Collective Sales

Former HUDC estate Laguna Park has been put up for collective sale at a reserve price of S$1.48 billion, marketing agent Knight Frank Singapore said on Monday (Sep 17). This is the third time owners of the development at Marine Parade Road are attempting an en bloc sale, after two earlier shots in 2007 and 2010. The 99-year leasehold development was built in 1978 and comprises seven blocks of 506...

The tender for Horizon Towers - the first major en bloc exercise to close after July's property cooling measures - ended on Wednesday without a single bid. While strong interest was not expected given the tough measures introduced on July 6, the absence of any bids from developers added to the disquiet in the en bloc market, especially big estates eyeing billion-dollar tabs. Horizon Towers' marketing...

Freehold development Gisborne Light in district 10 will be put up for collective sale in a public tender starting Sept 13, with an asking price of S$37 million, which translates to S$1,671 per square foot per plot ratio (psf ppr). "The land rate of Gisborne Light is attractive and fairly adjusts for the current market sentiment following the introduction of new cooling measures on July 6, 2018," said...

In what is a record for asking price of collective sale sites, residents at the Pandan Valley condominium have agreed on a reserve price of S$2.6 billion in another collective sale attempt. Analysts said the 623-unit development’s price tag — set during Saturday’s (Sept 8) second Extraordinary General Meeting (EOGM) which TODAY attended — sets a “new benchmark” in the asking price of...

East Court is the latest development to launch for collective sale on Sept 10. The owners have set a minimum price of $19 million. This will be East Court's first collective sale attempt, says marketing agent OrangeTee & Tie. The eight-unit, freehold apartment development on Koon Seng Road in district 15 sits on a 13,351 sq ft plot that is zoned for residential use, and has a gross plot ratio of 1.4....

An associate of OKP Holdings has won the tender for the collective sale of 32-unit Phoenix Heights in Bukit Panjang, the mainboard-listed construction engineering company said on Tuesday. The 25 per cent-owned USB Holdings Pte Ltd bid S$33.1 million for the 99-year leasehold condominium in Phoenix Avenue, with the price reached "after taking into account the prevailing market conditions and market...

Cheng Hoe House, a group of eight freehold townhouses, has been launched for collective sale by tender on Monday for S$28 million, marketer Teakhwa Real Estate said. The reserve price reflects a land rate of S$1,082.9 per square foot per plot ratio (psf ppr), including a development charge of about S$6.1 million. Teakhwa Real Estate said the land price would be reduced to S$1,052.5 psf if the 10 per...

Owners of Kingsley Mansion are launching an en bloc sale by tender for the 18-unit condominium in the Balestier area with a reserve price of S$45.5 million. The reserve price for the 14,350 square foot freehold site translates to a land rate of S$1,132 per sq ft per plot ratio (psf ppr), with no development charge payable on its gross plot ratio of 2.8 times or the maximum permissible gross floor area...

Golden Mile Complex, a familiar landmark with its eye-catching stepped terraced design, is going en bloc. As 724 owners of 550 units have signed the collective sale agreement – representing 80.83 per cent of the total share value of the development – the required approval of 80 per cent has been met. The notice of the proposed collective sale was dated Aug 3. The neighbouring Golden Mile Tower,...

With less than a third of collective sale sites sold so far this year and no deal inked since property cooling measures took effect more than a month ago, one property analyst has declared the current cycle of en bloc fever to be over. More than 30 collective sale sites have failed to secure a buyer since January, according to data from real estate agencies Huttons Asia, Savills and Colliers. "This...