22 Sep '17, 4am

Spring Grove looking to en bloc again

View of the Spring Grove condo near Orchard Road. (Photo: Knight Frank) After a failed attempt at an en bloc sale in 2014, the owners of Spring Grove condominium in Grange Road are once again looking for law firms and a marketing agent that could help them sell the 325-unit estate for at least $1 billion, reported the Straits Times . Based on a maximum gross floor area of 553,377 sq ft, a $1 billion price tag works out to around $1,807 psf, up from the $1,285 psf to $1,438 psf price that units within the development fetched so far this year. SEE ALSO: New development charges to affect en bloc deals The owners attribute their bullish outlook to the estate’s prime location as well as the red-hot collective sale market. Located near the residential areas of Bishopgate and Chatsworth Road, Spring Grove is also near the Central Business District and Orchard Road. “We don’t have...

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

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