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Laguna Park en-bloc sale

Posted on 2 Sep 2009 | Comments Off

The Laguna Park condo, which made headlines in the past year for its spate of vandalism cases due to disputes in its en bloc sale process, reached the 80 per cent consent level last December.

EAST COAST condominium Laguna Park was put on en-bloc sale for $1.2 billion on Wednesday.

The condo, which made headlines in the past year for its spate of vandalism cases due to disputes in its en bloc sale process, reached the 80 per cent consent level last December.

Its marketing agent Credo Real Estate said the tender was put on hold until now ‘as major developers have only recently returned to the land market with confidence.’

If it succeeds in finding a buyer, Laguna Park wil be the second billion-dollar en bloc deal in Singapore, after the 618- unit Farrer Court which was sold to a CapitaLand-led consortium for $1.3388 billion.

Like Farrer Court, Laguna Park is an ex-HUDC estate in Marine Parade and was privatised in 2007.

At the current price tag, owners of the apartment units will receive sale proceeds ranging from S$2.1 million to S$2.3 million, while the penthouses will gain between S$3.5 million and S$4.1 million. Continue reading →

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Posted in En-bloc / Collective Sales

Tagged Collective Sales, En-bloc / Collective Sales, Enbloc, Laguna Park

Purr-fect end to en bloc tale

Posted on 30 Aug 2009 | Comments Off

Two years ago this month, Singapore was in the grip of en bloc fever. Condominiums were being sold for redevelopment faster than you could say Strata Titles Board.

The frenzy resulted in a flood of dispossessed tenants having to search for somewhere new to live. The mass move still has ripples today. In my own small world, it set the cat among the pigeons, literally. This is the tale of my tabby cat, Poppet.

Our family had been renting the same condo unit for eight years when suddenly our landlady phoned to say that the condo apartment that she herself had been renting – a nicer, bigger place close to town – had gone en bloc. She had tried to find somewhere comparable to live, but buildings all around her were also undergoing collective sales, and at those that hadn’t, the rents had gone through the roof.

As a result, she was going to have to move to our small unit and make do there. She did not want to come, and we did not want to go. But move we all had to. Continue reading →