"I am a BLOGGER NOT an expert. This is a BLOG not a 'go-to' website for official information. I represent no one's view save my own. I have neither legal nor financial training, nor do I have anything to do with the real estate industry. My understanding of the Collective Sale Process is from a layman's position only. My calculations, computations and tables are homespun and may contain errors. Please note that nothing in this blog constitutes any legal or financial advice to anyone reading it. You should refer to your lawyer, CSC or financial adviser for expert advice before making any decision. This disclaimer is applicable to every post and comment on the blog. Read at your own risk."
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There is one thing worse than an Enbloc ----- and that is an Enbloc done badly. Since the majority have the necessary mandate to sell, then they owe it to all SPs to make a success of it. Minority SPs can only watch and wait, if they sell then lets pray it's at a price we can move on with, if they don't sell, then we are happy to stay for a few more years.

Haig Mansions goes on sale

Haig Mansions, a 16-unit apartment block on Haig Road, has been put up for sale with an asking price of S$21 million, or about S$746 psf ppr.

The freehold development site has a land area of 20,226 sq ft, with a gross plot ratio of 1.4 and an allowable height of up to five storeys.

Based on the total gross floor area (GFA) of 28,317 sq ft, the property can yield up to 45 apartment units with an average size of 600 sq ft. The breakeven price is expected to be around S$1,150 psf.
Credo Real Estate, which is marketing the property, said that more than 80 percent of the owners have agreed to the collective sale of the property.

Zoned for residential development, the site is located near Paya Lebar Central, which is expected to be developed into a commercial hub with offices, retail, hotel and public spaces.

Credo said the tender for the site will close on 11 May.
Source : PropertyGuru – 5 Apr 2011

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