17 Nov '17, 3am

Vista Park up for collective sale for $350mil

Joining in the collective sale frenzy, Vista Park condominium has also launched a tender for en bloc sale, with the owners expecting offers of at least S$350 million, reported Business Times . At this price, each unit owner could gain between S$1.16 million and S$3.5 million, which is a premium of more than 60 percent to what they could fetch if they sell individually in the open market. Including the estimated lease top-up premium of around S$66 million, the land rate stands at around S$932 psf per plot ratio. This, however, can be pared down to around S$903 psf ppr once the bonus balcony gross floor area (GFA) is factored in. This compares favourably to Normanton Park’s transacted land rate of S$969 psf ppr, said Sieow Teak Hwa, managing director of Teakhwa Real Estate, the property’s marketing agent. Located at the edge of Kent Ridge Park, the sea-facing site is set in ...

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

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