The City Towers collective sale tender was launched last January, and sold in February to a unit linked to Hong Kong tycoon Li Ka-shing for S$401.9 million. If a pair of siblings have their way, the collective sale of City Towers, sold last February to a unit linked to Hong Kong tycoon Li Ka-shing for S$401.9 million, will not go through. The brother and sister, who own two units at the freehold...
Enbloc
The New Year's Eve countdown is done, but the clock continues to tick for en bloc candidates as they race against a cooling market and various deadlines governing collective sales. The pressure has even led some projects to raise their asking price to persuade owners to come on board - which fly in the face of potential buyers' increasing aversion to mega tabs. Among them is the Dairy Farm estate,...
Cavenagh Gardens is the latest development in Singapore hoping for another chance at an en bloc sale in 2019, and owners are not budging from their first attempt's reserve price of S$480 million. That translates to a land rate of S$1,695 per square foot per plot ratio (psf ppr) inclusive of an estimated state land premium of S$18.4 million to purchase some 11,800 sq ft of state land, or S$1,541 psf ppr...
More than 30 collective sales sites have failed to find successful bidders at the close of tender, following the latest round of cooling measures introduced in July. In a bid to entice developers, around 15 en bloc projects have sought to lower their asking prices, according to Huttons Asia. One of them is Park View Mansions in Jurong, which relaunched its tender for a second time on Wednesday (Dec...
Park View Mansions will relaunch on Wednesday its collective sale tender with a 22 per cent lower reserve price than before, making it the latest case of owners dialling down their expectations amid a quieter en bloc market. More than 80 per cent of the owners at the 191,974 square feet (sq ft) development right by Jurong Lake Gardens have agreed to a reserve price of S$250 million, down from S$320...
A row of apartments with commercial shops along Phoenix Road in Bukit Panjang will be put up for collective sale via public tender on Thursday for S$42 million, marking the first time that the owners are embarking on an en bloc sale. This translates to a land rate of S$617 per square foot per plot ratio (psf ppr), and S$566 psf ppr after factoring in the 7 per cent bonus balcony gross floor area. No...
Owners of the Beauty World Plaza retail and residential building are putting up the redevelopment site for tender with a reserve price of S$165 million, agent Knight Frank Singapore announced on Wednesday. The 2,305.6 square metre site in the Upper Bukit Timah neighbourhood comprises a single block with 61 retail units and 30 residential units. Under the Urban Redevelopment Authority's (URA) 2014 Master...
The High Court has granted a sale order to Goodluck Garden's S$610 million collective sale on Monday following a lengthy dispute, but Justice Woo Bih Li also criticised marketing agent Knight Frank, the property's collective sale committee (CSC) and the CSC's lawyers Rajah & Tann for how they handled the sale. Owners of the 210-unit freehold residential development in Toh Tuck Road went to court after...
Freehold commercial property Golden Wall Centre has been sold en bloc for S$276.2 million to City View Holdings, a wholly owned subsidiary of Worldwide Hotels, which owns and manages hotel chains such as Hotel 81. The amount was higher than the reserve price of S$260 million, which was little changed from what the strata unit owners wanted in their first attempt at a collective sale in 2016. At...
Homeowners who opposed in a collective sale of private homes will still have to pay any seller's stamp duty that applies to them. "If the sale occurs within the holding period, the seller's stamp duty is applied, regardless of whether an individual owner consented to or opposed the sale," said National Development Minister Lawrence Wong in Parliament on Tuesday. The reason is that the collective...