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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.

LAGUNA PARK

Laguna Park has advantage over Pine Grove - say analysts

An unobstructed sea view is unbeatable, if you ask me.

Laguna Park residents to pocket S$2.2m each from sale

Laguna Park residents will be pocketing about S$2.2 million each from the successful sale of the property, which will be put up for tender on May 24.
With a plot ratio of 2.8, Laguna Park’s price works out to S$975 per square foot per plot ratio.
The 528 unit, 677,493 square feet property is attempting a second collective sale attempt with Knight Frank as its sole marketing agent.
Knight Frank said the 33-year-old Laguna Park possesses many quality traits – it is the only available landsite along Marine Parade with a seafront view and it sits on a rectangular-shaped plot.
But the winning buyer would be tasked with (building a) potential 1,580 units for the redeveloped site, said Tan Tiong Cheng, chairman of the Knight Frank marketing team handling Laguna Park’s sale.
He maintains that with a rectangle-shaped plot, a consortium of developers could split the land up and sell the units in phases.
The firm is currently marketing the project to large property developers as well as a number of foreign ones.
Knight Frank has also highlighted Pine Grove as one of the key competitors to Laguna Park.
On top of Pine Grove, the marketing agent pointed out the large supply of government land and other key en-bloc projects as competition.
The overall sentiment among residents of Laguna Park is one of confidence.
“Residents are more positive about the sale this time around, because property market is more robust and developers are building up their land bank now. The previous time it was put on sale was about 2009, when the property market sunk due to the Lehman Brothers crisis,” said a resident who declined to be named.
Source : Channel NewsAsia – 18 May 2011

2 comments:

  1. Anonymous28 May, 2011

    Loyang Valley Condo located at Loyang Avenue with 384 Units with a land area of approx 800,000 sq ft and plot ratio of 1.6 is a huge potential site for enbloc sales. The site was proposed 2 years back and was put on hold. Potential developer should consider for their land bank.

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  2. I believe Loyang Valley has a problem with access.
    If my information is correct, I believe any new development on the site cannot have a a direct access onto Loyang Road , as is the case now. I believe they would have to purchase another strip of land to have an entrance on the other side .. or something like that.

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