Home owners eye price tag of at least $1b in view of prime location, collective-sale fever. – Annabeth Leow (The Straits Times, Friday Sept 22, 2017)
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. They had asked for $1.39 billion in 2014.
A $1 billion 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 units in the estate have fetched so far this year.
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