Laguna Park lelong on the way

[downgrader]

Published December 12, 2008

Laguna Park for en bloc sale?
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LAGUNA Park condominium along Marine Parade Road could be up for collective sale, with about 77 per cent of tenants so far agreeing to it, Channel NewsAsia reported.


The sales committee could expect a few more signatures in the coming days to cross the 80 per cent trigger point which will move the en bloc process forward. Channel NewsAsia understands that the asking price is about $1.2 billion. Each owner stands to pocket between $1.8 million and $2.1 million. It works out to about $633 per square foot of gross floor area, Channel NewsAsia said.

Nicholas Mak, director, consultancy and research, Knight Frank, said: 'In today's market, the owners will probably have to lower their expectation, easily by 20 per cent.'

Laguna Park condominium sits on 667,000 sq ft of land with a plot ratio of 2.8.

 

[theblackhole]

hahhaaaa....now want to collective sale....who will buy now? $1.8 to $2.1 millions per unit !!! at this recession time ??? waulau, good luck to the takguna residents!!!..if can get $1 million should be happy!!!

 

[ahleebabasingaporethief]

hahhaaaa....now want to collective sale....who will buy now? $1.8 to $2.1 millions per unit !!! at this recession time ??? waulau, good luck to the takguna residents!!!..if can get $1 million should be happy!!!

HAHAHAHA....I cant stop laughing......

Maybe just maybe got buyer ah.....that MALAYSIAN Group that bought our last Power Plant. The same one that paid SUPER high enbloc price for WESTWOOD condo.

Malaysians always have a habit of paying high prices ah. Even their Khazena (equal to Termasick) paid $4 plus for one of our public-listed shares when the share was only trading at $2 plus. Believe its a medical company. Cannot remember which one. Still i think they are now the largest shareholder.

Malaysia boleh ah!

 

[DOM the Clown]

hahhaaaa....now want to collective sale....who will buy now? $1.8 to $2.1 millions per unit !!! at this recession time ??? waulau, good luck to the takguna residents!!!..if can get $1 million should be happy!!!

no....it's not takguna residents..............it's TANKUKU residents.....

hiak! hiak! hiak!
DOM

 

[hillary888]

...The sales committee could expect a few more signatures in the coming days to cross the 80 per cent trigger point ...

I see more harassment, knocking on doors coming their way. One last desperate attemp to close the sale.