Leonie Hill Residence 3Bedroom For Rent

Leonie Hill Residence 3Bedroom For Rent

3 bedroom 1389sqft asking 2600psf
Tenanted till 04/08 $5k Rental

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

The Bayshore Ground floor 2 bedroom For Rent

The Bayshore Ground floor 2 bedroom
Rental 2.9k Available first week of Sept
2 yrs lease

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

HDB Blk 165 Stirling Rd For Rent

HDB Blk 165 Stirling Rd
1+1 Available 1st Oct
Owners prefer Indian expats
2 yrs lease Rental 1.3k

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

The Bayshore @ Bayshore For Sale - District 15 - 16

The Bayshore @ Bayshore For Sale - District 15 - 16

3 bedroom 1248sqft
Ground floor, well kept
Asking 860k nego

The Bayshore

DESCRIPTION / DETAILS

Address: 22 - 34 Bayshore Road
Type: Condominium
Tenure: 99 years
District: 16
Units: 1,038
Year of Completion: 1999
Developer: Bayshore Park Pte Ltd (Far East)
Unit sizes:
2 bedrooms: 86 - 95 sq m
3 bedrooms: 110 - 125 sq m
4 bedrooms: 113 sq m
Penthouse: 192 sq m

The Bayshore is located at Bayshore Road, directly opposite the newer Costa Del Sol. Before Costa Del Sol is built, The Bayshore enjoys beautiful panoramic sea view. But most of the units are now blocked by Costa Del Sol, which resembles a huge white curtain.

The Bayshore has won several international FIABCI Prix’D Excellence Award for its renowned architectural designs. It has beautiful foliage that resembles a Spanish Mediterranean styled resort.

The East Coast park and beaches is directly across the expressway. This condo is within 5 minutes drive to the airport and 15 minutes to the city. There is also a shuttle service to Raffles Place in less than 25 minutes. The Bus Plus green bus comes into condo to pick up executives.
FACILITIES AT THE BAYSHORE
Swimming Pool
Children pool
Fun pool
Jacuzzi pool
Sauna
Grand clubhouse
Function room
Playground
Tennis courts
Golf driving range
Putting green
BBQ
Games room
Billiard room
Karaoke room
Gymnasium
Reading room
24 hours security
Covered car park
Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

Hilltop Grove for sale -District 22-24

Hilltop Grove for sale -District 22-24

2 plus Study. High Ceiling
Face Pool, Beautiful
Don’t Miss
Asking 700k nego

Hilltop Grove

Country : Singapore
Property Address : D23 Hilltop Grove
Property Type : Private Condominium
Property District / Estate : D22 - 24 (West)

Property Description : LIFE WILL NOT BETTER THAN THIS!! Imagine waking up to the fresh air, rays of sun, seeing the morning dews on every single leaflets..mm.. What a nice way to your every mornings!! This is the home you can always dreamt of.. This very sought after cosy 2 bedroom faces the Bukit Batok Hill greenery which gives you that “GetAway” kind of feeling after a hard day work.. And I am sure you will not get this kind of feel from anywhere… A Must View home before you decide any of your choice apartments
Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

Yishun Emerald @ Yishun For Sale -District 25 - 28

Yishun Emerald @ Yishun For Sale -District 25 - 28

4 bedroom 1378sqft Unblocked
High Fl, Windy Asking 750k

Yishun Emerald

DESCRIPTION / DETAILS

Address: Canberra Drive
Type of Development: Condominium
Tenure: 99
District: 27
Year of Completion: 2002
No. of units: 436
Developer: Yishun Land Pte Ltd

Yishun Emerald is located at Canberra Drive, in the heart of Yishun and Sembawang housing estate. It is about 15 minutes walk to the Yishun MRT Station, wet market and eating outlets. There is also a string of public buses just outside the development.

Yishun Emerald is surrounded with a scenic setting of lush foliage of tropical plants, cascading waterfalls and a free-standing clubhouse that overlooks the spacious landscaped environment.
It is a traffic-free drive to the American School from Yishun Emerald, which takes less than 10 minutes by the Seletar Expressway (SLE). Many amenities can be found in the Yishun Central which consists of library, supermarkets, hawker centre, fast food restaurants, polyclinic, cinemas and many other shops. Orchid Country Club, The Golf Academy are also within short driving distance.
FACILITIES AT YISHUN EMERALD
Swimming Pool

Children’s play pool

Club house

Gymnasium

Multi-purpose room

Spa

Jogging-track

Bbq pit

Tennis courts

Children’s playground

Putting green

NEAREST MARKETS / FOOD CENTRES

Yishun Industrial Food Centre
1001 Yishun Industrial Park A Singapore 768743
How Far? 0.36 km

Yishun Ring Road Block 105 Food Centre
105 Yishun Ring Road Singapore 760105
How Far? 0.79 km

Yishun Ring Road Block 104 Market
104 Yishun Ring Road Singapore 760104
How Far? 0.79 km
Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

The Callista For Sale -District 12 - 14

The Callista For Sale -District 12 - 14

3 bedroom, 1149sqft
High floor Face pool
Asking 820K

The Callista

DESCRIPTION / DETAILS

Address: 22 Mar Thoma Road
Type of Development: Condominium
Tenure: 999
District: 12
Year of Completion: 2006
No. of units: 87
Developer: Evansville Investments Pte Ltd

The Callista is a 999-year leasehold residential development comprising 87 units of 1-, 2- and 3-bedroom apartments. Designed with the theme of ’sophistication within simplicity’, The Callista features a sleek facade and efficiently laid-out interior spaces.

There is also an impressive array of recreational facilities in The Callista, including an infinity-edge swimming pool lined with a row of ‘floating’ stones, spa, indoor gym, outdoor fitness station and BBQ pits.

Centrally located within the established St. Michael private residential estate, The Callista is minutes away from the Central Business District (CBD) and Orchard Road. It is also a short distance away from the Boon Keng MRT Station.

The Callista LOCATION / STREET MAP
FACILITIES AT THE CALLISTA
Swimming Pool

Jacuzzi

Spa

Indoor Gym

Outdoor Fitness

Bbq Pits
Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

Gardens @ Bishan For sale - District 20

Gardens @ Bishan For sale - District 20

1830sqft Ground floor with Big patio
3 bedroom, beautiful
Asking 1.15m

The Gardens at Bishan

DESCRIPTION / DETAILS

Address: 1, 3, 5, 7, 9 Sin Min Walk
Type of Development: High Rise condominium
Tenure: 99 years
District: 20
No. of Units: 756
Year of Completion: 2004
Developer: First Garden Development Pte Ltd
Unit sizes:
Studio: 88 sq m
2 bedrooms: 80 – 126 sq m
3 bedrooms: 107 – 170 sq m
4 bedrooms: 141 – 243 sq m
Maisonette: 157 – 255 sq m

Introducing The Gardens At Bishan - a place that merges the privileges of condominium living together with the grandeur of Europe. The Gardens At Bishan comprises 756 units, spreading over 4 blocks of 20-storey condominium units. The Gardens at Bishan is an inspiration from the design of the gardens in Europe. It is a charming landmark that stands out in the heart of Bishan.

It’s hard to imagine the enchantment and the enduring beauty of Europe, until you’ve seen it for yourself. Now, inspired by the famous gardens of Europe, we proudly welcome you to a development that authentically captures the majesty and splendour of all that is exquisitely European.

You can take a short feeder bus ride to the Junction 8 Shopping Centre and Bishan MRT station. Thomson Plaza, Singapore Island Country Club are within 5 minutes drive away. Residents can use the Central Expressway (CTE) and Pan Island Expressway (PIE) to travel to different parts of the island.

FACILITIES AT THE GARDENS AT BISHAN
Swimming pool
Gym
Sauna
Playground
BBQ
Fitness track
Clubhouse
Tennis
Squash
Covered car park
24 hours security

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

Parc Emily @ Mt Emily For Sale -District 09 - 10

Parc Emily @ Mt Emily For Sale -District 09 - 10

Duplex/3 bedroom
Low floor. Asking 1650psf

Ground fl Asking 1350psf
3 bedroom 1195sqft

Developers CDL and TID Pte Ltd
Location No. 5-15 Mt. Emily Road, District 9
Type 21 story Freehold exclusive apartment with balconies overlooking panoramic seaview
No. of Units 295 units of 5 blocks of 8-storey apartments comprise of 1,2,3 & 4 bedrooms & duplexes
Facilities Lap pool
Jacuzzi spa
Children’s pool
Children’s playground
Clubhouse
Reflective & interactive pool
Exeercise area
BBQ pit
Changing room
24 hours security guard
Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

City Square Residences For Sale @ District 01-08

City Square Residences @ District 01-08

Many units available
Studio/2/3/4 rooms
Low to High floor
Asking from 1000psf

Name : City Square Residences
Developer : City Developments Ltd
Tenure : FH
TOP : 12/2009 expected
Property Type : CONDO
District : 8

Unit Info:(City Square Residences)

Total Units: 910 in two towers
1 Room: 53 sq.m above (570 sq.ft. above)
2 Rooms: 78 to 121 sq.m. (840 to 1302
sq.ft.)
3 Rooms: 111 to 170 sq.m. (1195 to 1830
sq.ft.)
4 Rooms: 139 to 141 sq.m. (1496 to 1518
sq.ft.)
Facilities:(City Square Residences)

Swimming pool
2-lane bowling alley
BBQ
Fitness Area
Tennis Court
Playground
Putting Green

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

Belvedere @ Meyer For Sale- District 15-16

Belvedere @ Meyer - District 15-16

Highest floor! 3bedroom
1302sqft Stack 4
Seaview
MUST SELL!!! Asking 2000psf
Good investment!

Fact

BELVEDERE @ MEYER RD - Singapore District 15-16
PROPERTY TYPE: APT
LOCATION: MEYER RD
DISTRICT: 15
POSTAL CODE: 437874
DEVELOPER: SHERWOOD DEVELOPMENT PTE LTD
TENURE: FH
EST. TOPDATE: 2008
TOTAL UNITS: 167
Internal Features
WARDROBE - YES
KITCHEN - YES
AIR-CONDITIONING - YES
FLOORING FOR BEDROOM TIMBER STRIP FLOORING
WITH TIMBER SKIRTING
FLOORING FOR LIVING/DINING MARBLE FLOORING
WITH TIMBER SKIRTING
Unit Area
PENTHOUSE 2411 - 2573
3 BED ROOM 1238 - 1593
2 BED ROOM 1012 - 1206
Facilities
SECURITIES YES - FITNESS AREA YES
GYMNASIUM YES - LANDSCAPED GARDEN NO
WADPOOL YES - MPH NO
SWIMMING POOL YES - BARBECUE AREA YES
CLUB HOUSE YES - TENNIS COURT YES
SQUASH COURT NO - PLAY GROUND NO
JACUZZI NO - CAR PARK YES
Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

Watermark @ the Robertson For Sale District 09-10

Watermark @ the Robertson For Sale District 09-10

PENTHOUSE 3 bedroom
1862sqft Asking 1700psf
TOP soon

FACT SHEET

Rectangular block of 10th storey development with shops on the ground floor fronting the river. Full facilities except tennis/squash court.
Developer : Hong Leong Properties
Total Units : 206
Highest Floor : 10th
Sizes : 2 to 4 bedrooms with shops (see site plan below)
Expected TOP : March 2008
Current prices : S$1600 - 1800 psf

FACILITIES

Reading verandah
Rock garden/mist fountain
Tea deck
Steam room
Lounge/gym
Children’s pool
Lap pool
Jacuzzi
“Rainwater” shower deck
Pavilion
Koi pond
Putting green
Children’s playground
BBQ area
UNITS AVAILABLE FOR SALE

Various units of different sizes 2, 3, 4 room cum penthouses that gets updated from time to time.
Pls contact me for currently available units & price updates.

Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

The Elements @ Steven For Sale District 09-10

The Elements @ Steven For Sale District 09-10

PENTHOUSE 3+1 with own private swimming pool
2379sqft Asking 1550psf
Don’t Miss!!! Good investment!!!

FOUNDATION : Reinforced concrete bored
piles
SUPERSTRUCTURE : Reinforced concrete
framework
WALLS : a) External Wall - Common Clay
Bricks and/or reinforced concrete
framework
b) Internal Wall - Common Clay Bricks
and/or reinforced concrete framework
ROOF : Flat Roof - Reinforced concrete
roof with waterproofing and insulation
CEILING : a) For Apartment - 1)
Living/dining, bedrooms, Utility/Household
Shelter and yard
Skim coat or plaster ceiling board with
emulsion paint or box-ups to designated
areas

2) Kitchen, Bathrooms
Water resistant plaster ceiling board with
emulsion paint

FINISHES : WALL
i) For Apartment - 1) Living/dining,
bedrooms, utility/household shelter
Cement and sand plaster with emulsion
paint

2) Kitchen
Homogeneous tiles or plaster with
emulsion paint on exposed surfaces only

3) Master bath and bath 1
Ceramic and/or homogeneous tiles up to
false ceiling and on exposed surfaces only
2) For Common areas - 1) Internal Wall
Finishes
Cement sand plaster with emulsion paint
Lift lobbies, corridors, staircases and
landings
Cement and sand plaster with emulsion
paint
2) External wall finishes
Cement and sand plaster with emulsion
paint and/or stone tiles

FLOOR

i) For Apartment

: 1) Living/dining: Homogeneous tiles
2 ) Bedroms: Timber strip with timber
skirting. Cement and sand plaster with
emulsion paint to bay window ledge.
3 ) Master bath and bath 1:
Homogeneous tiles and/or granite tiles to
sunken bath
4) Utility / household shelter: Ceramic
and/or homogeneous tiles
5) Kitchen/yard: Homogenous tiles
2) For common area
: 1) 1st storey lift lobby: Granite tiles or
equivalent
2) Lift lobbies and corridors: Granite tiles
or equivalent

WINDOWS : Bedrooms, kitchen:
Aluminium framed windows with clear or
frosted glass, where applied, with or
without fixed glass panels.
DOORS : a) Entrance - Approved fire
rated timber door with selected veneer
finish
b) Living/dining to Balcony

- Aluminium framed glass door
c) Bedrooms, Bathroom - Plywood flush
door with selected veneer finish

d) Household Shelter - Metal door as
approved by relevant authority
Selected quality lockset and ironmongery
shall be provided to all doors

IRONMONGERY : Main Entrance door and
other doors. Good quality imported
lockset.
SANITARY FITTINGS : Master bathrooms
2 wall hung basins and mixer taps
1 sunken bath with bath mixer
1 shower compartment with shower mixer
and hand shower (except Type C and D
units)
1 rose shower head (except Type C and D
units)
1 pedestal water closet
1 glass shelf 1 mirror
1 toilet roll holder
1 towel rail

Bathroom 1
1 awll hung basin and mixer tap
1 sunken bath with bath mixer (except
Type C) and/or 1 shower compartment
with concealed shower mixer and hand
shower with 1 rose shower head
1 pedestal water closet
1 glass shelf
1 mirror
1 toilet roll holder

Yard
Bib tap
ELECTRICAL INSTALLATION : a) Please
refer to electrical schedule for details.

TV/FM/Telephone : Refer to electrical
schedule.
PAINTING : a) External Walls : Emulsion
finish
b) Internal Walls : Emulsion finish/spray
textured coating and/or paint
WATERPROOFING : Waterproofing shall
be provided to floors at swimming pool,
kitchen, bathrooms, yards, planter boxes,
roof terrace and reinforced concrete flat
roof
DRIVEWAY & CARPARK : Reinforced
concrete with floor hardener for
basement driveway and carpark

RECREATION FACILITIES : Refer to facilities

ADDIONAL ITEMS : 1) Waredrobes
Waredrobes to all bedrooms

2) Kitchen cabinets
Design kithen with high and low level
cabinets with cooker hob, cooker hood,
built-in oven and sink.

3) Air-conditioning
Ducted air conditioning to living/dining
and wall mounted split unit air-
conditioning systems in all bedrooms

4) Hot water supply
Hot water storage heater to serve all
bathrooms and kitchens

Notes
a) Marble & Granite : Marble and granite
are natural stone materials containing
veins with tonality differences. There will
be colur and markings caused by their
complex mineral composition and
incorporated impurities. While such
materials can be pre-selected before
installation, it is not possible to achieve
total consistency of colour and
appearance for the entire flooring or
other surface where the marble or granite
is laid. Granite tiles are pre-polished
before laying, and care will be taken in
their installation. Hence some differences
may be felt at the joints. The colour,
tonality, and pattern of the marble or
granite selected and installed shall be
subject to availability.
b) Timber : Timber are natural materials
containing veins and tonality differences.
Thus, it is not possible to achieve total
consistency of colour and grain in its
selections and installation.
c) Warranties : Where warranties are
given by the manufacturers and/or
contractors and/or suppliers of any the
equipment and/or appliances installed by,
the Vendors at the * Unit/Building, the
vendor shall assign to the Purchaser such
warranties at the time with possesion of
the *Unit Building is delivered to the
purchaser.
d) Wardrobe, Kitchen Cabinets & Fan Coil
Units : Layout / location of wardrobes,
kitchen cabinets and fan coil units are
subject to Architect’s sole discretion and
final design.

e) Wardrobes, Kitchen Cabinet, Fan Coil
units, Electrical points and plaster ceiling
boards

: Layout/location of kitchen cabinets,
wardrobes, fan coil units, electrical points
and plaster ceiling board are subject to
Architect’s sole discretion and final design.
f ) Brand and model : The choice of brand
and model of the fittings, equipment and
appliances supplied shall be subject to
availability.

g) Air-conditioning : The air-conditioning
system has to be cleaned and maintained
regularly, tio ensure that it is in good
working condition. The purchaser is
advice to engage his own contractor to
service the air-conditioning system
regularly.
Singapore Real Estate - Buy , Sell , Rent ,invest Singapore Property
Buy, sell and rent Singapore real estate: private property, residential apartments, commercial and industrial properties. HDB flats for sale and rental. Foreign investors, buyers, tenants or relocating expats can easily find their ideal landed house, bungalow, semi-d, terrace, condominium, townhouse, private apartment, HDB, HUDC, office, shop, factory, warehouse & land right here.

Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com

Horizon owners have 2 weeks to decide their fate

Horizon owners have 2 weeks to decide their fate
Majority sellers seek individual legal advice in face of potential lawsuit
By MICHELLE QUAH
(SINGAPORE) Two weeks - that’s all the time the majority sellers of Horizon Towers now have to find a way to salvage the botched collective sale of their development.

Horizon Towers poser: The sellers need to decide if and how they should revive the pact with the buyers
If they fail to do so - by the ominous deadline of Sept 11 - each of the 255 owners who signed off on the en bloc sale, along with the sales committee members, will be sued for some $4 million each.

Faced with such a prospect, each majority seller is now understood to be seeking individual legal advice as to how to defend himself against the lawsuit.

Collectively, the sellers also need to decide if and how they should revive the agreement inked with the intended buyers - Hotel Properties (HPL), Morgan Stanley Real Estate-managed funds and Qatar Investment Authority - for the sale of Horizon Towers.

This comes as HPL and its partners make good on their threat to sue the majority sellers for failing to hold up their end of the deal.

Documents obtained by The Business Times show that the majority sellers, represented by Tan Rajah & Cheah, had received a letter last Thursday from HPL’s lawyers, Allen & Gledhill (A&G). The letter alleged that the sellers are in breach of their agreement, for failing to ‘do everything in their power’ to obtain a collective sales order from the Strata Titles Board (STB) approving the sale of Horizon Towers.

STB had on Aug 3 thrown out the sellers’ application for a collective sales order, on the grounds that it was defective. STB said the sellers had failed to include certain documents in their application and, hence, failed to comply with requirements laid out by the law. The board’s decision meant the en bloc sale of Horizon Towers could not be completed by the agreement deadline of Aug 11.

HPL and its partners then asked the sellers to extend the en bloc sale completion deadline by four months - to Dec 11 - during which time, they wanted the sellers to appeal the STB’s decision and file a fresh application for a new sales order, if necessary.

The sellers said they needed time to consider what steps they should take - but have not reverted since.

The lack of response has now prompted HPL and its partners to take action. ‘Our client is not prepared to wait indefinitely for (you) to extend the (deadline),’ A&G’s letter to the sellers said.

HPL and its partners commenced proceedings in the High Court on Thursday, declaring that the majority sellers are in ‘repudiatory breach of contract’. The buyers are demanding that the sellers extend the original deadline and ‘do everything necessary to obtain the collective sales order’.

HPL and its partners have given the sellers until Sept 11 to do so - failing which, they would sue each of the sellers, for a total of between $800 million and $1 billion. With more than 255 owners - of 173 units who agreed to the sale - being named as defendants, it means each of them could be sued for up to $4 million each.

But should the sellers do as demanded - and a collective sales order is eventually obtained - HPL and its partners will honour their end of the bargain, that is, they will buy the 99-year leasehold Horizon Towers for a total of $500 million.

For their part, the majority sellers have denied allegations that they breached the sales agreement. They have also refused to extend the deadline by four months. But, they have appealed to the High Court to review the STB’s decision.

The sellers, however, declined to say what their next move would be.

Some sellers whom BT spoke to said they would now be reviewing the various options ahead of them, and seeking legal advice as to how to defend themselves against the lawsuits they each face. They will meet on Sept 7 to discuss their fate.

The majority sellers - who make up some 84 per cent of the owners of Horizon Towers - had in February agreed to sell the development en bloc to HPL and its partners.

The $500 million price tag would have meant that the owners of the 199 apartments would have pocketed about $2.3 million each and the owners of the 11 penthouses at least $4 million each.

Still, it’s believed some of the sellers later regretted agreeing to the en bloc sale, when the likes of The Grangeford estate nearby sold subsequently for more than double the Horizon Towers price, on a per sq ft basis.

Some minority sellers - those who didn’t agree to the sale - also filed their objections to the sale, on various grounds.

It was after listening to some of the objections filed that the STB decided not to grant the collective sales order.

The minority sellers are not being sued, since they did not ink the sales agreement with HPL and its partners.

Source : Business Times - 27 Aug 2007

Singapore Property - Buy , Sell , Rent , Invest
Mindy Yong
(+65)91002985
mindy@mindyyong.com
http://www.hotvictory.com