28 Jan '16, 3am

#singapore #property Shunfu Ville tries to en bloc again: Shunfu Ville’s owners re-laun...

#singapore #property Shunfu Ville tries to en bloc again: Shunfu Ville’s owners re-laun...

Aerial view of the Shunfu Ville site. (Photo: JLL) Shunfu Ville has been re-launched for collective sale at the same reserve price of $688 million, or $791 psf ppr, said marketing agent JLL. This is the second time that the 358-unit residential development built in the 1980s has gone en bloc after more than 80 percent of the owners agreed to the sale. The first attempt at a collective sale in September 2015 attracted expressions of interest from two developers, but PropertyGuru understands that the offers were rejected for being too low. Situated in the Bishan/Thomson area, the 408,927 sq ft site is zoned residential under the 2014 Master Plan and could yield over 1,100 units with an average size of 1,000 sq ft. Yong Choon Fah, National Director of Capital Markets at JLL, noted that while the residential market continues to be bogged down by the property cooling measures, ...

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

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