"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.


Strata Titles Board approves collective sale of Dragon Mansion

The Strata Titles Board (STB) has approved the collective sale of Dragon Mansion to RL Developments, a wholly-owned unit of Roxy-Pacific Holdings.
This makes Dragon Mansion the first collective sale site to have successfully obtained STB’s Sale Order under the stricter legislation governing collective sale that came into force in October 2007.
At a sale price of S$100.8 million, Dragon Mansion is also the only collective sale site which has achieved a sale price of above S$100 million since the onslaught of the global economic crisis.
Dragon Mansion, in the Spottiswoode Park area, comprises 72 units of 3-bedroom apartments.
Owners of each 1,399 square foot unit will receive S$1.4 million in sale proceeds.
The freehold site has a land area of nearly 42,000 square feet and is designated for residential use with a plot ratio of 2.8.
The new development could potentially yield a maximum gross floor area of approximately 117,000 square feet, which translates to an estimated 120 units of 1,000 square foot apartments.

Source : Channel NewsAsia – 10 May 2010

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