28 Sep '17, 3am

Ridgewood condo mulls en bloc sale

The 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. Constructed in 1981, the 999-year leasehold property with an overall area of 672,000 sq ft is one of the oldest condominiums in Singapore. If 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. A 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. Vimal Harnal, Chairman of Ridgewood’s management council, believes it is an opportune time to sell the condo en bloc as some o...

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

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