Located on Kent Ridge Park, towards its edge, and providing gorgeous views of the sea, the Vista Park is a Singapore condo with great potential, offering no less than 209 units. The developer that will choose to invest in this area, will easily be able to come up with a residential area that will present a beautiful nature theme, due to the lush green environment that surrounds the Park. While the owners plan on organizing a tender for a collective sale, some voices claim that they could get a 60% higher profit if they would opt to sell their units separately instead.
The choice of the owners may have been driven by the latest increasing trend when it comes to collective sales. The Vista Park is the 5th condominium that opened a collective sale tender after 4 more did the same in the case of their developments just a few days ago. The owners of the Park aim to get the sum of $350 million, which means that each of the condominium’s owners would get anywhere between $1.16 million and $3.5 million if they do manage to sell it for this sum. But the profit would be significantly higher if they would choose to sell the units individually, putting in their pockets sums that could be 60% higher than their initial estimates and hopes.
But the fever of the collective sales is not about to end very soon, as two more developments are in plan to join in. We are talking about Kismis View and Brookvale Park, already reaching a requisite approval in a proportion of 80% from their current owners. Concerning Vista Park, the company taking care of the sale, Teakhwa Real Estate, is confident that the surroundings of the condominium will weigh a lot in the process, being the main attraction of the estate. The new development that will occupy this area in the future could easily be based on nature-themes and wellness concept, due to the fact that the area is surrounded by lush vegetation. Another major attraction point will certainly be the Pasir Panjang MRT station, which is just 7 minutes away from the condominium. Having all these in mind, plus the estate’s convenient location on a hill and its great potential, the managing director of Teakhwa Real Estate, Mr. Sieow Teak Hwa, is confident that there will be quite a few developers interested in purchasing the Vista Park.
Offering 319,250 square feet and another 61 years on its lease, the Vista Park could accommodate a number of 530 apartments, if one apartment would have around 800 sq. ft., in a building that could have up to 5 stories. With a tender closing on the 13th of December, we’ll have to wait and see if the hopes of the owners will become a reality after all.
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