Charming Garden launches third collective sale attempt, owners maintain $175 mil asking price

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Charming Garden launches third collective sale attempt, owners maintain $175 mil asking price
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The condo first attempted a collective sale in December 2022, targeting $175 million for the property. (Picture: Colliers)SINGAPORE (EDGEPROP) - The owners of Charming Garden, a 999-year leasehold condominium at 138 and 140 King’s Road, have launched a collective sale tender for the property. According to a press release by Colliers, the marketing agent, on June 21, the owners are sticking to a guide price of $175 million.The condo first attempted a collective sale in December 2022, targeting $1

The condo first attempted a collective sale in December 2022, targeting $175 million for the property. , a 999-year leasehold condominium at 138 and 140 King’s Road, have launched a collective sale tender for the property. According to a press release by Colliers, the marketing agent, on June 21, the owners are sticking to a guide price of $175 million.

“Following the second tender close, an Extraordinary General Meeting was called, and the resolution to reduce the reserve price from $175 million was passed. We are getting the owners to sign the Supplemental Collective Sale Agreement for a lower reserve price,” says Tang Wei Leng, managing director and head of capital markets and investment services at Colliers Singapore.

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