A couple of condominium blocks that did not have a successful closure the last time is trying for en bloc sales again, only this time with much lower asking price.
JLL marketing agent confirms working for both Flynn Park and Choon Kim House.
The minimum price for Flynn Park is $363.8 million for a 72-unit freehold development off Pasir Panjang Road.
Since the cooling measures in July, owners are aiming to get more sign-ups for an 80 percent mandate from the current 75 percent, lowering the asking price to $325 million.
Following the of $24.5 million estimated development charge, the initial reserve price is now at $1,331 (psf ppr) per square foot per plot ratio.
The project will be set for $1,198 psf ppr in case enough owners would approve the lower asking price.
There were no buyers during the closing of the first tender in June 2018.
The total measurement of Flynn Park is 208,443 sq ft with 1.4 allowable GPR (gross plot ratio).
Its location is close to the Canopy Walk and Pasir Panjang MRT. It is a lofty boardwalk connecting Hort Park and Kent Ridge Park.
January 29 at 3 PM is the schedule for the current tender closing.