16 Aug '17, 4am

Tampines Court set to be biggest collective sale in a decade

Built in 1985, Tampines Court sits on a huge 702,164 sq ft site. Following two failed attempts at a collective sale in 2008 and 2011, Tampines Court is poised to become the biggest en bloc sale of a former Housing and Urban Development Company (HUDC) estate in a decade, reported TODAYonline . This comes after the 560-unit development received a bid of $970 million, up from the $960 million asking price, during the close of its collective sale tender exercise yesterday (15 August). In 2007, Farrer Court was sold en bloc for $1.34 billion. SEE ALSO: Why the hype around properties with en-bloc potential? “The tender concluded with a satisfactory result above the reserve price, considering the sprawling land size Tampines Court sits on,” said Terence Lian, investment sales head at Huttons, the marketing agent for the collective sale. If successful, each homeowner would stand t...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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