Tag Archives: Laguna Park Enbloc

Laguna enbloc bid fails

Posted on 16 Oct 2009 | Comments Off on Laguna enbloc bid fails

OWNERS of East Coast condo Laguna Park have failed in their bid to sell the property en bloc.

Marketing agent Credo Real Estate said on Friday that athough the tender for Laguna Park’s en bloc sale closed unsuccessfully, owners have until December to enter into a private treaty with any developer to sell the estate.

At the close of the en bloc sale on Oct 13, two bids were received for the 528-unit development at Marine Parade, said Credo.

One of them was from a local firm which offered $1.728 billion – well above the owners’ Reserve Price of $1.2 billion.

It is understood that the principal shareholders are based in Indonesia.

The sales committee had negotiated with the first party on the terms of the sale. Continue reading →

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Posted in En-bloc / Collective Sales

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Not remorseful? Prosecution seeks stiffer sentence

Posted on 29 Aug 2009 | Comments Off on Not remorseful? Prosecution seeks stiffer sentence

Mr Lee Kok Leong had vandalised his neighbours’ padlocks over an en bloc sale dispute. — ST PHOTO: SHAHRIYA YAHAYA

THE former management committee chairman of Laguna Park has already been fined $1,200 for committing mischief – vandalising his neighbours’ padlocks.

But prosecution lawyers have pounced on comments he allegedly made to reporters – that he was not remorseful – to push for a stiffer sentence for him.

Yesterday, two reporters were put on the stand so they could tell the court what Mr Lee Kok Leong, 62, said to them.

The general manager of a logistics firm had pleaded guilty to two counts of mischief and was fined in April. He could have been fined up to $10,000 and sentenced to a year in jail on each charge.

He committed the acts of vandalism in August last year amid a row among Laguna Park residents over whether the condo should be sold en bloc. Continue reading →

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Posted in Conveyancing / Legal, En-bloc / Collective Sales

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