{"id":67640,"date":"2017-09-28T10:36:49","date_gmt":"2017-09-28T03:36:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ridgewood-condo-mulls-en-bloc-sale\/"},"modified":"2017-09-28T11:05:26","modified_gmt":"2017-09-28T04:05:26","slug":"ridgewood-condo-mulls-en-bloc-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ridgewood-condo-mulls-en-bloc-sale\/","title":{"rendered":"Ridgewood condo mulls en bloc sale"},"content":{"rendered":"


\nThe 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.
\nConstructed in 1981, the 999-year leasehold property with an overall area of 672,000 sq ft is one of the oldest condominiums in Singapore.
\nIf sold en bloc, International Property Advisor CEO Ku Swee Yong estimates that some owners could receive about S$2 million each, while those who possess one of 34 two-storey townhouses there could get S$3 million to S$4 million.
\nA typical four-bedder there measures around 1,200 sq ft, with some units surpassing 1,500 sq ft, but the townhouses range between 1,800 sq ft and 2,000 sq ft.
\nVimal Harnal, Chairman of Ridgewood\u2019s management council, believes it is an opportune time to sell the condo en bloc as some other collective sales were recently successful.
\n\u201cSince Ridgewood had tried to go en bloc before, some of the residents think there might be another opportunity now.\u201d
\nPreviously, there were attempts to form a collective sale committee in 2007 and 2013, but it failed to secure at least 80 percent of the owners votes.
\n\u201cIt is hard to read the mood right now as some residents may say it is easier to move now, but others may be sentimental about living here,\u201d said S. Radakrishnan, one of the residents who purchased his four-room flat in 1999.
\nMoreover, Ku thinks that Ridgewood would be entering a market where there are already many collective sales and new launches. \u201cWe are already seeing some rental declines in HDB (estates) and condominiums,\u201d he noted.
\nEarlier this month (12 September), real estate consultancy JLL revealed that 17 housing sites have been launched for collective sale totaling over 3,140 units since 2016.
\nThat was before news broke out on 14 September that the 660-unit Pine Grove, a former HUDC estate near Ulu Pandan, is making a third try at a collective sale for a reserve price of S$1.65 billion.
\n\u00a0
\nKeshia Faculin edited this story.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Ridgewood condo mulls en bloc sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The owners of the 464-unit Ridgewood Condominium along Mount Sinai Drive in District 10 plans...<\/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-67640","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-hAY","jetpack-related-posts":[{"id":110315,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condominium-at-nassim-road-up-for-en-bloc-sale\/","url_meta":{"origin":67640,"position":0},"title":"Freehold condominium at Nassim Road up for en bloc sale","date":"August 29, 2019","format":false,"excerpt":"\r The four-storey condominium was completed in 2008, featuring two- and three-bedroom units as well as penthouses that range from 115 sq m to 343 sq m. The owners are asking for a reserve price of\u00a0$222.68 million or $3,508 per sq ft per plot ratio (psf ppr). Beaufort On Nassim,\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":67640,"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":51777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eunosville-put-up-for-en-bloc-sale\/","url_meta":{"origin":67640,"position":2},"title":"Eunosville put up for en bloc sale","date":"April 13, 2017","format":false,"excerpt":"\r The owners are expecting offers of up to $653 million, which would make the estate the biggest en bloc sale in recent years.\u00a0 Former Housing and Urban Development Company (HUDC) estate Eunosville has been put up for collective sale, with the owners expecting offers of between $643 million and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64772,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sun-rosier-condo-up-for-en-bloc-sale-for-s235mil\/","url_meta":{"origin":67640,"position":3},"title":"Sun Rosier condo up for en bloc sale for S$235mil","date":"August 28, 2017","format":false,"excerpt":"\r With a maximum gross floor area of 204,464 sq ft, the freehold site can yield 204 housing units with an average size of around 1,000 sq ft each. (Photo: Google Maps) The owners of the 78-unit Sun Rosier condominium in How Sun Drive have joined the collective sale bandwagon,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70402,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pearlbank-apartments-tries-to-en-bloc-again-at-728-million\/","url_meta":{"origin":67640,"position":4},"title":"Pearlbank Apartments tries to en bloc again at $728 million","date":"October 30, 2017","format":false,"excerpt":"\r The 37-storey horse-shoe shaped building comprises 280 apartments and eight commercial units. (Photo: Colliers International) Pearlbank Apartments in Outram is making its fourth collective sale attempt at a reserve price of $728 million, after more than 80 percent of the owners consented to the sale, marketing agent Colliers International\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61838,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lakepoint-condo-eyeing-en-bloc-sale-site-bigger-than-shunfu-ville\/","url_meta":{"origin":67640,"position":5},"title":"Lakepoint condo eyeing en bloc sale, site bigger than Shunfu Ville","date":"July 26, 2017","format":false,"excerpt":"\r View of the Lakepoint condominium at Lakepoint Drive. (Photo: Jianwei Huang) Owners of the ageing Lakepoint condominium near Lakeside MRT station are believed to be exploring opportunities to go en bloc in the next two years, or even earlier, according to some residents with knowledge of the matter. 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