Tuesday, February 28, 2012

Grange Road site tipped for collective sale

Straits Times: Tue, Feb 28
ONE of the largest residential sites in Grange Road could hit the market if talks between home owners and the United States Embassy are successful.

Spring Grove - on the site of the former residence of the US ambassador - is being considered for collective sale, although the process is likely to prove difficult due to the complex nature of the estate's ownership.

The 24,481 sq m plot was acquired from the US government by City Developments more than 20 years ago and developed into a 325-unit condominium.

It has a 99-year lease that started on Dec 1, 1991. Ownership will revert to the US government - which has freehold rights to the estate - at the end of that period...

To find out more, kindly join us at Real Estate Digest

Team Marshe
Martin Koh/ Sherry Tang
9383-3992/ 9844-4400

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