Thursday, September 22, 2011

And yet more enbloc news: Cavenagh Gardens


Reference: "Fresh en bloc bid by condo in Cavenagh Rd" - The Straits Times, 22 Sep 2011


Yes, Cavenagh Gardens' expected price of between $1,620psf ppr and $1,688psf ppr may be "reasonably attractive" compared to Cairnhill Mansion's reserve price of  $2,308psf ppr, but that is probably one reason why the later is still unsold after the May 31st tender dateline.

With developers showing extremely low appetite for redevelopment plots of more than $500 million, and given that the largest collective sale for 2011 to date is a mere $171 million, the wife and I cannot help but wonder if it is an opportune time to re-launch the en bloc bid for Cavenagh Gardens now. But PropNex may know something that we don't - the expected price of Cavenagh Gardens is a tad below $500 million after all - or is it just a case of "don't try, don't know"?

Time will only tell...

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3 comments:

Anonymous said...

So anyone has any updates on Cavenagh Gardens? This place is has 2 major problems, its proximity to the Istana may result in all its windows facing Istana 'bricked-up' just like the condo down the street. And the CTE tunnel entrance right next to it, the noise and soot is out of this world.

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Anonymous said...

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