A Minority Owner's chronicled journey through 3 Collective Sale attempts; the last one being successful. TC was a 560 ex-HUDC estate with a thriving community spirit (up until the enblocs that is). I have moved on to a new, 37 unit Freehold estate. Life is quiet now with zero community feeling.
how did TC objectors delay government applications?
2.why did SL delay OPP application in DEC,most likely after objection dropped? A GOOD four months is wasted. 3 i CAN DARE say SL has killed the TC enbloc potential .
The delay is because of objection which blogger passionately support. Not because of the 2 mths wasted in objection, we would have near completion now.
Objections are par for the course and are not to blame for this delay. The Buyer can and should apply for the necessary Approvals immediately after the sale and concurrent to the objections. They know - even if out CSC member doesn't - that for a collective sale, the 5 yr PCP (Project Completion Period) starts from the STB Sale Order and not from the date of sale.
So, ironically, if the STB had issued their Order sooner, they would be in a bigger mess now. Their PCP date would have started earlier and still no Approvals. Tick tock. As it is, the STB Sale Order came on 2nd Jan, so at least their PCP period is still in tact.
So you could say, the Objections have been a positive thing for Sim Lian, it bought them some extra time.
It is pointless to second guess the DC rate - the increase is not a surprise, the quantum of increase is.
Deeply impressed by the quality work done by MA of Braddel! But our MA Huttons is also catching up, at least respond much faster than before. Good sign!
Tks. Blogger, Enbloc enthusiasts are learning alot about the TC episode to-date and to be better prepared of the pitfalls along the way. In my opinion, appointing responsible Enbloc Managing Agent must play an important role to update SPs along the way on forltransparency.
A weird question suddenly comes to my mind, LUP bustered, but SL continues the deal. Now DC increased by 25%, which is not in the condition. Can SL still use LUP clause should he wants to rescind and be able to take back the 1mil deposit?
Yes, SL can throw in the towel anytime between now and the 27th April. The fact that it hasn't yet indicates to me that it is still a willing buyer. The DC increase was the steepest to date (and I have been following the DC for years). It is always pointless to speculate on the DC beforehand because the Gov will do what it will do.
Would SL give TC a miss and tender for another enbloc site, which has to start all over again planning and applying. Which other developers are head start building and selling.
The bigger or larger the land parcels, also got it's headaches too.Money No Enough for developers.
ReplyDeleteOMG check out who their lawyers are! I have a feeling their SPA will be iron-clad.
ReplyDeleteDC for Braddell will be quite high isit it?
ReplyDeleteThat’s 900+ SPs and $2bn. Its not just the price but the staggering number of SPs. Just takes 1 objector as we have learnt.
ReplyDeleteBy the way TC Fb page is now updated with rather positive (or no negative) news. Thanks, I mean at least we know the patient is breathing.
how did TC objectors delay government applications?
Delete2.why did SL delay OPP application in DEC,most likely after objection dropped?
A GOOD four months is wasted.
3
i CAN DARE say SL has killed the TC enbloc potential .
The delay is because of objection which blogger passionately support. Not because of the 2 mths wasted in objection, we would have near completion now.
DeleteObjections are par for the course and are not to blame for this delay. The Buyer can and should apply for the necessary Approvals immediately after the sale and concurrent to the objections. They know - even if out CSC member doesn't - that for a collective sale, the 5 yr PCP (Project Completion Period) starts from the STB Sale Order and not from the date of sale.
DeleteSo, ironically, if the STB had issued their Order sooner, they would be in a bigger mess now. Their PCP date would have started earlier and still no Approvals. Tick tock.
As it is, the STB Sale Order came on 2nd Jan, so at least their PCP period is still in tact.
So you could say, the Objections have been a positive thing for Sim Lian, it bought them some extra time.
It is pointless to second guess the DC rate - the increase is not a surprise, the quantum of increase is.
Deeply impressed by the quality work done by MA of Braddel! But our MA Huttons is also catching up, at least respond much faster than before. Good sign!
ReplyDeleteTks. Blogger, Enbloc enthusiasts are learning alot about the TC episode to-date and to be better prepared of the pitfalls along the way. In my opinion, appointing responsible Enbloc Managing Agent must play an important role to update SPs along the way on forltransparency.
ReplyDeleteIf SL has not provided a no go at this point after DC news, systems are still all go. And its even clearer now that SL wants this to happen.
ReplyDeletere 7.you can hope for the best,but also should prepare for the worst.
Deletethe worst is more likely than the best.
re 7.1 - you can hope to live, or you can hope to die.
DeleteBased on your thinking, dying is more likely than living, so you should prepare for it now.
A weird question suddenly comes to my mind, LUP bustered, but SL continues the deal. Now DC increased by 25%, which is not in the condition. Can SL still use LUP clause should he wants to rescind and be able to take back the 1mil deposit?
ReplyDeleteYes, SL can throw in the towel anytime between now and the 27th April. The fact that it hasn't yet indicates to me that it is still a willing buyer. The DC increase was the steepest to date (and I have been following the DC for years). It is always pointless to speculate on the DC beforehand because the Gov will do what it will do.
Deletere 8.1.SL Can only rescind on the dates (jan and Mar ,plus extensions)or conditions matured (LUP) stated in ASP.
ReplyDeleteNOT any day.
3 to 5 years down land getting more expensive DC charges higher building materials increase coz of GST increase.
ReplyDeleteWould SL give TC a miss and tender for another enbloc site, which has to start all over again planning and applying. Which other developers are head start building and selling.
ReplyDeletethe web site in very informatics。
ReplyDeletewith phone nos,e mails of MA.team members,lawyers n house replacement teams.
it make 37 slides presented at SP MEETING open for outsiders to see.WHAT a transparent job.
https://collierscs.wixsite.com/braddellview