SINGAPORE – Faced with the cooling collective sale market, Minbu Villa, a freehold residential development in Novena, is going up for tender again at S$145.8 million, but could see the reserve price lowered if 80 per cent of the owners agree.
This time, more than 60 per cent of the owners by share value and strata area have signed a supplemental agreement to lower the reserve price to S$129.1 million, translating to a land rate of S$1,200 per sq ft per plot ratio (psf ppr). The site has a land area of 38,426 sq ft, and a gross plot ratio of 2.8. Completed in 1981, the 10-storey development comprises 33 apartments and a penthouse …..