Watermark - Hong Leong Holdings (Freehold/999yrs)
Watermark ("WM")
Hi all,
Just want to get some feedback on your views for this Project. I tried to do a quick search for previous threads on this but not very successful (though results returned do include threads which mentioned the word "Watermark", but it appears a specific Watermark thread was not really set up. This said, I could have missed it as I was just looking very quickly).
Believed WM TOPed about 8 months now and understand most of the units have been tenanted out - apparently at very low rates as the owners were all trying to lease it out during the Feb - March period. I went to see a number of units and most of them have a similar characteristics as follows:-
1. Unit has a tenancy agreement in place, most of them has at least another 1.5 years to go.
2. Most of the rentals was signed at a ridiculously low price. One of the prime river front unit entered into a 2 + 1 (option at the discretion of tenant) year tenancy agreement at SGD3.4psf/mth!! . Understand that agreement has no excess for all repairs. For each and every replacement item, owner has to pay from the 1st dollar onwards. Several other terms are also not fantastic for owner. Understand this is not specific to this unit but also exist in some other units agreement.
Like this development but the rental in place seems to be more of a liability/punitive punishment rather than an asset. Any views??
Wanted: Watermark units for multiple purchase
Dear all,
My clients from overseas are coming to Singapore on Mid October to invest in private residential properties. Watermark is one of their choice condo.
Their requirements are as follows:
1) 2 bedrooms or smaller;
2) Regular shaped interior;
3) Attractive pricing;
4) Floor Plan required;
5) Interior photos provided will be wonderful
Call me at +65-92993342 or email property details including floor plan & interior pictures to [email protected] before Thursday, 8 Oct 2009 3pm.