-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Bandar Seri Alam , Masai Community
- Thread starter oracle76
- Start date
Golf club membership prices in flux
General upward movement expected, but SICC value to fall
By andrea soh [email protected]
Published February 18, 2014
[SINGAPORE] Golf club membership prices were in flux yesterday, as the market reacted to the news on the fates of the various courses here.
Among the four clubs most affected by Sunday's announcement, Tanah Merah Country Club (TMCC) will emerge a winner in its membership value, said golf membership brokers.
TMCC will have 10 ha of its land acquired by the government for Changi Airport; new taxiways will be built to link existing airport facilities with a new runway and the planned Terminal 5. However, the leases on its courses will be renewed.
The acquisition will affect six holes of its 18-hole Garden course, three tennis courts and two storage sheds, but the government will compensate the club. The amount is to be pegged to the market value of the land as at yesterday, when it was gazetted by the Singapore Land Authority.
Fion Phua, a golf membership broker, said: "They are being compensated with money, and land lease is being extended. Rightfully, their membership value should go up."
The membership value of TMCC is now about $118,000, compared with about $140,000 at the beginning of last year.
Uncertainty over the lease renewals has weighed on the membership prices for golf clubs with leases expiring within a decade.
Now that the fate of these golf clubs has been made clearer, their membership prices may have room to recover, given that most will have their leases renewed, said golf membership brokers.
Another reason that their prices will be supported is that there will be fewer courses left, said Lee Lee Langdale, another broker, noting that Keppel Club will be gone, and that the Singapore Island Country Club (SICC) will lose up to two courses.
For both Keppel Club and SICC, the outlook for membership prices is less positive.
The government said on Sunday that it will not renew the lease for Keppel Club when it ends in 2021.
One of the SICC's four golf courses will be made public, while the course next to it will be given a lease only until 2030, with the possibility that it could also be made public then too.
The government had, after talks with the club's general committee, initially decided on SICC's Bukit golf courses for this purpose, on the assumption that SICC would prefer not to give up its bigger Island location, where the club recently put more than $100 million into a clubhouse.
But after SICC members questioned at a briefing on Sunday why the Bukit location was chosen, the government said that it would leave the decision to them, subject to certain criteria.
The SICC membership price would certainly go down, said Ms Phua.
"Basically a four-room HDB flat has become 21/2-room HDB flat, so it'll come down. The lease may be longer, but you have to open your backyard to share with the public," she said.
Nonetheless, businessman and SICC member Ron Song was sanguine about the value of the club's membership, saying that members join to enjoy the facilities, not to sell their membership.
Keppel Club members, on the other hand, face the double whammy of having no golf course to play on in seven years and the possibility of higher golf club membership prices at other clubs. Some told The Business Times they will play in Malaysia and Bintan instead.
The fourth club affected by Sunday's announcements, the National Service Resort Country Club at Changi, is open only to existing and former NSmen, so its membership is not transferrable on the open market.
Yesterday, Orchid Country Club, offered a final seven-year lease till Dec 2030, told members that it welcomed the offer of the lease extension; it is awaiting more details, such as on the amount of land premium payable, and will study the financial implications for the club in the meantime.
Some 200 ha of 1,500 ha of golf course land will be freed up for other uses by 2030, as the government moves to use these plots of land at a higher intensity.
More golfer going to JB to play golf
Octville Golf & Country Club at Bandar Seri Alam are one of the best maintain golf club in Johor ... join now before the membership price increase ..
General upward movement expected, but SICC value to fall
By andrea soh [email protected]
Published February 18, 2014
[SINGAPORE] Golf club membership prices were in flux yesterday, as the market reacted to the news on the fates of the various courses here.
Among the four clubs most affected by Sunday's announcement, Tanah Merah Country Club (TMCC) will emerge a winner in its membership value, said golf membership brokers.
TMCC will have 10 ha of its land acquired by the government for Changi Airport; new taxiways will be built to link existing airport facilities with a new runway and the planned Terminal 5. However, the leases on its courses will be renewed.
The acquisition will affect six holes of its 18-hole Garden course, three tennis courts and two storage sheds, but the government will compensate the club. The amount is to be pegged to the market value of the land as at yesterday, when it was gazetted by the Singapore Land Authority.
Fion Phua, a golf membership broker, said: "They are being compensated with money, and land lease is being extended. Rightfully, their membership value should go up."
The membership value of TMCC is now about $118,000, compared with about $140,000 at the beginning of last year.
Uncertainty over the lease renewals has weighed on the membership prices for golf clubs with leases expiring within a decade.
Now that the fate of these golf clubs has been made clearer, their membership prices may have room to recover, given that most will have their leases renewed, said golf membership brokers.
Another reason that their prices will be supported is that there will be fewer courses left, said Lee Lee Langdale, another broker, noting that Keppel Club will be gone, and that the Singapore Island Country Club (SICC) will lose up to two courses.
For both Keppel Club and SICC, the outlook for membership prices is less positive.
The government said on Sunday that it will not renew the lease for Keppel Club when it ends in 2021.
One of the SICC's four golf courses will be made public, while the course next to it will be given a lease only until 2030, with the possibility that it could also be made public then too.
The government had, after talks with the club's general committee, initially decided on SICC's Bukit golf courses for this purpose, on the assumption that SICC would prefer not to give up its bigger Island location, where the club recently put more than $100 million into a clubhouse.
But after SICC members questioned at a briefing on Sunday why the Bukit location was chosen, the government said that it would leave the decision to them, subject to certain criteria.
The SICC membership price would certainly go down, said Ms Phua.
"Basically a four-room HDB flat has become 21/2-room HDB flat, so it'll come down. The lease may be longer, but you have to open your backyard to share with the public," she said.
Nonetheless, businessman and SICC member Ron Song was sanguine about the value of the club's membership, saying that members join to enjoy the facilities, not to sell their membership.
Keppel Club members, on the other hand, face the double whammy of having no golf course to play on in seven years and the possibility of higher golf club membership prices at other clubs. Some told The Business Times they will play in Malaysia and Bintan instead.
The fourth club affected by Sunday's announcements, the National Service Resort Country Club at Changi, is open only to existing and former NSmen, so its membership is not transferrable on the open market.
Yesterday, Orchid Country Club, offered a final seven-year lease till Dec 2030, told members that it welcomed the offer of the lease extension; it is awaiting more details, such as on the amount of land premium payable, and will study the financial implications for the club in the meantime.
Some 200 ha of 1,500 ha of golf course land will be freed up for other uses by 2030, as the government moves to use these plots of land at a higher intensity.
More golfer going to JB to play golf
Octville Golf & Country Club at Bandar Seri Alam are one of the best maintain golf club in Johor ... join now before the membership price increase ..
- Joined
- Jul 29, 2013
- Messages
- 3,923
- Points
- 48
More golfer going to JB to play golf
Octville Golf & Country Club at Bandar Seri Alam are one of the best maintain golf club in Johor ... join now before the membership price increase ..
Now it's called Christine. I am not a golfer so I am not sure whether it is a good golfing place.
- Joined
- Jul 29, 2013
- Messages
- 3,923
- Points
- 48
Finally did some recce around the neighbourhood after staying almost 3 months.
Found this attraction https://www.facebook.com/Big.Valley.Ranch.SG that is currently closed for renovation and due to be re-opened middle of this year according to the security guards. Highlight would be the horse-riding activities.
Saw the big Police HQ with live-in apartments. At first thought it was some new private condo! LOL!
Drove past the universities and thought it was located rather "ulu" and way off, walking for students is certainly out of the question! But saw the nice gardens and lakes. Would definitely explore more on weekends!
Found this attraction https://www.facebook.com/Big.Valley.Ranch.SG that is currently closed for renovation and due to be re-opened middle of this year according to the security guards. Highlight would be the horse-riding activities.
Saw the big Police HQ with live-in apartments. At first thought it was some new private condo! LOL!
Drove past the universities and thought it was located rather "ulu" and way off, walking for students is certainly out of the question! But saw the nice gardens and lakes. Would definitely explore more on weekends!
Hi ,
I like the surrouding area of Bandar Seri Alam , and i'm in the process of securing a Semi-D opp. Tesco Alam . The bank valuation is 580k , but seller wanted 608k . It is worth buying above Bank Valuation ?
The new Semi-D project near by almost double the price with smaller land size ...
I like the surrouding area of Bandar Seri Alam , and i'm in the process of securing a Semi-D opp. Tesco Alam . The bank valuation is 580k , but seller wanted 608k . It is worth buying above Bank Valuation ?
The new Semi-D project near by almost double the price with smaller land size ...
http://www.nst.com.my/news/2016/11/...llion-lee-chong-wei-international-sports-city
bandar seri alam become sport city .....Woei .. this is great news for the property there
bandar seri alam become sport city .....Woei .. this is great news for the property there
Similar threads
