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"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.

Pine Grove

Another ex-HUDC trying their luck yet again.
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Straits Times - 25 Nov 2009
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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 per unit.
The former HUDC estate has a land area of more than 893,000 square feet.
Farrer Court, another former HUDC estate along Farrer Road, was sold for a record S$1.34 billion in 2007.
Pine Grove’s reserve price is higher than the S$1.2 billion price tag that the Laguna Park estate in Marine Parade had expected in its first tender in September.
Even after the price was reduced later to S$967 million, the Laguna Park collective sale was called off last week.
At Pine Grove, there have already been three sessions to collect signatures for the possible enbloc sale since 15 November.
A fourth session is coming up next Thursday.
At the upcoming session, representatives from property consultancy Jones Lang Lasalle and law firm Lee & Lee will be present to answer homeowners’ questions.
ChannelNewsAsia - 24 Nov 2009

FYI

Pine Grove is a 99-years leasehold development located at Pine Grove in District 21. Completed in 1984, this privatised HUDC development comprises 660 units.

Facilities at Pine Grove include swimming pool, BBQ pits, gym, tennis courts, clubhouse, convenience store, and playground. 24 hr security
Development Name:Pine Grove
Property Type:Condominium
Developer:HUDC Housing
Tenure:99-year Leasehold
Construction Year:1984
# of Floors:16
# of Units:660
Available Unit Types:
  • 2-Bedrooms (1,297 - 1,389 sqft)
  • 3-Bedrooms (1,829 - 1,922 sqft)
  • Maisonette (1,853 - 1,946 sqft)

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