Business

Spring Grove condo back on the market

Spring Grove condominium, in upmarket Grange Road, is going back on the market just three years after a failed collective sale bid.

Owners in the 325-unit estate believe they can get at least $1 billion, "if not more", a sale committee representative said yesterday.

A $1b price works out to about $1,807 per sq ft (psf), based on a maximum gross floor area of 553,377 sq ft. This is above the $1,285 psf to $1,438 psf that apartments in the estate have fetched this year.

Upbeat home owners cite the development's prime location and the ongoing collective-sale fever as reasons for their sunny outlook.

Corporate adviser Adrian Loh said the "immense experience and knowledge" that owners gained from the failed sale bid should speed up the process this time round. - THE STRAITS TIMES

PropertysalesFinance