"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.


Update: High Court: Fri Jul 14 10am

I heard through the grapevine that Glenville may be heading for the High Court ......

Glenville in Serangoon sold for S$39.5m in collective sale

Glenville, a 32-unit apartment block in Serangoon, has been sold to Urban Lofts for S$39.51 million in a collective sale.
Marketing agent Jones Lang LaSalle said the price works out to be about S$740 per square foot per plot ratio including a Development Charge of S$5.3 million, if payable.
Each of the apartment owners stand to receive gross sale proceeds ranging from S$1.179 to S$1.273 million.
The sale is subject to approval by the Strata Titles Board.
The 43,335 sq ft site is zoned for residential use with a gross plot ratio of up to 1.4. It can be built up to 5 storeys, yielding a potential gross floor area of up to 60,670 sq ft.
Jones Lang LaSalle said the site could potentially yield some 57 apartment units with an average size of 1,000 sq ft each.
Glenville is located near Serangoon MRT Station and the upcoming NEX mega mall.
Ms Stella Hoh, national director and head of investments at Jones Lang LaSalle, said: “With the upcoming NEX mega mall, interest in the vicinity has been renewed. This is shown by continued interest with a second site sold in the vicinity within one month by Jones Lang LaSalle.”
The other collective sale site, Naung Court, in Hougang was sold for S$28 million in late September.
Source : Channel NewsAsia – 8 Oct 2010

1 comment:

  1. Anonymous07 June, 2011

    Saw this in the TODAY papers:

    - This should be sent directly to MND, Mr Khaw.