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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.

MARKET NEWS

Guillemard Court up for en-bloc sale 

Guillemard Court, located along Geylang, Lorong 28, is up for an en-bloc sale.
The freehold estate has a land area of 31,684 square feet.
It has a plot ratio of 2.8 and can be built up to eight storeys.
The existing development is a four-storey walk-up apartment with 32 units
The indicative price of the land is S$33 million, which works out to S$360 per square foot per plat ratio.
Deans Realtors, the marketing agent for Guillemard Court, said the first advertisement for a public tender will be out on Thursday.
Source : Channel NewsAsia – 22 Sep 2010

Naung Court, a 20-unit development at Jalan Naung in the Hougang area, has been sold to developer Orion-Two Residential for S$28 million.
The 32,689 sq ft site is zoned for ‘Residential’ use with a gross plot ratio of up to 1.4 and can be built up to five storeys.
This works out to about S$662 per square foot per plot ratio if a development charge is payable.
To date, only one unit out of the 20 units has yet to sign the Collective Sale Agreement.
The marketing agent, Jones Lang LaSalle, said the site will yield a potential gross floor area of up to 45,764 sq ft, subject to approval and payment of a development charge of about S$2.3 million.
It could potentially yield some 43 apartment units with an average size of 1,000 square feet each.
Head of Investments at Jones Lang LaSalle, Stella Hoh, said she is encouraged by the strong interest in the site despite the recent property-cooling measures announced by the government.
She said the site’s convenient location – near Hougang Central and Hougang MRT Station as well as the Kallang-Paya Lebar Expressway – appeals to developers and home buyers.
Source : Channel NewsAsia – 20 Sep 2010

Another apartment is angling for an en bloc sale.
Owners of Glenville off Upper Serangoon Road are asking between S$38 and S$40 million for the property.
That works out to about S$715 to S$745 per square foot per plot ratio for owners of the 32-unit, freehold residential development located at Lim Tua Tow Road
The site spans 43,335 square feet with a gross plot ratio of 1.4.
It can be built up to five storeys, yielding a potential gross floor area of more than 60,670 square feet.
It is subject to a development charge of about S$5.3 million.
Sole marketing agent Jones Lang LaSalle said the site can yield some 57 units with an average size of 1,000 square feet each.
It added that Glenville is in close proximity to Serangoon MRT Station, the upcoming NEX Mega Mall and Serangoon Stadium.
The tender for Glenville will close at 4pm on October 5.
Source : Channel NewsAsia – 8 Sep 2010

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