{"id":66798,"date":"2017-09-19T11:17:56","date_gmt":"2017-09-19T04:17:56","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-view-owners-eyeing-2-billion-en-bloc-sale\/"},"modified":"2017-09-19T11:22:10","modified_gmt":"2017-09-19T04:22:10","slug":"braddell-view-owners-eyeing-2-billion-en-bloc-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-view-owners-eyeing-2-billion-en-bloc-sale\/","title":{"rendered":"Braddell View owners eyeing $2 billion en bloc sale"},"content":{"rendered":"


\nThe 918-unit project is the last HUDC estate to be privatised. (Photo: HDB)
\nThe 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 of $2 billion, reported the Straits Times.
\nThe 918-unit Braddell View has 63 years left on its 99-year lease, and it was the last to be privatised among Singapore\u2019s 18 HUDC estates in March 2017.
\nIf the development successfully finds a buyer, if would not only surpass the record $1.34 billion en bloc sale of the 618-unit Farrer Court in 2007, but also exceed Pine Grove\u2019s $1.65 billion collective sale attempt.
\nSEE ALSO: Pine Grove to go en bloc again
\nLast week, the owners of the 660-unit Pine Grove appointed Huttons Real Estate Group to market the property and is now engaging attorneys to write the collective sale agreement after failing in their previous attempts in 2008 and 2011.
\nHowever, Edmund Tie and Company\u2019s research head Dr Lee Nai Jia thinks that the owners of Braddell View could encounter difficulties in selling the site due to its large area of 1.12 million sq ft and competition from other sites.
\n\u201cBraddell View is attractive given its central location and proximity to a number of MRT stations. But there are so many en bloc sites available. There\u2019s Pine Grove and Normanton Park. It could depend on which one is faster in launching the sites for sale.
\n\u201cThe market can only absorb one or two big sites. Because the site is so big, developers will need to factor in expected costs if they cannot finish selling the completed units.\u201d
\nThis is because developers are required to dispose all units in a project within five years of purchasing the land. Otherwise, they need to pay Additional Buyer\u2019s Stamp Duty (ABSD) and this could limit the price they are willing to pay for the site.
\nIn fact, projects built on large sites sold during the 2007 en bloc boom like d\u2019Leedon and The Interlace still have unsold units, noted ZACD Group\u2019s executive director Nicholas Mak, adding that these two developments were constructed on the former site of Farrer Court and Gillman Heights respectively.
\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…Braddell View owners eyeing billion en bloc sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 918-unit project is the last HUDC estate to be privatised. (Photo: HDB) The residents...<\/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-66798","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-hno","jetpack-related-posts":[{"id":68840,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-view-forms-en-bloc-sales-committee\/","url_meta":{"origin":66798,"position":0},"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":68248,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/7-ex-hudc-estates-have-begun-en-bloc-process\/","url_meta":{"origin":66798,"position":1},"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":103779,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/majority-of-braddell-view-owners-approve-2-08-billion-price-for-en-bloc-sale\/","url_meta":{"origin":66798,"position":2},"title":"Majority of Braddell View owners approve $2.08 billion price for en bloc sale","date":"February 8, 2019","format":false,"excerpt":"\r If the sale goes through, it would become Singapore\u2019s most expensive en bloc deal, exceeding the $1.34 billion sale of Farrer Court in 2007. (Photo: HDB) The 918-unit Braddell View residential project in District 20 is poised to be launched for collective sale after it secured the approval of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":48806,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-view-privatisation-closes-hudc-chapter\/","url_meta":{"origin":66798,"position":3},"title":"Braddell View privatisation closes HUDC chapter","date":"March 20, 2017","format":false,"excerpt":"\r Braddell View is the last HUDC estate to be privatised,\u00a0marking the closure of the privatisation programme for HUDC estates. Image source: HDB Braddell View, the last Housing Urban Development Company (HUDC) estate, was converted into a strata-titled estate under the Land Titles (Strata) Act last Friday (17 March), said\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105457,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-views-success-may-rest-on-sites-creative-use\/","url_meta":{"origin":66798,"position":4},"title":"Braddell View's success may rest on site\u2019s creative use","date":"March 27, 2019","format":false,"excerpt":"\r The former HUDC estate which sits on a huge site was put up for en bloc sale recently with a reserve price of $2.08 billion. (Photo: Colliers International) The en bloc success of the 918-unit Braddell View development may hinge on the creative use of the huge site, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66468,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pine-grove-to-go-en-bloc-again\/","url_meta":{"origin":66798,"position":5},"title":"Pine Grove to go en bloc again","date":"September 15, 2017","format":false,"excerpt":"\r View of the 660-unit Pine Grove, a former HUDC estate near Ulu Pandan. (Photo: Google Maps) After 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\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\/66798"}],"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=66798"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/66798\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=66798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=66798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=66798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}