En bloc hopes revive amid a risk-averse market
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IS THE collective sale market stirring again? After months of no deals, two large plots of land are now on offer. Pine Grove upped the asking price for its huge 890,000 sq ft plot to S$1.95 billion, after several earlier attempts at a sale.
On top of that, a land betterment charge, estimated at S$1 billion, would weigh heavily on the effective acquisition cost of about S$1,434 per square foot per plot ratio for the 99-year-leasehold parcel. The condominium houses 660 units.
Island View, meanwhile, is being offered at a reserve price of S$575 million, working out to a land rate of around S$1,623 psf ppr including an estimated LBC of S$178 million for the 72-unit condo. The freehold parcel in Pasir Panjang is about a third of the size of the Pine Grove plot.
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