Arcachon
15-03-21, 08:21
Residents of leasehold properties sitting on freehold land face an extra poser in seeking collective sale
SINGAPORE — Many homeowners of the 325-unit Spring Grove condominium are keen to put the prime Grange Road property up for collective sale.
Besides a looming deadline to gather the requisite agreement of 80 per cent of owners, their attempt to push for an en-bloc sale potentially faces another unusual hurdle.
The District 10 plot sits on freehold land owned by the United States government but comes with a 99-year lease, and it is unclear how much any potential buyer will have to pay to top up the lease.
Read more at https://www.todayonline.com/singapore/residents-leasehold-properties-sitting-freehold-land-face-extra-poser-seeking-collective
https://www.todayonline.com/sites/default/files/styles/new_app_article_detail/public/photos/43_images/spring.jpg?itok=C3LbhQxh
SINGAPORE — Many homeowners of the 325-unit Spring Grove condominium are keen to put the prime Grange Road property up for collective sale.
Besides a looming deadline to gather the requisite agreement of 80 per cent of owners, their attempt to push for an en-bloc sale potentially faces another unusual hurdle.
The District 10 plot sits on freehold land owned by the United States government but comes with a 99-year lease, and it is unclear how much any potential buyer will have to pay to top up the lease.
Read more at https://www.todayonline.com/singapore/residents-leasehold-properties-sitting-freehold-land-face-extra-poser-seeking-collective
https://www.todayonline.com/sites/default/files/styles/new_app_article_detail/public/photos/43_images/spring.jpg?itok=C3LbhQxh