{"id":68632,"date":"2017-10-10T11:37:21","date_gmt":"2017-10-10T04:37:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/owners-of-ivory-heights-seeking-1-34bil-in-collective-sale\/"},"modified":"2017-10-10T12:06:00","modified_gmt":"2017-10-10T05:06:00","slug":"owners-of-ivory-heights-seeking-1-34bil-in-collective-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/owners-of-ivory-heights-seeking-1-34bil-in-collective-sale\/","title":{"rendered":"Owners of Ivory Heights seeking $1.34bil in collective sale"},"content":{"rendered":"


\nA view of IVORY Heights, a privatised HUDC estate at Jurong East.
\nFormer HUDC estate Ivory Heights may soon join the en bloc sale bandwagon after over eight in 10 owners voted to sell the development at the second extraordinary general meeting held on 1 October, reported Today Online.
\nSLP International Property Consultants, the property\u2019s marketing agent, revealed that the owners are seeking a $1.34 billion reserve price for the 825,502 sq ft site \u2013 making it one of the developments gunning for a reserve price of more than $1 billion in recent months.
\nOwners of Braddell View reportedly eye a collective sale price of more than $2 billion.
\nCollective sale committee vice-chairman Richard Hui is optimistic that they could secure the required 80 percent consent of subsidiary proprietors \u201cfairly quickly\u201d.
\n\u201cThe older residents may not be as willing to uproot and move out but if there is a good payout that will allow them to retain cash for retirement as well as downsize to a more manageable home, I don\u2019t see why they will resist,\u201d noted International Property Advisor chief executive Ku Swee Yong.
\nMeanwhile, the steep asking price came as no surprise to analysts, given the estate\u2019s large land area and prime location near the Jurong East MRT station as well as the future Kuala Lumpur-Singapore High Speed Rail terminus.
\nWith a gross plot ratio of 1.6 under the 2014 Master Plan, the 99-year leasehold project comprises 654 residential units ranging between 1,668 sq ft and 1,948 sq ft.
\nIvory Heights is also expected to attract keen interest from developers, who recently proved to be hungry for large sites.
\n\u201cDevelopers are keen because securing a large site would mean that they would be able to maximise the land by building more units, and hopefully profit from it,\u201d explained Chris Koh of Chris International.
\nMoreover, there may be \u201cpent up demand for new launches\u201d within the area considering the growth prospects of the Jurong Lake District, said OrangeTee assistant director research & consultancy Wong Xian Yang.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Owners of Ivory Heights seeking .34bil in collective sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A view of IVORY Heights, a privatised HUDC estate at Jurong East. Former HUDC estate...<\/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-68632","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-hQY","jetpack-related-posts":[{"id":66798,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-view-owners-eyeing-2-billion-en-bloc-sale\/","url_meta":{"origin":68632,"position":0},"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":[]},{"id":68248,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/7-ex-hudc-estates-have-begun-en-bloc-process\/","url_meta":{"origin":68632,"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":66468,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pine-grove-to-go-en-bloc-again\/","url_meta":{"origin":68632,"position":2},"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":[]},{"id":68840,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/braddell-view-forms-en-bloc-sales-committee\/","url_meta":{"origin":68632,"position":3},"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":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":68632,"position":4},"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":98054,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/laguna-park-makes-third-try-at-collective-sale-with-1-48b-reserve-price\/","url_meta":{"origin":68632,"position":5},"title":"Laguna Park makes third try at collective sale with $1.48b reserve price","date":"September 18, 2018","format":false,"excerpt":"\r The 99-year leasehold condo at Marine Parade Road is near the upcoming Siglap MRT station. (Photo: Knight Frank) After two en bloc sale attempts in 2007 and 2010, owners of former HUDC estate Laguna Park are making another bid at a collective sale, reported Channel NewsAsia. Carrying a reserve\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\/68632"}],"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=68632"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/68632\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=68632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=68632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=68632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}