Collective sales of such properties tend to be slow SINCE the phenomenon of collective sales started in 1994, there have been over 400 en bloc developments sold to date. Of these, only a handful, possibly about 10 or so, were mixed developments, that is, buildings with a variety of uses like shops, offices and apartments. Most of the successful en bloc sales were purely residential developments, or those...
Collective Sales
Two en bloc sale sites have come on the market - Culford Gardens at Siglap, with price expectations of $37-40 million, and two adjacent bungalows in Margate Road, which are expected to fetch more than $30 million. Both sites are freehold. In the Siglap/Upper East Coast vicinity, Credo Real Estate is handling the collective sale of Culford Gardens, which is on a 44,093 sq ft site. Under Master Plan 2008,...
CULFORD Gardens in Siglap has been put up for a collective sale with an asking price of between $37 million and $40 million. Marketing agent Credo Real Estate's managing director Karamjit Singh said that at this price, each unit owner can expect to get an average of between $1.54 million and $1.66 million from any eventual sale. The site has a land area of 44,093 sq ft, with 24 units of mainly...
Property consultants Credo Real Estate has launched the tender of Culford Garden at Siglap with an asking price of between S$37 million and S$40 million. At that price, each unit owner can expect to get between S$1.54 million to S$1.66 million from the en bloc deal. The collective sale site has a land area of 44,000 sq ft and comprises 24-units which are mainly three-bedroom apartments. The site is...
Residents of Neptune Court voted on Sunday to appoint law firm Tan & Au to undertake the privatisation of the sprawling estate. Sunday's meeting to amend the constitution, appoint a law firm and approve the privatisation committee lasted three hours amid heated outbursts from some residents. One complaint was the alleged lack of transparency in how the Neptune Court Owners' Association (NCOA) had...
The property collective sale market got an early boost with the year's first successful deal for the freehold three-storey industrial terrace factory building at No 6 Jalan Ampas, off Balestier Road. The three-storey strata-titled industrial factory building sits on a 27,838 sq ft land plot. Upon rezoning, the site may be redeveloped into a freehold high-rise residential development with a gross floor...
The strong response to Allgreen Properties’ private preview of Holland Residences at the corner of Taman Warna and Holland Road last week has created a buzz among owners of apartments at Holland Hill Lodge at the corner of Queensway and Holland Hill. Last week, the owners of the 11 units at the development collectively put up their three-storey apartment block for sale by tender, with an indicative...
Many property owners have been asking us: Is it time to sell en bloc? Are developers ready to buy? Should we start the process now, or wait for the market to pick up further? Are the new en bloc laws too onerous? In 2007, there were more than 100 such deals, but 2008 saw fewer than 10, and there was just one last year. So what is in store for 2010? We certainly do not have the answers to all of these...
Greenlodge Condominium on Toh Tuck Road has been put up for collective sale. The owners are asking for S$135 million for the site, which works out to S$683 per square foot per plot ratio (psfppr) inclusive of development charge. The freehold land of about 14,000 square feet currently comprises 80 units. Its marketing agent, Newman & Goh, believes the site can be potentially redeveloped to 211 units...
Dragon Mansion at 18 Spottiswoode Park Road has become the first successful en bloc sale in Singapore this year. The property was sold to a unit of Roxy-Pacific Holdings for S$100.8m including the development charge. That translates to about S$863 per square foot per plot ratio. CKS Property Consultants launched a tender for the site in July, after it obtained consent from more than 80 per cent of the...