{"id":56934,"date":"2017-06-05T10:54:04","date_gmt":"2017-06-05T03:54:04","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-estates-gunning-for-en-bloc-sales\/"},"modified":"2017-06-05T11:02:17","modified_gmt":"2017-06-05T04:02:17","slug":"two-estates-gunning-for-en-bloc-sales","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-estates-gunning-for-en-bloc-sales\/","title":{"rendered":"Two estates gunning for en bloc sales"},"content":{"rendered":"


\nThe Interlace (pictured) began as Gillman Heights \u2013 one of the first HUDC to be privatised in 1996 and then later sold via an en bloc sale \u2013 an aim both Tampines Court and Florence Regency are now hoping to achieve.
\nFollowing the recent collective sales of Rio Casa and Eunosville, two more privatised HUDC estates \u2013 Tampines Court and Florence Regency \u2013 are eyeing the en bloc sales path, reported The Straits Times.
\nThe 560-unit Tampines Court is expected to launch its tender next month as almost 82 percent of owners have already agreed to the sale, showed a Facebook page.
\nThe owners are looking to sell the 702,000 sq ft site for at least S$960 million.
\nNotably, the consent of at least 80 percent of the owners must be secured before a property can be offered for en bloc sale.
\nBuilt in the 1980s, Tampines Court, which features 14 blocks with 128 apartments and 432 maisonettes, was privatised in 2002.
\nThis is the estate\u2019s third try for a collective sale, with its first attempt in 2008 dismissed by the Strata Titles Board, while its second try in 2011 failed to obtain the requisite approval from owners.
\nMeanwhile, Florence Regency in Hougang Avenue 2 is expected to start its en bloc sale process soon.
\n\u201cAn extraordinary general meeting to start the signing process would likely be in July,\u201d revealed Tan Hong Boon, regional director of capital markets at JLL, which is the property\u2019s marketing agent.
\nNestled on around 389,000 sq ft site, Florence Regency has 71 years left on its lease.
\n\u201cWe expect more HUDC estates to start the en-bloc process, due to recent successful sales,\u201d said Wong Xian Yang head of research and consultancy at OrangeTee.
\nRio Casa was sold for S$575 million, while Eunosville in Sims Avenue was clinched for S$765 million \u2013 or above the asking prices of the owners of both estates.
\nThe bumper deals may see homeowners raising their asking prices for future collective sale tenders, said analysts.
\nHowever, too high prices \u201cmay dissuade many developers from participating\u201d, noted Wong.
\n\u201cLand prices are expected to rise, but I do not think we will see an accelerated rise in en-bloc values.\u201d
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Two estates gunning for en bloc sales<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Interlace (pictured) began as Gillman Heights \u2013 one of the first HUDC to be...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-56934","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-eOi","jetpack-related-posts":[{"id":68248,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/7-ex-hudc-estates-have-begun-en-bloc-process\/","url_meta":{"origin":56934,"position":0},"title":"7 ex-HUDC estates have begun en bloc process","date":"October 5, 2017","format":false,"excerpt":"\r An aerial view of Rio Casa, a 286-unit development at Hougang Avenue 7. Four former Housing and Urban Development Company (HUDC) estates have changed hands so far this year via en bloc sale \u2014 the highest in any year, reported Channel NewsAsia. These are Rio Casa, Eunosville, Serangoon Ville\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59606,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tampines-court-to-go-en-bloc-again\/","url_meta":{"origin":56934,"position":1},"title":"Tampines Court to go en bloc again","date":"July 3, 2017","format":false,"excerpt":"\r \u00a0 For the third time, Tampines Court will once again hit the collective sales market on Tuesday carrying an indicative price of S$960 million, after 82 percent of its owners consented to the sale. The former Housing and Urban Development Company (HUDC) estate\u2019s first attempt at an en bloc\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68840,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-view-forms-en-bloc-sales-committee\/","url_meta":{"origin":56934,"position":2},"title":"Braddell View forms en bloc sales committee","date":"October 12, 2017","format":false,"excerpt":"\r Braddell View is a 99-year leasehold development apartment completed in 1981 and has a total of 438 units. Most residents of Braddell View voted to form a collective sales committee on Tuesday (10 October), with 493 people in favour, while 28 opposed it, reported the Straits Times. \u201cI think\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63808,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tampines-court-set-to-be-biggest-collective-sale-in-a-decade\/","url_meta":{"origin":56934,"position":3},"title":"Tampines Court set to be biggest collective sale in a decade","date":"August 16, 2017","format":false,"excerpt":"\r Built in 1985, Tampines Court sits on a huge 702,164 sq ft site.\u00a0 Following two failed attempts at a collective sale in 2008 and 2011, Tampines Court is poised to become the biggest en bloc sale of a former Housing and Urban Development Company (HUDC) estate in a decade,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69116,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-blocs-can-be-stressful-for-residents\/","url_meta":{"origin":56934,"position":4},"title":"En blocs can be stressful for residents","date":"October 16, 2017","format":false,"excerpt":"\r A view of Tampines Court, a 99-years leasehold development completed in 1984 and is close to Changi General Hospital and Tampines Park. While this year\u2019s collective sale fever has yielded $5.2 billion worth of deals, experts warn that en bloc sales could also prove to be a stressful experience\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66798,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-view-owners-eyeing-2-billion-en-bloc-sale\/","url_meta":{"origin":56934,"position":5},"title":"Braddell View owners eyeing $2 billion en bloc sale","date":"September 19, 2017","format":false,"excerpt":"\r The 918-unit project is the last HUDC estate to be privatised. (Photo: HDB) The residents of the biggest HUDC estate here plan to hold an extraordinary general meeting on 10 October to form a collective sale committee in a bid to sell the entire property for a minimum price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/56934"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=56934"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/56934\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=56934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=56934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=56934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}