will each 4 rooms flat cost?

Most, if not all of the B&W bungalow plots along Ridout Road belong to the state so the government does not have to pay any compensation to landowners were those plots be redeveloped.  However, I think Mr Goh is just conjecturing.  

I for my part think this issue shows an irrational aspect of land use in Singapore.  What is the point of trying to lease these properties if the demand at the true land market price does not exist ?  Only a few ultra high net worth individuals are in the market for such rentals and thus they underbid (Something like the $1 COE when there are fewer bidders than the number of COE on offer).  Maybe it is time to review whether such big plot of land should be left empty just for the sake of conserving those bungalows ?  The government could find a way to combine all the B&W lots together to form a park that is then open to all Singaporeans instead of leasing it at a depressed price to those few that can afford it.

[Sosaria]

On 5/20/2023 at 10:19 PM, JanM said:

Most, if not all of the B&W bungalow plots along Ridout Road belong to the state so the government does not have to pay any compensation to landowners were those plots be redeveloped.  However, I think Mr Goh is just conjecturing.  

I for my part think this issue shows an irrational aspect of land use in Singapore.  What is the point of trying to lease these properties if the demand at the true land market price does not exist ?  Only a few ultra high net worth individuals are in the market for such rentals and thus they underbid (Something like the $1 COE when there are fewer bidders than the number of COE on offer).  Maybe it is time to review whether such big plot of land should be left empty just for the sake of conserving those bungalows ?  The government could find a way to combine all the B&W lots together to form a park that is then open to all Singaporeans instead of leasing it at a depressed price to those few that can afford it.

Give you empty land and space for recreation is the last thing they'll do now. You see all the empty grass fields around the residential areas, getting lesser and lesser, as long as there's an empty plot, it will be fenced up and under construction soon. The rich and well-connected are like kampong chickens, while the rest of us are like battery chickens

 

[Meanmachine]

On 5/20/2023 at 6:55 PM, BanCoe said:

I’m kinda confused ….. when we rent govt commercial properties , we have to pay separate component like conservancy charges to JTC /HDB and all inside maintenance is on the tenant too and even rubbish collection by your own Pte contractor separately some more 

Well TBH I really not so clear about Commercial building rent maintenance payment procedure, it like we have far too may departments taking care of a road resurfacing maintenance program upgrades, or upsize certain road category, eg digging of Power Grid, Fibre cable, PUB piping, LTA road extension, Tree cutting & trimming activities, et cetc, will come under many Govt agencies dept, within a short period of 1/2 weeks the pot holes can been dug up, replaced and cover up, tml will be dug up following by Dept B /C /D respectively 🤭

[Meanmachine]

On 5/20/2023 at 10:19 PM, JanM said:

Most, if not all of the B&W bungalow plots along Ridout Road belong to the state so the government does not have to pay any compensation to landowners were those plots be redeveloped.  However, I think Mr Goh is just conjecturing.  

I for my part think this issue shows an irrational aspect of land use in Singapore.  What is the point of trying to lease these properties if the demand at the true land market price does not exist ?  Only a few ultra high net worth individuals are in the market for such rentals and thus they underbid (Something like the $1 COE when there are fewer bidders than the number of COE on offer).  Maybe it is time to review whether such big plot of land should be left empty just for the sake of conserving those bungalows ?  The government could find a way to combine all the B&W lots together to form a park that is then open to all Singaporeans instead of leasing it at a depressed price to those few that can afford it.

   My understanding of colonial B&W GCB bungalows were built in the early years 19th century, approx last 500 units of such dark timber beams & whitewashed walls which was noticeable form the appearance., most ly are under preservation according to URA.

The modern GCB was adapted from Single storey building mansion occupying the British army officer in India, Bengal with smaller hoses for the workers as Bangla, cooks and cleaners / drivers. I think we can still see some of them along Sembawang towards Seletar, Rochester Park & Nepal hill. SLA is the body that governs the lease of all B&W Pty here, so you can check with them on maintenance and fees etc 

[Spidey10]

On 5/19/2023 at 1:15 PM, yishunite said:

If lets say the property value is $25m and expected annual yield is 3% ($750k pa) then rental should be $750k÷12 = $62.5k/month

This ignores maintenance cost and we also know market rate is waaayyy more than 3%... but since it is bidding and gahmen sometimes choose "market price" (when calculating that HDB sales made at loss) and other timed choose land cost 😂 we shall never know what is "fair"

Does minister get housing allowance on top of salary ah

if really this "market price" is granted previliage to certain pple and we will never know what is "fair" - isn't this akin to pilfering from our "reserve coffers"?

Edited May 22, 2023 by Spidey10

[Victor68]

On 5/22/2023 at 8:46 AM, Spidey10 said:

if really this "market price" is granted previliage to certain pple and we will never know what is "fair" - isn't this akin to pilfering from our "reserve coffers"?

If government is giving away some charity using public funds, nothing to hide, just make it public lor. We would like to know who is enjoying these charity. 😆