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Thread: Melrose Court sold for S$44m in en bloc sale

  1. #1

    Default Melrose Court sold for S$44m in en bloc sale

    Melrose Court sold for S$44m in en bloc sale
    By Ephraim Seow | Posted: 01 September 2010 1712 hrs


    SINGAPORE: Melrose Court in Balestier has been sold for S$44 million in a collective sale.

    The 32-unit residential development at No.10, Lorong Limau was sold to local boutique developer Melrose Land.

    The property's broker, Colliers International, says that Melrose Court is not linked to Melrose Land and notes that the sale is subject to the approval of the Strata Titles Board.

    The freehold residential site has an area of 23,789 square feet.

    Under the 2008 Master Plan, it has a gross plot ratio of 2.8.

    Including the development charge of about S$277,235, the sale price translates to a land price of about S$665 per sq ft per plot ratio.

    Colliers International says that upon approval, each owner is expected to receive gross proceeds of some S$1.129 million to S$2.261 million from the sale, depending on the size of their unit.

    It also says that the site could accommodate a residential development of up to 36 storeys, comprising some 88 units of 830 sq ft each.

    - CNA/ir
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @


  2. #2
    Junior
    Join Date
    Apr 2008
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    Quote Originally Posted by sleek
    Colliers International says that upon approval, each owner is expected to receive gross proceeds of some S$1.129 million to S$2.261 million from the sale, depending on the size of their unit.
    There are those who laugh at people who buy en bloc properties, and there are those who laugh all the way to the bank.




  3. #3

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    Wow!! $250K for a 1927sf ground floor unit in 2001!

    Quote Originally Posted by jlrx
    There are those who laugh at people who buy en bloc properties, and there are those who laugh all the way to the bank.


    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @


  4. #4

    Default

    Quote Originally Posted by sleek
    Wow!! $250K for a 1927sf ground floor unit in 2001!
    I think it might be an "internal" sale or bought over the share value from family member.


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