More collective sale hopefuls
The collective sale fever rages on, with another estate ready to chance its arm while freehold Royalville condominium in plush Bukit Timah hit the market yesterday.
The new candidate is Cashew Heights condo in Upper Bukit Timah Road, whose owners formed a sales committee, albeit on their third try.
The 999-year leasehold development with 596 apartments and three shops on a 953,000 sq ft site garnered 62 per cent of votes in support of the formation of a committee.
It will hold an extraordinary general meeting next month to select a marketing agent and a lawyer. Built in 1990, the condo is near Cashew MRT station.
"Our built-up plot ratio is estimated to be 1.16, but our allowed plot ratio is 2.1," said Mr David Wong, vice-chairman of the collective sales committee.
Meanwhile, Royalville was launched yesterday with an asking price of $368 million, reflecting a land rate of $1,509 per square foot per plot ratio.
No development charge is payable, and the tender closes on Nov 10. Built in the 1980s, Royalville has 93 units and 11 shops. The 174,176 sq ft site has a gross plot ratio of 1.4, so it can accommodate a project of up to 323 units. - THE STRAITS TIMES
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