The site, Vista Park at 50-66 South Buona Vista Road, has a potential gross floor area (GFA) of approximately 446,947 square feet. Based on the reserve price, the land price works out to be about $824psf ppr, inclusive of a lease top-up of approximately $45.3 million. The break even cost is expected to be $1,250 psf. Vista Park is approximately 319,248sqft in size and currently comprises 209 residential apartments and townhouses. Knight Frank, the sole marketing agent, will close the tender on 7 December.
The site, Vista Park at 50-66 South Buona Vista Road, has a potential gross floor area (GFA) of approximately 446,947 square feet. Based on the reserve price, the land price works out to be about $824psf ppr, inclusive of a lease top-up of approximately $45.3 million. The break even cost is expected to be $1,250 psf. Vista Park is approximately 319,248sqft in size and currently comprises 209 residential apartments and townhouses.
Knight Frank, the sole marketing agent, will close the tender on 7 December.
Vista Park, a 99-year leasehold residential development off Pasir Panjang Road, has been put up for collective sale with a guide price of $338 million. Vista Park has a site area of about 319,248sqft and a gross plot ratio of 1.4.
This translates to a land price of $862 psf ppr based on the potential gross floor area of almost 447,000sqft. Tucked away in a tranquil neighborhood next to Kent Ridge Park, the site is close to the Ayer Rajah Expressway (AYE) and within walking distance from Pasir Panjang MRT Station, which is expected to be ready by the fourth quarter of this year.
The tender is being managed by Knight Frank and will close at 3pm on June 30th. The wife and I understand that Vista Park was put up for collective sale at least once before, i.e. in 2007, with a guide price of around $680psf ppr. What a difference 4 years make!.
There's been interest, ironically not by Singaporeans but by expats, on which developments are going en-bloc, simply because (a) they do not want to be hoodwinked by dodgy landlords or agents into a place to stay only to have to move out again if the en-bloc goes through (b) they do not want to stay near an en-bloc property because of noise levels. I guess this would apply to locals as well.
So from the papers and from various sources, here's a list of. En-blocs that are confirmed - Sale has been secured, which means it can be anything from 6 mths to 1 year (but typically not exceeding 15 mths) before people get evicted. This is definitive and sourced from the papers. En-blocs that just tendered - Developments that have gained the 80% (or close to 80%) majority vote required, and have begun the tender or expression of interest (EOI) exercise. I've included dates so if you don't see this development in the 'confirmed' list in a mth's time, it means the tender was not successful (often not reported in papers).
Vista Park En Bloc Sale
EOI usually indicates that the development has not reached the required 80% mark. En-blocs that are ongoing - Developments that have either begun talks, or have begun the collection of signatures for the Collective Sale Agreement, which means they have 1 year to collect 80% or the whole thing collapses. This is sometimes reported in the papers and can also be sourced from various internet forums, blogs etc or from marketing agents' presentations. Take this list with a pinch of salt.
I'll indicate where they come from so you can gauge for yourselves. En-blocs that are confirmed unsuccessful - Reported as not achieving the reserve price. I will update the list as I get more updates. Prices indicated for the confirmed list are their sale price, and for the tendered list prices are their asking or reserve prices. For the ongoing list, prices are asking/RP or what numbers have been discussed at owners' meetings or in their CSAs. Hi anonymous you might want to check out the Expat Singapore Forum where quite a number of tenants are facing similar situations like yours. The short answer is 'no' - rental law is rigged in the landlord's favour and in all likelihood your tenancy agreement will have a clause that states that the landlord can cut your contract with 1 or 2 mths notice (which means he'll notify you in, say, Sep 07).
Some tenants were able to include into their agreement a 'moving out' clause which means if the apartment they're staying is successfully en bloc'd, and they have to leave before their contract expires, the landlord has to pay for moving costs. You'll need to check when is legal completion for your tower; if it's before Nov 07, you may be subject to unnecessary noises and pollution as developers move in to do pre-construction work. Try posting your query on the expat forum discussion on en blocs:). Well, as of a few days ago, Pender Court has finally been sold to the wonderful tune of $80M.
The rumor is that no one wanted to sell their units until a certain board member started bullying everyone to sell their units. I don't know if the other owners wanted to sell because they needed the money or just wanted this old man to shut up. It's a wonderful place.
Huge units- right close to town. And really- by the time they buy their next apartment- how much of that will be left? I just think this whol en bloc frenzy is all based on speculation- false hopes on how the economy will be once the new Sentosa opens or the Marina resort sprouts up. So now where will everybody go while they are all kicked out?
Didn't anyone really ever think of that? Your list of en bloc apartments is scary- displacing that amout of people- that's difficult. Now I have to look for a new place to rent. What's worse, I can still see people moving in Pender Court- and I know the rent is even more expensive. And it will kill the Singapore economy with all this speculation. After the bubble bursts and the people who sold their places to en bloc will realize their dollar isn't stretched the way they hoped to be, they will regret their decision.
Re Farrer Ct, Last I heard, they were applying for leasehold top up and have yet to apply to STB although that should be soon. Because they have not achieved 100% for the sale, it can take a few mths with STB (anything from 3-6 mths).
After that, it should be 3 mths (thereabouts) to legal completion and then 6 mths to vacant possession. In all, your aunt should be able to continue staying there for at least 6-9 mths until legal completion at the least. BUT all these are subject to your aunt's landlord not terminating the rent (which the landlord may do if they want to money by completion). When STB approves the case, that will be the clearest time for your aunt to contact the landlord for when they want her out. That would be when she starts to look for alternative accoms but bear in mind that a good majority of FC owners may be doing the same as well. It might make better sense for her to terminate the rent and leave now when there are still rentals available in the nearby area, at still-decent rates (imagine when the 600+ FC owners start to look for rentals or sales). Roberto cossa biografia.
Decision is ultimately up to your aunt and her arrangement with the landlord. Hello Everybody, My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today?
And i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him.
Contact Dr Purva Pius,via email:([email protected]) Thank you. BORROWERS APPLICATION DETAILS 1. Name Of Applicant in Full. Telephone Numbers. Address and Location. Amount in request.
En Bloc Singapore Collective
Repayment Period. Purpose Of Loan. Occupation 10.age/sex 11.Monthly Income. Managements Email Kindly Contact: [email protected].
Vista Park, a 99-year leasehold residential development off Pasir Panjang Road, has been put up for collective sale with a guide price of $338 million. Vista Park has a site area of about 319,248sqft and a gross plot ratio of 1.4. This translates to a land price of $862 psf ppr based on the potential gross floor area of almost 447,000sqft. Tucked away in a tranquil neighborhood next to Kent Ridge Park, the site is close to the Ayer Rajah Expressway (AYE) and within walking distance from Pasir Panjang MRT Station, which is expected to be ready by the fourth quarter of this year. The tender is being managed by Knight Frank and will close at 3pm on June 30th.
The wife and I understand that Vista Park was put up for collective sale at least once before, i.e. in 2007, with a guide price of around $680psf ppr. What a difference 4 years make!.
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