Laguna Park sets $1.48b price tag in 3rd bid to go en bloc

East Coast property obtains 80% mandate months ahead of deadline

With 58 years left on its 99-year lease, owners of the 528-unit former HUDC estate reached the 80 per cent mandate about two months ahead of a Sept 30 deadline, and are launching its tender sale on Sept 18.
With 58 years left on its 99-year lease, owners of the 528-unit former HUDC estate reached the 80 per cent mandate about two months ahead of a Sept 30 deadline, and are launching its tender sale on Sept 18.ST FILE PHOTO

Laguna Park in East Coast is trying its luck at the collective sale lottery for a third time with a reserve price of $1.48 billion, joining a number of mega sites that remain undeterred by the latest round of property cooling measures.

With 58 years left on its 99-year lease, owners of the 528-unit former HUDC estate reached the 80 per cent mandate about two months ahead of a Sept 30 deadline, and are launching its tender sale on Sept 18, collective sale committee chairman Tony Sum said.

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A version of this article appeared in the print edition of The Straits Times on September 12, 2018, with the headline 'Laguna Park sets $1.48b price tag in 3rd bid to go en bloc'. Subscribe