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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.

CARDIFF COURT



Cardiff Court, a huge D-19 site located near Lorong Chuan and Serangoon MRT station, will be launched for collective sale on Tuesday.
The property is expected to fetch around S$25 million.
This works out to owners getting between S$700,000 and S$1.45 million, depending on the size of their unit.
The 43,490.9 square feet site has 72 years of its lease left, and is zoned for Residential use.
The site has a gross plot ratio of 1.4 and an allowable height of up to 5 storeys.
Meanwhile, its potential gross floor area is 60,887.2 square feet.
This means that the new condominium development could have about 96 apartments with each unit measuring about 600 square feet.
The new condo project is expected to fetch about S$1,100 per square foot when it is launched.
The Tender will close on the 18th of November.
Source : Channel NewsAsia – 25 Oct 2010

So very few 99 year leashold properties have been sold en bloc; I believe only 7 to date:
  • Grangeford Apt (Aug 2007)
  • Farrer Court (Jun 2007)
  • Gillman Heights (Feb 2007)
  • Waterfront View (May 2006)
  • A 144 unit property in Newton (Mar 2006)
  • A 186 unit property in River Valley (Mar 2006)
  • Amberville (Jan 2006)
This makes Cardiff Court's en bloc attempt all the more interesting. The records show that CC was supposedly sold in 2007 for $13.5 million - but I don't know what happened after that, because here it is up for sale again. The records show unit sale activity from 2009 onwards.

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