21 Aug '17, 2am

Park West owners make third collective sale attempt

Featuring a land area of 633,644 sq ft, Park West comprises 432 apartments and four shop units. Following two failed attempt at a collective sale in 2007 and 2011, condominium owners at Park West are hoping that their third try at an en bloc sale would be successful, reported Business Times. In fact, they witnessed a good start on Saturday when signatures from about 30 percent of owners by strata area and share value were collected during their first meeting to approve the en bloc sales agreement, with Huttons Asia as marketing agent. With an indicative price of S$750 million – down from the S$803 million reserve price during its 2011 attempt – Park West carries a land rate of around S$818 psf per plot ratio, inclusive of the differential premium of around S$339 million for site intensification and lease top-up. Featuring a land area of 633,644 sq ft, Park West comprises 4...

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

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