"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.


A condominium near Novena MRT is teaming up with an adjoining site for an en bloc sale.
The 50-unit development Pastoral View is being offered for joint sale with an adjoining land parcel at Bassein Road.
Property consultant Credo Real Estate says the sellers are looking at a price of between S$130 million and S$150 million.
Credo adds that by combining the two sites, developers will find the enlarged land parcel more attractive as they are able to enjoy economies of scale.
The combined site has a land area of 51,395 square feet.
It has a gross plot ratio of 2.8 and an allowable height of up to 36 storeys, making up a total gross floor area of about 144,000 square feet.
Credo says upon redevelopment, the site may accommodate a high-rise tower of 140 apartments with an average size of 1,000 square feet.
It adds that the asking price translates to a land rate of
S$904-S$1,043 per square foot per plot ratio, after factoring in a development charge of about S$157,000.
More than 80 percent of the owners at Pastoral View have already signed a collective sale agreement to sell their properties together.
The tender for the site closes on 23 August at 2.30pm.

Source : Channel NewsAsia – 26 Jul 2010

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