Chuan Park in private negotiation process
This comes as the apartment received some rate of interest from developers following the close of its tender, claimed a speaker from ERA, that did not verify whether the development received any kind of proposal.
Positioned close to Lorong Chuan MRT station, the 99-year leasehold development comprises 444 apartment systems, a grocery store, and also a food and beverage space that is presently unoccupied. It was set up for tender from 5 October to 18 November, lugging a sign price of $938 million.
It was created by the Far East Company system, Golden Designer, in 1980 and also has a remaining lease of about 58 years.
Age noted that the home may be redeveloped into 900 to 919 devices.
Chuan Park condominium and 1953 condo had attempted for a cumulative sale in 2018, with the asking cost pegged at $900 million. However, it did not push due to failure to secure the required 80% approval of owners even as the asking was elevated from $790 million.
For this year’s tender, over 80% of the owners accepted the tender.
BT kept in mind that the en bloc sale market is still going strong, with La Ville selling for $152 million– which was above the book cost– during its third attempt to Hong Kong-listed ZACD Team.
Found at Tanjong Rhu, the high-rise growth was released to buy in October for $148 million. It lastly opted for greater after a robust competition among prospective buyers.
On The Other Hand, Gloria Estate, a freehold hilltop condo at Pasir Panjang Road, is once again up for collective sale, with a reduced book rate at $69 million, according to unique advertising agent Strata AMC.
In June 2018, the 12-storey condo was put up for collective sale, with an asking price of $79 million. That was around two weeks before the federal government presented a variety of residential or commercial property cooling steps to douse the en bloc fever at the time.
Including 31 house devices, the growth was completed in 1995 as well as inhabits a 45,742 sq ft site that is zoned for domestic usage under the 2019 Master Plan. The website has a present story proportion of 1.4.
Strata AMC said the condo takes pleasure in a “scenic view” forgetting the Greater Southern Waterside.
“Given its distance to the future Greater Southern Waterfront, Gloria Estate presents an outstanding redevelopment opportunity for developers seeking to create a famous domestic growth,” said Strata AMC as priced quote by BT.
The advertising and marketing agent anticipates the website to draw in small- to mid-sized programmers, considering its calculated place in addition to its “attractive get cost” without any development fee called for.