Laguna Park En Bloc Tender Unsuccessful

Laguna Park’s en bloc tender results are unsuccessful, according to Channel News Asia.

Laguna Park, East Coast

Laguna Park, East Coast

There were two interested party in the exercise bid, namely a local company which comprises of shareholders from Indonesia and a prominent local developer.

Credo, the appointed agency for Laguna’s en bloc project gave a brief breakdown of the two parties. The local company offering bid of 1.7 billion, far exceeding the reserved price of 1.2 billion, but pulled out its offer citing difficulties with the bankers to remit the funds to process in Singapore.

The second party, prominent local developer has expressed interest to settle on a bid price after negotiations with majority owners. The majority owners have about a month to enter into any private treaty deal before the collective sale agreement expires in December.

About Laguna Park

An ex-HUDC which was privatised in 2007, the 528-unit leasehold Laguna Park has a sprawling land size of about 677,493 sqft with a plot ratio of 2.8 (under the current Master Plan 2008) can build up to 36 storeys, subject to relevant approval from the URA.

Laguna Park Site Location

Written by Benson Koh
Benson Koh is a professional real estate realtor with over 9 years of experience specializing in all forms of real estate consultancy and brokeraging of different segments from regal homes to commercial spaces. Also a boutique developer, he manages bothSRI5000 Developments which concentrates on landed homes as part of his land bank segment and Singapore Realtors Inc (SRI), a real estate agency which has over 5 years of group experience. You can reach him here via various channels. [ Facebook | Linkedin | Twitter | RSS Feed ]