Tag Archives: Laguna Park

Laguna Park owners mull lower sale price

Posted on 19 Oct 2009 | Comments Off

At between $950 million and $1 billion, the new price range works out to between $693 and $723 per square foot per plot ratio.

OWNERS of units at Laguna Park, whose $1.2 billion collective sale bid failed last week, are now considering a lower sale price of between $950 million and $1 billion.

The new range works out to between $693 and $723 per square foot per plot ratio (psf ppr), including an estimated $400 million payable to the state to raise the intensity of the site to the plot ratio of 2.8, and topping up the lease to a fresh 99-year term. This compares to $844 psf ppr at the reserve price of $1.2 billion.

These were some of the numbers discussed at a meeting of about 200 Laguna Park residents yesterday afternoon, called to consider the results of the failed tender and discuss possible options. Continue reading →

Comments Off on Laguna Park owners mull lower sale price

Posted in En-bloc / Collective Sales

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

Laguna Park owners to consider selling at lower price

Posted on 19 Oct 2009 | Comments Off

Owners of units in Laguna Park, whose tender closed unsuccessfully on Friday, are now considering selling at a lower price.

The new price is said to be between S$950 million and S$1 billion.

The development’s marketing agent Credo said residents are likely to receive letters advising on the situation in the next two or three days.

Earlier, many property analysts said Laguna Park’s initial S$1.2 billion reserve price was on the high side.

Residents of Marine Parade’s Laguna Park streamed out of the gates at about 4.30pm on Sunday afternoon, after a 2.5-hour meeting to discuss the fate of the collective sale of the development.

Despite two bids being made when the tender closed last Tuesday, no buyer managed to put down a payment to seal the S$1.2 billion deal. Continue reading →