A last-ditch attempt by Dynamic Investments to thwart the Holland Hills Mansion en bloc sale was over in less than 20 minutes yesterday. In a Court of Appeal hearing, three judges, including Chief Justice Chan Sek Keong, upheld last October’s High Court ruling that the Strata Titles Board had approved the $292-million sale in good faith. The issue in contention was the board’s approval of the sale...
Enbloc
Dynamic Investments, which owned the largest unit of Holland Hills Mansion, had tried to appeal against the Strata Titles Boards’ (STB) approval of the S$292 million sale, but its case was dismissed by the Court of Appeal on Tuesday. Dynamic Investments had argued that although the sales committee followed the guidelines set down by the Singapore Institute of Surveyors and Valuers, it did not assess if...
STB stops Allgreen’s purchase of condo for lack of ‘good faith’ AN APPLICATION for the en bloc sale of Regent Garden has been dismissed by the Strata Titles Board (STB) - much to the delight of the majority owners. A group of 25 owners at the 31-unit condominium had earlier sued the buyers, Allgreen Properties, for allegedly breaching the sale and purchase agreement by grossly undervaluing the...
SINGAPORE has seen several ugly en bloc tussles but this is a first. The majority owners, having agreed to sell their condominium, are now suing the buyers. A group of 25 at the 31-unit Regent Garden is alleging that developer Allgreen Properties has breached the sale and purchase agreement by grossly undervaluing the condominium. The owners filed a claim last Monday with the High Court to declare that...
Condo’s residents want to stop repeated en bloc efforts, will seek Prof Jaya’s help YET another attempt to put Bayshore Park on the en bloc market has been nipped by poor attendance, and residents who are not interested in selling are fed up with the repeated efforts. They now want to consult Law Minister Prof S Jayakumar - who is also their Member of Parliament (MP) - during a Meet-The-People...
Minority owners say NUS should not follow majority in en bloc sale IT HAS remained silent — and passive — in the protracted saga over the proposed sale of Gillman Heights (picture) to developer CapitaLand for $528 million. But now, the National University of Singapore (NUS) finds fingers pointing at it after the Strata Titles Board (STB) approved the deal on Friday. The biggest faction opposed to...
DEPENDING on which side you are on, it is a case of try and try again, or deja vu, as some residents will testify. Condominium en bloc sales have cooled, due in part to the new Land Titles (Strata) Act that came into force in October, but at least two large developments are getting back into the game. Bayshore Park, on Singapore’s East Coast, is in the process of forming a new sales committee after it...
An iconic redevelopment site at the heart of the CBD has been put up for sale. Currently known as The Riverwalk, the 82,317-sq ft site is zoned for commercial use. It has a gross plot ratio of up to 4.9, and has the potential to be redeveloped into an iconic commercial building with a gross floor area of about 403,351 sq ft, subject to approval and payment of development charge and land premium for the...
The Chancery Court residential development along Dunearn Road has been put up for en bloc sale. CB Richard Ellis said 124 out of the 144 units, representing more than 87 percent of the share value, have signed the Collective Sale Agreement (CSA). The prime site is located next to Anglo-Chinese School (Barker Road). Chancery Court sits on 24,074.4 square metres of prime land and is a short walk to Newton...
Players note changes protect minority owners, improve sales proceedings. Changes to regulations governing collective property sales — which take effect today — favour the minority owners, said lawyers and property experts at an en bloc property seminar yesterday. They could get a higher sales price if their objections to the sale are valid, while the provision for a change of mind following the...