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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.

TOH TUCK APARTMENTS SOLD

TOH TUCK SITE SOLD FOR $34M

Property developer Roxy-Pacific said yesterday that its unit, Mequity, bought Toh Tuck Apartments in an en bloc deal for $33.9 million.
The freehold site, located at Toh Tuck Road, is the first collective sale in District 21 – which comprises Upper Bukit Timah and Clementi – this year.
The site has an area of 40,449 square feet, a plot ratio of 1.4 and can be built up to five storeys. A development charge of about $5 million is payable to redevelop the site up to a permissible 62,290 sq ft. This includes the 10 per cent allowance for balconies.
Together, the sale price and the development charge work out to $624 per sq ft per plot ratio.
Mr Jeffrey Goh, head of investment sales for the site’s marketing agent HSR, said about 75 apartments ranging from 590 sq ft to 1,660 sq ft could be built on the site.
“Toh Tuck Apartment is an attractive site, given its location in Bukit Timah area. It is within minutes of the Beauty World MRT station and close to good schools and amenities,” he said, adding a new apartment could fetch an average of $1,300 psf.
Source : Today – 31 Aug 2010

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