?

Log in

No account? Create an account

March 27th, 2006

hmmmm...

Most of you would know that we've purchased an apartment not long ago and plan to move there sometime mid of this year. I'm only just started thinking abt how we should renovate the place. Both hubby and I were intending to do it up in a 'modern' resort style and I've been perusing through magazines to get some inspiration. Am actually quite excited about it..I fell in love with the aptment on first sight..the place itself was very well maintained and just renovated a few years back..The locale was great especially it's proximity to Holland Village and good schools and the development had fab amenities and huge wide spaces and beautiful landscaping!

Today, I heard something that may throw a spanner in the works..It's not exactly bad news. My boss, who's currently staying in that estate casually asked me when I will be moving in and whether I've started renovation works. When I told him, he said "I think you shouldn't spend too much on your reno first!". He told me that all the residents there had received a flyer. Apparently, the management commitee had received an enbloc offer but they felt it was too low and rejected it. BUT, in view of the recent enbloc fever going on, they are deciding to pitch the entire development to the big players and are somewhat optimistic that they could receive a decent offer for it. The site is marked as both a commercial and residential so there's huge potential. There will be a meeting sometime in July to update the residents on the status of the enbloc negotiations..

Hmm..i'm not exactly over the moon when I heard this..Yeah, there's potential for us to make some quick buck out of this and we would be considered quite fortunate to do so because we only signed the letter of offer in Dec last year. But I had been so looking forward to moving there. Well, it's not a guarantee that an enbloc will take place, especially since this is a huge estate with over 600 units and over 75% 80% of the residents need to give their go ahead. Apparently, many of the residents may not be willing to move out of the place due to sentimental reason..Also, where else could one find such a spacious place at that amount in such a great location so I can understand why some prefers to stay put. Enblocs are tough to negotiate and it can take years to complete so by then, the craze would have passed.

Oh well, not sure what to do now. I guess we probably will wait for more info before we officially move over. Actually, even if the enbloc doesn't work out, I'll be really fine with it 'coz I really do love the place and it fits well with our future plans (a good school nearby for Aidan)..


Site Meter