{"id":64126,"date":"2017-08-21T09:35:03","date_gmt":"2017-08-21T02:35:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-owners-make-third-collective-sale-attempt\/"},"modified":"2017-08-21T09:47:33","modified_gmt":"2017-08-21T02:47:33","slug":"park-west-owners-make-third-collective-sale-attempt","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-owners-make-third-collective-sale-attempt\/","title":{"rendered":"Park West owners make third collective sale attempt"},"content":{"rendered":"


\nFeaturing a land area of 633,644 sq ft, Park West comprises 432 apartments and four shop units.\u00a0
\nFollowing two failed attempt at a collective sale in 2007 and 2011, condominium owners at Park West are hoping that their third try at an en bloc sale would be successful, reported Business Times.
\nIn fact, they witnessed a good start on Saturday when signatures from about 30 percent of owners by strata area and share value were collected during their first meeting to approve the en bloc sales agreement, with Huttons Asia as marketing agent.
\nWith an indicative price of S$750 million \u2013 down from the S$803 million reserve price during its 2011 attempt \u2013 Park West carries a land rate of around S$818 psf per plot ratio, inclusive of the differential premium of around S$339 million for site intensification and lease top-up.
\nFeaturing a land area of 633,644 sq ft, Park West comprises 432 apartments and four shop units. It has a gross plot ratio of 2.1 and 64 years left on its lease. Apartment owners are set to benefit around S$1.25 to S$2.1 million each from the sale, while shop unit owners stand to gain S$1.1 million to S$1.5 million.
\nSEE ALSO:\u00a0Why the hype around properties with en-bloc potential?
\nCollective sales committee chairman, Frankie Lim, is optimistic of their current attempt at an en bloc sale compared to that conducted in 2011, when the collective sales up cycle was coming to an end.
\n\u201cNow we can see that developers are hungry and looking for good sites. We also feel that Park West is one of the few sites available in the west zone and the government is going to launch the High Speed Rail terminal station in Jurong East,\u201d said Lim. \u201cThere are good malls and the Ng Teng Fong General Hospital in Jurong East. The western region is also where the tertiary education institutions are mainly located.\u201d
\nMeanwhile, JLL is set to launch the tender for former HUDC estate Florence Regency on 23 August with a guide price of S$600 million and freehold Amber Park condominium on 29 August with a guide price of S$768 million, revealed Tan Hong Boon, JLL\u2019s regional director for capital markets. The tender for Florence Regency and Amber Park condominium will close on 27 September and 3 October, respectively.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Park West owners make third collective sale attempt<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Featuring a land area of 633,644 sq ft, Park West comprises 432 apartments and four...<\/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-64126","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-gGi","jetpack-related-posts":[{"id":105399,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mandarin-gardens-en-bloc-attempt-fails-to-take-off\/","url_meta":{"origin":64126,"position":0},"title":"Mandarin Gardens en bloc attempt fails to take off","date":"March 26, 2019","format":false,"excerpt":"\r The asking price for the development was raised after the owners discovered that the land parcel was undervalued. The en bloc sale attempt of Mandarin Gardens failed to take off even as the asking price was raised to a record high of $2.927 billion, reported the New Paper. This\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103971,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/margate-point-makes-another-collective-sale-attempt\/","url_meta":{"origin":64126,"position":1},"title":"Margate Point makes another collective sale attempt","date":"February 14, 2019","format":false,"excerpt":"\r Majority of the owners agreed to lower the reserve price of the Katong property from $38 million to $36.5 million. (Photo: JLL) The owners of Margate Point, a 15-unit residential development along Margate Road in Katong, are making a second attempt at an en bloc sale, with 70 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98050,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-condos-in-district-9-up-for-en-bloc-sale-again\/","url_meta":{"origin":64126,"position":2},"title":"Two freehold condos in District 9 up for en bloc sale again","date":"September 18, 2018","format":false,"excerpt":"\r Located near Orchard Road, Grange Heights is making a second attempt at a collective sale. (Photo: Colliers International) Undeterred by the government\u2019s property cooling measures, two freehold condos in District 9 near the Orchard Road shopping district are making another try at an en bloc sale. Grange Heights along\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121287,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/owners-of-international-plaza-gives-green-light-for-en-bloc-attempt\/","url_meta":{"origin":64126,"position":3},"title":"Owners of International Plaza gives green light for en bloc attempt","date":"August 6, 2021","format":false,"excerpt":"\r Owners of International Plaza gives green light for en bloc attemptThis could potentially make\u00a0it the largest collective sale in the nation\u2019s history both in terms of units and value. Photo: Edmund Tie International Plaza, a 50-storey development within the Central Business District (CBD), will soon be put up for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/International-Plaza-photo-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":82190,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/4-post-independence-landmarks-attempt-en-bloc-sale\/","url_meta":{"origin":64126,"position":4},"title":"4 post-independence landmarks attempt en bloc sale","date":"March 8, 2018","format":false,"excerpt":"\r View of People\u2019s Park Complex in Chinatown. (Photo: Nicolas Lannuzel, Wikimedia Commons) Four post-independence landmarks in Singapore \u2013 People\u2019s Park Complex and People\u2019s Park Centre in Chinatown, as well as Golden Mile Complex and Golden Mile Tower at Beach Road \u2013 may soon disappear from the city\u2019s landscape, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":69988,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-fever-spreads-to-commercial-properties\/","url_meta":{"origin":64126,"position":5},"title":"En bloc fever spreads to commercial properties","date":"October 25, 2017","format":false,"excerpt":"\r View of Singapore skyline. (Photo: Wikimedia Commons) More commercial and mixed-use projects are joining the en bloc sales frenzy after a number of residential developments have successfully changed hands, reported the Business Times. For instance, three integrated developments have been launched for collective sale. Owners of the freehold Tai\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\/64126"}],"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=64126"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/64126\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=64126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=64126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=64126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}