BALMORAL Condominium, located in the prime District 10 area, has been put up for sale by tender with an indicative price tag of $171 million to $175 million, or about $1,866 to $1,910 per square foot per plot. Marketing agent Savills Singapore said over 80 per cent of owners have agreed to the collective sale. A previous unsuccessful attempt at enbloc sale had been made in 2007 at much lower prices. The...
Enbloc
A condominium near Novena MRT is teaming up with an adjoining site for an en bloc sale. The 50-unit development Pastoral View is being offered for joint sale with an adjoining land parcel at Bassein Road. Property consultant Credo Real Estate says the sellers are looking at a price of between S$130 million and S$150 million. Credo adds that by combining the two sites, developers will find the enlarged...
Despite changes in the Land Strata Titles Act, developments are continuing their en bloc runs Property owners with en bloc sale aspirations seem unfazed by the new provisions to the Land Strata Titles Act which took effect last week as a number of them are still proceeding with their collective sales as planned. Developments such as Allsworth Park, Mayfair Gardens, Thomson View and Shenton House are...
Holland Tower, a freehold residential apartment block in District 10, is up for sale by tender. Sole marketing agent Jones Lang LaSalle said the 21,879 square foot site is zoned for residential use and sits in the Holland Park Good Class Bungalow Area. It has a gross floor area of about 43,691 square feet and has the potential to be redeveloped into a boutique residential development of 52 units of 800...
Prices now start from a higher base and attractive prime sites have already been sold Last Wednesday, a relatively small property, Melrose Court, off Balestier Road, was launched for collective sale. Owners of the 32 freehold units there are asking for $48 million, and hoping to reap between $1.23 million and $2.46 million each. Marketing agent Colliers International said the 'en bloc' premium each...
Sale proceedings may have begun at up to 80 developments, with many more to follow They were a feature of the last boom but fast fell out of favour when markets went south, yet there are signs that another collective sale rush is in the making. There have been at least 16 collective sales this year, not counting many smaller ones that may have gone unreported. This is in stark contrast to last year,...
FAR East Organization has signed a deal to buy 31 Parbury Avenue off Upper East Coast Road for $55 million - a price that works out to $898 per sq ft of land area. A two-storey bungalow stands on the sprawling 61,240 sq ft freehold site, which can be redeveloped into eight luxury bungalows or a strata landed-housing scheme comprising either 14 bungalows or 28 semi-detached houses or 37 terrace houses,...
Freehold residential property Cavenagh Mansions has been sold to SDB Asia for S$42.4 million. Property consultancy Knight Frank said this translates to a land price of S$1,025 per square foot per plot ratio on the potential saleable area of 41,608 square feet. SDB Asia is a wholly-owned subsidiary of Selangor Dredging Berhad (SDB). SDB is a property development and management group listed on the main...
The Land Titles (Strata) (Amendment) Act, enacted by Parliament on May 18, will take effect from 15 July 2010. The key provisions of the new Act include: * Refinement of the Strata Titles Board's role to focus on mediation for en bloc sale applications. * Imposition of a two-year restriction period, from the date of the initial failed en bloc attempt. The first retry requires approval from 50 per cent...
New rules come into effect today The rush to complete the process of a couple of en bloc sales this month have probably paid off for the owners. This is because if there had been any delay, their properties would be subject to new en bloc rules which will come into effect today. Two recent en bloc sales sealed this month are the People's Mansion at Lorong 31 Geylang sold for $42.68 million, and Meng...