{"id":66468,"date":"2017-09-15T11:03:36","date_gmt":"2017-09-15T04:03:36","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/pine-grove-to-go-en-bloc-again\/"},"modified":"2017-09-15T11:09:12","modified_gmt":"2017-09-15T04:09:12","slug":"pine-grove-to-go-en-bloc-again","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pine-grove-to-go-en-bloc-again\/","title":{"rendered":"Pine Grove to go en bloc again"},"content":{"rendered":"


\nView of the 660-unit Pine Grove, a former HUDC estate near Ulu Pandan. (Photo: Google Maps)
\nAfter two failed attempts in 2008 and 2011, owners at Pine Grove near Ulu Pandan are trying their luck again at a collective sale, this time at a price of $1.65 billion, reported the Straits Times.
\nThis would be the highest collective sale price since 2007, when the 619-unit Farrer Court was sold for $1.34 billion. If successful, each owner stands to gain between $2.08 million and $2.64 million.
\nSEE ALSO: New development charges to affect en bloc deals
\nAppointing Huttons Asia as its marketing agent, the collective sale committee is set to determine the method of apportionment and secure the requisite 80 percent approval at an extraordinary general meeting to be held on 29 October.
\n\u201cWe can expect good response from developers because of our prime location,\u201d said collective sale committee chairman Kogi Murthi.
\n\u201cIt is among the few plots left available for residential development in the choice Holland Road district.\u201d
\nThe 660-unit former Housing and Urban Development Company (HUDC) estate failed to attract any bids in 2011, after the owners raised the reserve price from $1.33 billion to $1.7 billion to secure the 80 percent consent.
\nWith 66 years left on its 99-year lease, the project has a site area of 893,227 sq ft. Zoned residential under the 2014 Master Plan, the site has a plot ratio of 2.1. Its existing plot ratio, however, now stands at 1.56, which means that the project could yield up to 2,000 units, said analysts.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Pine Grove to go en bloc again<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of the 660-unit Pine Grove, a former HUDC estate near Ulu Pandan. (Photo: Google...<\/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-66468","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-hi4","jetpack-related-posts":[{"id":104413,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pine-grove-tender-a-litmus-test-for-en-bloc-appetite\/","url_meta":{"origin":66468,"position":0},"title":"Pine Grove tender a litmus test for en bloc appetite","date":"February 26, 2019","format":false,"excerpt":"\r 2018 was a successful year for en bloc sale transactions until the government rolled out new property curbs in July. Pine Grove, a former HUDC project at Ulu Pandan Road, is up for collective sale carrying an asking price of $1.86 billion, reported the Business Times. Despite the cautious\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93455,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fate-of-en-bloc-bids-now-uncertain-with-new-housing-curbs\/","url_meta":{"origin":66468,"position":1},"title":"Fate of en bloc bids now uncertain with new housing curbs","date":"July 9, 2018","format":false,"excerpt":"\r The government\u2019s surprise release of new property cooling measures has left many homeowners jittery, especially those planning to go en bloc. This comes as the fate of their collective sale bids has now become uncertain, given that developers are expected to take a cautious stance in bidding for new\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67640,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ridgewood-condo-mulls-en-bloc-sale\/","url_meta":{"origin":66468,"position":2},"title":"Ridgewood condo mulls en bloc sale","date":"September 28, 2017","format":false,"excerpt":"\r The owners of the 464-unit Ridgewood Condominium along Mount Sinai Drive in District 10 plans to hold an extraordinary general meeting on 14 October to vote on whether to create a collective sale committee, reported the New Paper. Constructed in 1981, the 999-year leasehold property with an overall area\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102319,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-30-en-bloc-sites-fail-to-secure-buyers\/","url_meta":{"origin":66468,"position":3},"title":"Over 30 en bloc sites fail to secure buyers","date":"December 17, 2018","format":false,"excerpt":"\r The owners of Windy Heights in Kembangan are undergoing a re-signing process to cut the reserve price to $750 million. Singapore\u2019s en bloc residential market has slowed down, with over 30 sites failing to secure buyers after the government introduced fresh property curbs in July, reported Channel NewsAsia. \u201cAfter\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97610,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pandan-valley-seeks-record-2-6b-en-bloc-asking-price\/","url_meta":{"origin":66468,"position":4},"title":"Pandan Valley seeks record $2.6b en bloc asking price","date":"September 11, 2018","format":false,"excerpt":"\r Each owner could receive nearly $4.2 million on average if the sale goes through. The Pandan Valley condominium has established a new record for Singapore\u2019s highest asking price in a collective sale, after its residents voted to set the reserve price at $2.6 billion during a meeting on Saturday\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":66468,"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\/66468"}],"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=66468"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/66468\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=66468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=66468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=66468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}