Olloi Condo @ 101 Changi Road | District 15 | Developed by K16 Development
Olloi Condo (Former Pomex Court) Units Mix
| Bedroom | Unit Type | Share Value | No. of Units | Size Range (sqft) |
| 3 Bedroom Flexi | 3AG/ 3AmG/ 3A/ 3Am/ 3A'/ 3Am' | 6 | 8 | 947 |
| 3 Bedroom + Utility | 3B/ 3B' | 6 | 3 | 947 |
| 3 Bedroom DK Flexi + Utility | 3C/ 3C' | 6 | 3 | 1001 |
| 3 Bedroom Flexi + Utility | 3D/ 3Dm | 6 | 4 | 1023 |
| 4 Bedroom + Utility | 4A/ 4A'/ 4AG | 7 | 4 | 1324 |
| 4 Bedroom + Utility + Yard | 4B/ 4B'/4BG | 7 | 4 | 1356 |
| 3 Bedroom PH + Utility | PH1/ PH1m/ PH3/ PH4/ PH5 | 7 | 6 | 1184 - 1313 |
| 4 Bedroom DK PH + Utility | PH6/ PH6m | 7 | 2 | 1593 |
Project Detail
Olloi Condo is a freehold apartment development located at 50 Lorong 101 Changi, District 15, Singapore minutes away from Eunos MRT Station. It was completed in 1986. Olloi Condo is close to East Coast Park and East Shore Hospital.
The owners of the freehold Olloi Condo are collectively seeking at least $37 million, or $998 psf ppr based on its 26,471 sqft land area. Olloi Condo, a three-storey, freehold, walk-up residential development in the Joo Chiat area, has been sold for S$37.6 million through a collective sale. The price works out to S$1,014 per square foot per plot ratio. No development charge is payable, said Alvin Er, key executive officer of Century 21 House & Home Property, who brokered the sale.
District 15 is being bought by K16 Development, the shareholders of which are Irwan Gawain and Yang Hui'en. Mr Er said the site may be redeveloped into a five-storey project with 34 units. This is based on the minimum average unit size of 100 sqm gross floor area stipulated by URA for the location.
Location
Olloi Condo is a freehold apartment development located at 50 Lorong 101 Changi, District 15, Singapore. It was completed in 1986. Olloi Condo is close to East Coast Park and East Shore Hospital. This Condominium/Apartment is accessible through the nearest train stations such as Eunos (EW7), Paya Lebar (CC9 EW8), and Dakota (CC8).
Eunos MRT Station
Paya Lebar MRT Station
Olloi Condo Nearby Amenities
A few feeder bus services are available near Olloi Condo. It is also near several good schools, such as Tanjong Katong Secondary School, Tanjong Katong Girls’ School, Kong Hwa School, Eunos Primary School and Chung Cheng High School.
Joo Chiat Lodge is also within walking distance to the stretch of restaurants located along Joo Chiat Road. Residents can drive down to the Parkway Parade shopping centre for a suite of amenities such as supermarkets, restaurants and eating establishments, banks, and boutique shops. Alternatively, residents may go to the nearer Eunos Crescent Market and Food Centre for daily necessities. The Parkland Golf Driving Range is also within reasonable driving distance.
Kong Kwa School
Chung Cheng Hight School
For vehicle owners, driving from Olloi Condo to either the business hub or the bustling Orchard Road shopping district takes about 15 minutes, via East Coast Parkway and Central Expressway respectively.
Analysis
A public tender for Olloi Condo is set to be launched on Feb 22, 2018, and to close on Mar 21. This was disclosed by Century2l, the property agent, who also stated how lucky a developer would be to acquire a development site within one of Singapore's pioneer towns.
Owners of this property that was built in 1986 want nothing less than SS37 million, a reserve price that leads to a land rate of S$998 per square foot per plot ratio (psf ppr).
Olloi Condo is an apartment within Joo Chiat estate, located along 50 Lorong 101 Changi Road within District 15. The area has precious history, and that alone might be an attraction to would-be developers. The property also has the advantage of being freehold, where the issue of lease upgrade costs does not arise.
Summary
Owners of this site that measures 26,471 sqft are likely to take home amounts ranging from S$1.5 to S$2.2 million if the apartment is scooped at the reserve price, and more if the highest bid exceeds the reserve price.
Part of the interesting history associated with Olloi Condo includes the fact it became a settlement a long time ago, and the first occupiers of the land were Europeans who lived there before 1917.
Later ownership of the land changed hands, and now visitors to the area cherish the mix of cultures in the region that includes Malay, Indian, Peranakan, and Eurasian.
It may interest visitors to learn that today's Joo Chiat Road used to be referred to as Confederate Estate Road, and the name change only occurred when the land was acquired by a local, Chew Joo Chiat.
The area is easily accessible, with the Eunos and Paya Lebar MRT close by. Also luckily for the developer, the area is currently zoned as residential, and with the allowed gross plot ratio being 1.4, new housing units can be developed up to five storeys.
Olloi Condo is real a paradise. The future begins here, where everything is meant for you. Let's discover right now to know more interesting information.
