One condominium in the east has officially thrown in the towel for an enbloc sale - at least for now. The 1080-unit Mandarin Gardens saw the disbanding of its two-year-old collective sales committee last week. In a letter to residents, the main reasons cited were unfavourable market conditions and the moving in of new residents, whose views the committee felt should be heard. The sales committee had...
Enbloc
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...
Some homeowners at the Pine Grove estate along Ulu Pandan Road are making another attempt to sell their properties in a collective sale. This will be their third bid since 2005. MediaCorp understands that the minimum reserve price for the 660-unit unit estate is S$1.33 billion. Depending on the size of the unit and the development charge that is payable, owners stand to pocket an average of S$2 million...
Home owners at the Laguna Park condominium in Marine Parade are now faced with the choice of selling their homes at an average of 20 per cent lower than their initial asking price. This comes after a failed tender earlier this month. Then, the site received a bid from an Indonesian-owned, locally incorporated company of S$1.728 billion, but a downpayment could not be made in time. Since then, the...
Owners of units in Laguna Park, whose tender closed unsuccessfully on Friday, are now considering selling at a lower price. The new price is said to be between S$950 million and S$1 billion. The development's marketing agent Credo said residents are likely to receive letters advising on the situation in the next two or three days. Earlier, many property analysts said Laguna Park's initial S$1.2 billion...
OWNERS of East Coast condominium Laguna Park have failed in their bid to sell the property en bloc for $1.2 billion through a tender process. Industry analysts say the result was not surprising, considering the high asking price. However, in a curious twist of events, one company had submitted a bid for $1.728 billion - only to withdraw the offer on Thursday night. The estate's marketing agent, Credo...
The company that had submitted the higher of two bids withdraws, citing funding difficulties LAGUNA Park, which went up for collective sale last month at $1.2 billion, has failed to attract a buyer so far. The 528-unit leasehold project at Marine Parade remains unsold after the company that submitted the higher of two bids faced funding problems. At the close of the tender on Tuesday, two submissions...
The tender for the Laguna Park en bloc sale has closed unsuccessfully. Credo Real Estate said there were two bids for the 528-unit development at Marina Parade at the close of the tender on Tuesday. A local company whose shareholders are based in Indonesia had offered a price of S$1.7 billion, well above the owners' Reserve Price of S$1.2 billion. But Credo said by Thursday evening, the firm decided to...
Another collective en-bloc residential site is up for sale by tender. Meyer Place, off Meyer Road, is expected to fetch more than S$65 million, according to its marketing agent Cushman and Wakefield. The site has a land area of 28,167 square feet. Based on its maximum allowable plot ratio of 2.1, and with a potential development charge payment of S$3 million, the site will cost about S$1,100 per square...
Singapore property giant CapitaLand has ruled itself out of bidding for the Laguna Park estate, which was put up for collective sale earlier this week. CapitaLand's chief executive Liew Mun Leong said yesterday that the reserve price tag of some $1.2 billion for the estate is "too high to yield affordable homes". He was speaking on the sidelines of an event to unveil the design of The Interlace, an...