Originally Posted by
DW
Dear Belvedere,
Congratulations on your new purchase. I have been thinking about getting something in Belvedere for some time but pending some final due diligence. In respect, I wonder if you can share your views on the same, given you have probably satisfied yourself on the same - would be grateful if you can kindly advise.
I have made a couple of enquiry on Belvedere and from preliminary discussion from a number other investors, I understood this was one of the most controversial investment which Keppel Land (the developer) made and it was almost by sheer luck they managed to get away with this (or what it appears to be the case). I understand this was what seems to be a mistake on the developer whom back then purchased the land, not knowing there is/was another plot of land in front which could potentially block off Belvedere’s view completely (and potentially also block part of SeaFront). I am under the impression that a number of buyers was sold the idea that the plot of land immediately next to Belvedere was actually a Park (which, apparently, is not the case), and I believe most owners and prospective buyers continue to be under this belief still (which seems to be rather shocking!!).
I attached extract of the Master Plan 2008 (annotated) which is widely circulated amongst the investor community whom are looking at buying Belvedere and SeaFront. This will have an impact on our views on the the risk of another development to be developed in front of Belvedere, which is not unlikely at all!!
I wonder if anyone here can confirm the same or shed some light on this?