Green lodge asking $135m for en bloc deal
Business Times - 31 Dec 2009
Green Lodge Condo up for en bloc sale
Straits Times - 31 Dec 2009
Greenlodge Condominium up for collective sale, asking price $135m
Channel NewsAsia - 31 Dec 2009
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Project Name:
GREEN LODGE
Address:
19, 19A TOH TUCK ROAD
Type: APARTMENT / CONDO
District: 21
Year Completed: 1984
Tenure: FREEHOLD
Total Units: 80
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Not a good price - their 40% premium will surely be eroded 1-2 yrs down the line. Already the new projected is projected to be double the price psf. Another case of HALF THE SIZE and DOUBLE THE PRICE. If the owners try to relocate to other established condos in the area they will also find the prices there would have risen on the back of an expected influx of GreenLodge enblocers....
Basing the en bloc price on resale prices of surrounding condominiums in the present market is wrong, wrong, wrong. When will they ever learn!!
Green Lodge will be snapped up at this bargain basement price.
Freehold too!
Green Lodge is staging another en bloc attempt. A new sales committee is formed, and in the midst of appointing a marketing agent. But the funny thing is, units in the developement are changing hands fast. Recent asking price matches or is higher than en bloc price, yet there are interested parties wanting to buy.
ReplyDeleteHave they been formally elected at an EOGM?
ReplyDelete