Sailodge sounds better...Quote:
Originally Posted by DC33_2008
Sailodge sounds better...Quote:
Originally Posted by DC33_2008
Cash out to dump into other properties and share :)Quote:
Originally Posted by TheOnlyGayInTheVillage
I'm planning to sell too.. Rental has been steady, but don't really wanna hold on to this property.
Me too .. But don't know whether a right time to sell!Quote:
Originally Posted by ilgr
i have PM-ed you, maybe we can exchange our thoughts or share info. i have received advice from my agent who does my rentals.Quote:
Originally Posted by easteast
Hen Ah, sold mine 3 months ago. BTW, not selling like hot cakes like people think. Too a while but finally sold.
nicely done. hope to let go of my unit by this year.Quote:
Originally Posted by JuzMe
May i know the reasons for selling your units at The Sail? I thought this site will command better prices in mid to long term horizon?
I am not an owner here. Hope to have one though. I bet the fireworks is within sight?
hmm.. well i cant say no to a nice profit on this unit right?Quote:
Originally Posted by mygeemeel
hmm.. well i cant say no to a nice profit on this unit right?Quote:
Originally Posted by mygeemeel
:D:D:D 6mth contract with option to terminate without penalty... 道高一尺 魔高一丈Quote:
Illegal leasing at Marina Bay condo
Sunday Times team offered contract by website carrying ads for short-term apartment rentals
By Joyce Lim
Two weeks after The Sunday Times reported that the Urban Redevelopment Authority (URA) is investigating the illegal short-term leasing of apartments at The Sail @ Marina Bay, a check has found that such leasing is occurring at the waterfront condominium.
Several websites continue to blatantly carry advertisements of units available for short-term leases at The Sail @ Marina Bay.
The Sunday Times responded to one of the advertisements on Sailatmarinabay.com, with a staff member posing as a foreigner and indicating an interest to rent a one-bedroom apartment from Oct 1 to Oct 31.
In an e-mail reply, a customer service and sales employee quoted an "Executive Deluxe City View" one-bedroom apartment for a discounted price of $7,200 nett a month, and an additional $500 payable for one with a view of the Marina Bay area.
When The Sunday Times team turned up for the viewing on Sept 12, it was shown two units located on levels 14 and 17 of Tower 1, and a third unit on level 16 of Tower 2, which offers a partial view of the Marina Bay area.
A lease agreement was later presented, stating a leasing period of six months starting on Oct 1, even though the team said it was keen to rent it for only a month.
The employee, who went by the name "Ewan", explained that the law requires the lease contract to be for a minimum period of six months. However, he pointed out a clause in the contract giving the option for early termination on Oct 31.
The contract could be terminated after one month, assured Ewan.
A search on the Accounting and Corporate Regulatory Authority revealed that Sailatmarinabay.com is owned by Bergen Associates Group. Its managing director Peter Leung, a Singapore permanent resident, is a resident and a former management council member of The Sail.
When this reporter later revealed her identity to Mr Leung and questioned him on the short-term lease, he declined to comment.
Under URA's guidelines on leasing and subletting of residential properties, it is illegal to lease such properties for stays of less than six months.
URA has said that if investigations establish that a residential unit is being misused, the person responsible may be fined up to $200,000, imprisoned for a term of up to 12 months, or both.
A URA spokesman told The Sunday Times that URA has received seven complaints over the last couple of weeks and added that "investigations are ongoing" on the unauthorised use of the residential units at The Sail @ Marina Bay.
Last year, one resident, who wanted to be known only as Mr S. K. Cheah, terminated his leasing agreement with Bergens Associates Group after he found out that his apartment was allegedly being subletted, which was not part of the agreement between the two parties.
The 53-year-old investor told The Sunday Times: "I had three different people staying in my apartment in three months. So I decided to do a spot check one night, and I found out that my apartment, which was leased to Bergens Associates for $4,500 a month, was sublet to another company for $8,500 a month.
"I would not let my unit be leased out illegally as a serviced apartment."
But tenants of The Sail @ Marina Bay may not be aware that the apartments have been illegally leased to them on a short-term basis.
The Sunday Times team met an American couple as they were checking out from the condominium last Tuesday. The couple arrived in Singapore last month and had stayed in a one-bedroom apartment on the 47th floor from Aug 19 till then.
The husband, a director in a multinational foreign bank here who declined to be named, was shocked when he was told that it was illegal for the serviced apartment operator to lease the apartment to him for only a month.
He said: "The accommodation was arranged for me by my company. The whole place looked like it was for corporate rental. I didn't know that it was illegal.
"The services provided by Marina Bay Service Residences were excellent. Their staff were very dedicated and helped me with everything including arranging for my transport and booking a tennis court."
In 2010, URA investigated about 1,000 cases of the unauthorised use of private residential properties, which included short-term stays and the unauthorised conversion of private residential properties to workers' dormitories or boarding houses.
By last year, URA saw an 80 per cent rise in the number of such cases to 1,800 cases. In the first seven months of this year, there were about 980 such cases, similar to the number seen in the same period last year, said its spokesman.
URA told The Sunday Times that it has not charged anyone in court for illegal short-term rentals thus far "because home owners typically comply with our requirements to rectify the planning infringements when they are notified".
:D :D This sg-pr and Bergen Associates famous liao
:D i wonder if the owner is paid $7k, instead of $4.5k, will he keep happy and kept quiet instead
Conclusion: The Sail is very high in demand :cheers4:
Smart greedy people are everywhere ;)
Is sail a serviced apartment? The price differential of 4k is quite huge
Quote:
Originally Posted by proud owner
Posted on 25th Aug 2009
Hi, there were reports last year on pipe problems. Are there any updates? Will it be ever resolved?
It's a pity for this development cos it's very iconic-looking. Prices are attractive now but that's only if structural problems can be expected to be corrected...
2010 until now break even (if count rental could make a bit)
28 MAR 2014 6 MARINA BOULEVARD #XX-XX 614sqft 2,103psf 29 JAN 2010 2,054psf 30,086 1,519d 0.6%
if bought 2007 might make more from rental
14 OCT 2013 2 MARINA BOULEVARD #XX-XX 883 2,830 20 AUG 2007 2,851 -18,543 2,247 -0.1
11 JAN 2013 2 MARINA BOULEVARD #XX-XX 1,184 2,280 5 DEC 2007 2,350 -82,880 1,864 -0.6
26 DEC 2012 6 MARINA BOULEVARD #XX-XX 861 2,415 21 DEC 2007 2,470 -47,355 1,832 -0.4
3 APR 2014 2 MARINA BOULEVARD #XX-XX 893 1,959psf 21 DEC 2007 1,787psf $153,596 2,295d 1.5%
from 2007 :scared-3:
Chasing falling knife :doh:Quote:
Originally Posted by phantom_opera
it this bay or city view ? :)Quote:
Originally Posted by phantom_opera
893 sqft is stack 9. Facing MBS. Marina Bay Suites. Totally blocked.
Quote:
Originally Posted by taggy
ic. thanks. :)Quote:
Originally Posted by thomastansb
its #40. very high chance it is NOT bay view.
Quote:
Originally Posted by taggy
THE SAIL @ MARINA BAY MARINA BOULEVARD Apartment 01 CCR 99 yrs lease commencing from 2002 1 1,560,000 614 Strata 61 to 65 2,543 May-14
Seems a new psf high for that size. Wonder if the seller make or lose money?
not a new psf high. seller lost money. http://forums.condosingapore.com/sho...postcount=2214
Quote:
Originally Posted by Learner
Thanks for the info. Looks like marina Bay Area prices also softening.Quote:
Originally Posted by bargain hunter
Row over alleged defects at Marina Bay condo The Sail to go to court
Jan 19, 2018
City Developments, main contractor of posh Marina Bay condo named as defendants in suit; hearing next month
Lynette Khoo
A bitter and long-running dispute between owners at posh condominium The Sail@Marina Bay and City Developments (CDL) over alleged defects will finally be heard in court next month.
The row has been festering for about four years, with owners pointing to a range of alleged defects at the 1,111-unit project, which received its temporary occupation permits in 2008.
The most serious and costly defect is said to be the rubbish chute system, which has resulted in residents having to put up with unpleasant smells. There have also been complaints about water leaks at the lift areas and burst underground water pipes that had to be repaired. In all, residents have forked out more than $1 million to rectify problems, with more to come.
The condominium's Management Corporation Strata Title (MCST) is holding an extraordinary general meeting on Saturday next week to seek owner approval to use $3.3 million from the sinking fund to replace the vertical section of the waste collection system.
It also wants consent to use up to $450,000 from the management fund for legal proceedings and another $100,000 to engage non-legal experts. Trial hearings are scheduled to be held on Feb 6.
The MCST's statement of claims alleges that "numerous defects have become manifestly apparent in the development and which demonstrate a failure to develop and/or construct the development in a good and workman-like manner with reasonable skill and care and/or to ensure that the development is reasonably fit for the purpose for which it was intended".
It also claims that CDL is in breach of contract against the original buyers and its duty of care to design and construct the development to "a reasonable, functional and safe standard", to ensure that it would be reasonably free of defects, and to maintain it in good condition before the handover of management and maintenance to the MCST.
CDL had earlier denied the claims but said yesterday that it was unable to comment further as it is an ongoing court matter.
Dragages Singapore - the project's main contractor - is also named as a defendant in the lawsuit. It has denied that it is liable for any alleged defects.
Both defendants have noted that The Sail@Marina Bay was awarded a high Construction Quality Assessment System score, an assessment of building quality by the Building and Construction Authority (BCA).
Its score of 94.8 per cent puts the estate among the top 10 per cent of all private housing projects in Singapore since 1988, CDL said in its statement of defence. The project also received an award for construction excellence from the BCA in 2010.
Meanwhile, CDL has fended off a separate legal dispute raised by owners of Shelford Suites, whose MCST filed a legal complaint against CDL and main contractor Tiong Seng Contractors last year.
Owners also claimed numerous defects but it is understood that the issues have been resolved.
Fight over defects at The Sail condo to be heard in court next month
Fri, Jan 19, 2018
Lynette Khoo
A LONG-RUNNING dispute between the owners of The Sail@Marina Bay and City Developments Ltd (CDL) over numerous alleged defects in the high-end condominium project will finally be heard in court next month.
The most serious and costly of the defects is said to be the condominium's rubbish chute system, which the residents claim has been emitting foul smells.
But, to resolve this issue sooner, owners may have to cough up their own money for now.
The condominium's Management Corporation Strata Title (MCST) is seeking owners' consent in an extraordinary general meeting on Jan 27 to use up to S$3.3 million from the sinking fund to replace the vertical section of the pneumatic waste collection system.
It will also seek consent to use up to S$450,000 from the management fund for legal proceedings and another S$100,000 to engage non-legal experts.
A writ of summons and statement of claim were filed by the MCST back in 2014, a year after owners mandated it to take the developer to task, with several letters of demand sent to CDL asking for the defects to be rectified.
The 1,111-unit development received its temporary occupation permit in 2008, but problems were said to have surfaced later on.
The dispute has dragged on for four years, with the trial hearings scheduled to be held on Feb 6.
Dragages Singapore, the main contractor for the project, is also named as defendant in the lawsuit.
When contacted, CDL said it is unable to comment further as this is an ongoing court matter.
Based on its statement of claims, the condominium's MCST is alleging that "numerous defects have become manifestly apparent in the development and which demonstrate a failure to develop and/or construct the development in a good and workman-like manner with reasonable skill and care and/or to ensure that the development is reasonably fit for the purpose for which it was intended".
Apart from the rubbish chute system, the residents have also complained about water leakage in the lift and escalator areas, and burst underground water pipes that have had to be repaired. In all, more than S$1 million has been coughed up by owners to rectify the numerous defects.
Among its key claims, the MCST alleges that CDL is in breach of contract against the original buyers and its duty of care to design and construct the development to "a reasonable, functional and safe standard", to ensure that the development would be reasonably free of defects, and to maintain it in good condition before the handover of management and maintenance to the MCST.
CDL has since denied the claims; concerning its duty of care, it denies that such duty was a "non-delegable duty" or cannot be delegated.
Main contractor Dragages Singapore also denies it is liable for any alleged defects.
Both defendants have pointed out that The Sail@Marina Bay was awarded a high Conquas or Construction Quality Assessment System score, an assessment of building quality by the Building and Construction Authority (BCA).
Its Conquas score of 94.8 per cent puts the development among the top 10 per cent of all private housing projects in Singapore since 1988, CDL said in its statement of defence.
The project also received an award for construction excellence from the BCA in 2010.
Meanwhile, CDL has managed to fend off a separate legal dispute raised by owners of Shelford Suites, the MCST of which filed a legal complaint against CDL and main contractor Tiong Seng Contractors last year. This case, in which owners also claimed numerous defects, has been resolved, BT understands.
The 77-unit project in prime District 11 was completed in 2011 and given a Conquas score of a 96.5 per cent - the highest score awarded for a private housing project that year, said CDL and Tiong Seng Contractors in their statement of defence.
Conquas, however, assesses workmanship of the project upon completion. It does not cover latent defects that may appear after the handover, said the BCA website.
Three-bedder at The Sail @ Marina Bay sold under the hammer for $2.43 mil
June 3, 2022
A three-bedroom unit at luxury condominium The Sail @ Marina Bay, along Marina Boulevard, was sold at a property auction by Edmund Tie on May 25. The property, a mortgagee sale, was sold to the highest bidder for $2.43 million ($1,850 psf), 0.8% below the guide price of $2.45 million ($1,866 psf).
The Sail @ Marina Bay is a 99-year leasehold development by City Developments and AIG Global Real Estate, located in District 1, at Marina Bay, which is part of the Downtown Core. Completed in 2008, the development comprises two towers — the 70-storey Tower 1 and 63-storey Tower 2 — which house a total of 1,111 residential units. Units consist of studios to four-bedroom units ranging from 592 to 2,185 sq ft. There are also penthouse units ranging from 3,391 to 6,297 sq ft. The condominium towers are connected to an eight-storey podium block.
The three-bedroom unit that was sold at the auction measures 1,313 sq ft and is located on the 60th floor. It was sold with vacant possession, on an as-is-where-is basis. The previous owner had purchased it for $3.45 million ($2,627 psf) back in September 2013.
https://i.imgur.com/ObLfU8Q.jpg
The unit’s living and dining area has floor-to-ceiling windows, offering expansive views of the CBD and the sea. Besides a master bedroom that comes with an en suite bathroom, there are two additional bedrooms and two common bathrooms. There is also a household shelter, located adjacent to the enclosed kitchen.
The Sail @ Marina Bay is a waterfront development adjacent to Marina Bay Suites, which together form part of the iconic city skyline of Singapore. Designed by NBBJ Architects, The Sail @ Marina Bay’s leisure amenities include a lap pool, spa/aqua gym pool, tennis court, pool terrace, exercise studio, gym, barbecue area and a pool deck. In addition, there are several restaurants on the first floor of the development.
There has been a total of 12 transactions at The Sail @ Marina Bay this year alone. The two most recent transactions happened on May 9: a 1,313 sq ft unit on the 18th floor was sold for $2.37 million ($1,801 psf); and another unit measuring 883 sq ft, located on the eighth floor, changed hands for $1.97 million ($2,230 psf).
The Sail @ Marina Bay is within walking distance of Downtown MRT Station (on the Downtown Line), and is also linked underground to the Raffles Place MRT Interchange Station for the East-West and North-South Lines.
Read more at: https://www.edgeprop.sg/property-new...y-sold-243-mil