In en bloc sales the reserve price is an open secret.
In Government land sales NO PRIVATE SALES are allowed, it's all STRICTLY by public tender.
In en bloc sales, the sale is through public tender , auction or private sale. From experience we know the tender is a statutory exercise, a sham, the real deal is done privately, behind doors, at midnight, in a very non-transparent manner.
In en bloc sales, the sale is through public tender , auction or private sale. From experience we know the tender is a statutory exercise, a sham, the real deal is done privately, behind doors, at midnight, in a very non-transparent manner.
it would be good to note whether recent enblocs are sold at the reserve price or higher.
ReplyDeleteA quick look:
ReplyDeletePender Court: RP 100m - Sold 95m June 2010
Toh Tuck: RP 35.5m - Sold 33.9m Aug 2010
Goodrich Park: RP 85m - Sold 86m Jul 2010
Culford Garden : RP 37-40m - Sold 39m Apr 2010
Glenville: RP: 38-40m - Sold 39.5m Oct 2010
Reserve price is one figure, not a range. What is have under reserve price is actually the asking price published by the MA. The asking price is always higher than the reserve.
ReplyDelete