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Thread: Pender Court sold for $95m, 2 other sites for sale

  1. #21
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    Thank Q. It's Bra-Vo again

  2. #22
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    Quote Originally Posted by louisebrown
    Thank Q. It's Bra-Vo again
    Is it really Bravo? They could have saved a lot of money if they had not backed out of the deal in 2008.

    First, they forfeited their $12 million deposit, which allowed each Pender Court owner to pocket $250,000. Then now they bid $95 million which is $15 million more than the $80 million they bid in 2007 ?

    They could have saved $27 million altogether if they had just ignored the Lehman Crisis and held on to the property.

    Now there is a Greek Crisis brewing. I wonder if they will back out again and forfeit their $12 million deposit and then buy back again at $110 million in 2012? and then by then there will probably be another crisis ...

    Pender Court people could end up very rich.

    Quote Originally Posted by mr funny
    Bravo agreed to pay $80 million or about $872 psf of potential gross floor area. No development charge was payable then.

    It decided in April 2008 to cut its losses on the deal, rather than pump in more money and make a bigger loss by pursuing the development.

    The property market had slowed considerably by then, from the boom days of the previous year.

    Pender Court owners got to keep the $12 million deposit, which worked out to an average of $250,000 per unit.

  3. #23
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    they seriously nid to visit this forum...

  4. #24
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    Bravo had financial difficulties so they were NOT in a position to practice propertism. I will also find it very amusing like what you described if its really Bravo again.

    Quote Originally Posted by jlrx
    Is it really Bravo? They could have saved a lot of money if they had not backed out of the deal in 2008.

    First, they forfeited their $12 million deposit, which allowed each Pender Court owner to pocket $250,000. Then now they bid $95 million which is $15 million more than the $80 million they bid in 2007 ?

    They could have saved $27 million altogether if they had just ignored the Lehman Crisis and held on to the property.

    Now there is a Greek Crisis brewing. I wonder if they will back out again and forfeit their $12 million deposit and then buy back again at $110 million in 2012? and then by then there will probably be another crisis ...

    Pender Court people could end up very rich.

  5. #25
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    Quote Originally Posted by louisebrown
    Thank Q. It's Bra-Vo again
    Its not Bravo.

    I have already given you guys the hint in my earlier posting...

  6. #26
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    oh yeah, sorry we got carried away with the Bravo bashing LOL. HH, someone said Hiap Hoe but don't think you confirmed. Anyway if not Hiap Hoe then its Hoi Hup but my guess is the 1st one.


    Quote Originally Posted by tkc2263
    Its not Bravo.

    I have already given you guys the hint in my earlier posting...

  7. #27
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    C'on, the bidder is hiding behind a veil of incomprehensible secrecy. Aren't they proud to have put in the successful bid?

  8. #28
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    Quote Originally Posted by louisebrown
    C'on, the bidder is hiding behind a veil of incomprehensible secrecy. Aren't they proud to have put in the successful bid?
    bidder?

    thought its cfm already ?

  9. #29
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    What's cfm please?

    No one dares to name the successful buyer here. Something's not right or fishy.

  10. #30
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    maybe all ready to backout?

    signed option but not exercised yet?


    Quote Originally Posted by louisebrown
    What's cfm please?

    No one dares to name the successful buyer here. Something's not right or fishy.

  11. #31
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    Quote Originally Posted by louisebrown
    What's cfm please?

    No one dares to name the successful buyer here. Something's not right or fishy.

    errrr

    cfm = confirm

    not Come Fk Me ...if thats what you are thinking

  12. #32
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    It still begs that no one has the guts to confirm anything. So it was juz

  13. #33
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    Perhaps it's unusual but I reckon it's not a big deal.
    Various reasons to explain the new bidder not declaring it's new ownership.

    More importantly Credo has announced it publicly. That's means it has agreement from CS and bidder. Also means more than 80% of the development agreed to lower revised price from the initial RP.

    I think perhaps it's pending one of the conditions the bidder has laid out but Credo thinks it's not going to be a deal-breaker.

    At 95m and over $1000 ppr, I think it fetch a good price. Will set a new bench-mark for low-rise in that area of Telok Blangah.

  14. #34
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    Quote Originally Posted by louisebrown
    It still begs that no one has the guts to confirm anything. So it was juz
    Can you take the truth!!!!

    Its Hoi Hup....Happy now...

  15. #35
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    Who's pinching the 'truth' out from U? It could well be, as I have been reckoning for a while now, be just another

  16. #36
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    Quote Originally Posted by louisebrown
    Who's pinching the 'truth' out from U? It could well be, as I have been reckoning for a while now, be just another
    See what I mean....move on lad...

  17. #37
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    Pender Court sold to Hoi Hup Realty for S$95m
    By Jonathan Peeris | Posted: 14 June 2010 1548 hrs




    SINGAPORE : Pender Court, a 48-unit development at the foot of Mount Faber, has become the eighth successful en bloc sale in Singapore this year.

    The property was sold to Hoi Hup Realty for S$95 million. That translates to about $1,007 per square foot per plot ratio.

    Credo Real Estate launched a tender for the site that closed in May.

    The collective sale is subject to approval from the Strata Titles Board.

    With the sale, the owners stand to receive an average price of S$1.98 million.

    The site has a land area of about 65,000 square feet and is designated for residential use with a plot ratio of 1.4 and an allowable height of up to 5 storeys.

    Credo said the new development could be configured into approximately 103 apartment units with an average size of 1,000 square feet, depending on layout and configuration.

    The district 4 site is only five minutes drive from Vivo City, Resorts World, Universal Studios and other attractions at Sentosa. - CNA /ls
    [CENTER][COLOR=#804000][B]BE CENTRED BY ALL AT THE FRINGE OF THE CITY @ [URL="http://www.eightwoodleigh.freeforums.org/index.php"][/URL][/B][/COLOR]
    [/CENTER]

  18. #38
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    ThankQ for this truth, sleek.

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