ERA is handling the collectives sale at MARINE POINT.
CapitaLand to acquire Marine Point - CNA Jan 2011
A valuation on the estate had been done some time previously ( date unknown to blogger).
The tender for Marine Point closed on November 18, 2010 with no tender bids. It was subsequently sold by Private Treaty. A new valuation was done by Knight Frank which showed that the older valuation was too high. The RP was reduced and 80% of the owners signed for the reduced RP. The minority (a 70yr old woman who speaks no English and is clueless about valuations) is objecting to the sale at the STB. She is not being legally represented and cannot fight fire with fire.
At the High Court tomorrow:
Glenville High Court at 10am.
Just discovered:
The STB has finally decided to put up it's written decisions on past collective sales here (alas, TC is not one of them). Excellent decision by someone at the STB. If only MinLaw would be so good. All such decisions (legal and quasi-legal) are public, paid for out of the public coffers, and should by right be accessible to the public freely and for free.
IMPORTANT READING: FINLAND GARDENS : A lesson on how sneaky agents can be, paying off the last 3 owners to reach the 80% (conditional signers), fending off higher offers because 'negotiations are at an advanced stage' with another customer.
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