Majority of Braddell View owners approve $2.08 billion price for en bloc sale
The 918-unit Braddell View residential project in District 20 is poised to be launched for collective sale after it secured the approval of at least 80 percent of its owners, Colliers Intl said. Braddell View has about 61 years left on its 102.5-year lease that commenced in 1978. Aside from being the largest of the 18 former HUDC estates in Singapore with a land area of 1.14 million sqft, it is also the last to be privatised in Mar 2017. Although the required number of signatures has been met, Colliers Intl’s MD Tang Wei Leng revealed that this is still being legally verified and there is a five-day cooling-off period. The owners have set the reserve price at $2.08 billion, which translates to $1,214 psf ppr. If the collective sale is successful, it would become Singapore’s most expensive en bloc sale, exceeding the $1.34 billion sale of the 618-unit Farrer Court in 2007. The asking price includes $831 million for the lease top-up and differential premium. Under the 2014 masterplan, the Braddell View site has a plot ratio of 2.1....
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