But some residents of Nim Gardens happy to stay, citing condominium's size, green surroundings A planning provision has hampered the plans of some residents at Nim Gardens to make more money should their development go up for an en bloc sale. Nim Gardens in Seletar Hills is 10 storeys. According to the rule, any new development cannot exceed this height, nor the gross floor area. This means residents...
Collective Sales
Pender Court, a 48-unit development at the foot of Mount Faber, has become the eighth successful en bloc sale in Singapore this year. The property was sold to Hoi Hup Realty for S$95 million. That translates to about $1,007 per square foot per plot ratio. Credo Real Estate launched a tender for the site that closed in May. The collective sale is subject to approval from the Strata Titles Board. With...
Two residential sites located near the Kovan MRT Station and in Orchard Road were launched separately for collective sale yesterday. Property consultant Credo Real Estate announced the sale of Goodrich Park in Simon Lane with offers likely to be around $80 million to $85 million. More than 80 per cent of the owners have agreed to the sale and each may gain between $1.54 million and $1.63 million for the...
Cavenagh Mansions, a freehold residential redevelopment site along Cavenagh Road, has been put up for sale by tender. Its marketing agent Knight Frank said the guiding sale price is S$55 million to S$60 million. This translates to a land price of S$1,258 to S$1,367 per square foot per plot ratio. This is based on the potential gross floor area of about 45,768 square feet, inclusive of the additional 10...
Another site is set to test the en bloc property market here. Goodrich Park at Simon Lane has been released for sale by tender with an asking price of S$80-85 million. At that price, each owner stands to get on average between S$1.54 million and S$1.63 million. The site, located in District 19 near Kovan MRT, is currently a 52-unit development. It has a land area of close to 98,000 square feet with a...
Two freehold residential sites have been put up for collective sale for the same asking price - at least $22.5 million each - while another en bloc deal has been sealed for $95 million. The 11-storey Waldorf Mansions in the Balestier area was built in the 1990s and occupies 11,384 square feet. Under the Master Plan 2008, the site is zoned for residential development and can be built up to a height of 36...
Changes to the Land Titles (Strata) Act were passed in Parliament yesterday, providing more clarity to the en bloc sales process. But some Members of Parliament said the amendments may not fully take into consideration the interest of property owners. Expected to take effect next month, the amendments are intended to provide greater transparency and streamline procedures for collective sales, after the...
A freehold residential site at Hillview Terrace has been placed for sale by tender. Its marketing agent, DTZ, said owners of the properties there have agreed to put up their units for collective sale. The Hillview Terrace plot comprises even numbered units of between 12 and 24. The site occupies a land area of some 49,164 square feet (4,567.5 square metres) and it can be developed into a 10-storey...
Tempers flared at Thomson View condominium yesterday when a scheduled extraordinary general meeting (EOGM) for the establishment of a new en bloc sales committee had to be called off due to a lack of quorum. Thomson View's appointed managing agent CKH Strata Management called off the meeting after it declared that the minimum 30 per cent of share value, made up of residents or their proxies, required to...
The Strata Titles Board (STB) has approved the collective sale of Dragon Mansion to RL Developments, a wholly-owned unit of Roxy-Pacific Holdings. This makes Dragon Mansion the first collective sale site to have successfully obtained STB's Sale Order under the stricter legislation governing collective sale that came into force in October 2007. At a sale price of S$100.8 million, Dragon Mansion is also...