Teresaville Owner's Blog

  EOGM on Feb 28, 2021 Contribution from one of the fellow owners of Teresa Ville Dear Fellow owners of Teresa Ville, Like many of you, I attended zoom EOGM on Sunday, February 28, 2021. I would like to share some of my reflections and observations. 1.       Unproductively long Meeting and Leaving things to the Last day :   While the meeting was well organized with almost no technical glitch, it went on for too long (5 + hours ). Some owners proposed amendments to the fee structure and terms of Collective Sale Agreement (CSA), but the CSC chairman refused to adopt any of the suggestions and proposals from the owners. It would have saved our time, if the CSC chairman could have clarified in his opening remarks, that since Feb 28, 2021 was the last date of the mandate of Collective Sales Committee, there was no time and scope to make any amendments to the CSA, and the engagement of the property agent and law firm. Hence, any discussion, sugge...

  Teresa Ville, Our Home Dear Fellow Teresa Ville SPs, Following compilation is a contribution from one of our fellow SPs. While it beautifully summarises credentials of Teresa Ville and the privileges of living in this rare Freehold estate at a choice location; it also provides research based valuable insights to help fellow SPs understand the deserving value of our condominium.  Author has complied the slides in a video format. You may chose to watch it in its flow, or move the slider manually for quick browsing. We however, recommend that you watch the whole presentation till the end.    Thank you. PS:  Our sincere thanks to the author for this valuable contribution.   

  What are enbloc sales?   Some people view enbloc sale or collective sale of a real estate development as if it is the best thing to come along since the invention of white sliced bread. However, there are more than one perspective on this subject.   Enbloc sale is about a group of owners in a development who wants to sell their individual strata units at a price that is higher than what they can achieve individually. This is only possible if the redevelopment value of the land is higher than the sum of the resale price of all the strata-units in the development.   However, in the enbloc sale process, they must persuade and cajole a large majority the owners to sell their homes at the reserve price that is initially decided by the Collective Sale Committee.   The rest of the objecting owners, if they number less than twenty percent of the owners, are submitted to the tyranny of the majority.   In most residential enbloc sales, the prope...

Greetings,   Teresa Ville Residential & Commercial Unit Owners.. Dear Fellow SPs of Teresa Ville, Greetings and Happy New Year. You may recall, this Blog was created by an independent group of  Teresa Ville Owners in mid 2017 with objective of -   a)     building a community of fellow SPs and  b)      presenting an easy to access platform for sharing – ·        important insights and key findings, ·        views and concerns, ·        experiences and suggestions regarding then proposed En-bloc initiative. Teresa Ville Owners could also post relevant information, facts and figures which helped make more informed collective decision, as the En-bloc process progressed.  Keeping the same objective, we are pleased to re-activate this blog, as the En-bloc initiative has once again started with proposed EOGM in Feb 2021. T...

Following contribution is from a fellow SP in response to an unsigned anonymous letter received recently.  Published below without any edit or moderation.    (1) Teresa Ville is our home Recently, some residents and owners in Teresa Ville received letters from an unknown person who did not sign off the letter. This person is trying a last ditch attempt to persuade owners of Teresa Ville to sign the current CSA (Collective Sale Agreement). The writer seems to find a lot of faults with Teresa Ville. He wrote that Teresa Ville is not near the MRT station, not near a shopping mall, it is old, etc… If the writer has so much complaints about Teresa Ville, it is better for him to move out of Teresa Ville. (2) Hutton’s extra commission that’s unfair to all SPs No matter what the writer wrote, he did not attempt to address the unfair contract that gives the agent, Hutton, extra commission at the tune of hundreds of thousands of dollars above what wa...

Contribution from one of the SPs.... (Source - EdgePro Singapore) Higher risks for collective sales post the property cooling measures with some developments facing High Court proceedings while others could see developers backing out. Developments awaiting High Court proceedings, largely due to objections on grounds of the sales committee not having acted in good faith, include Brookvale Park in Sunset Way, The Wilshire, City Towers in Bukit Timah and Katong Park Towers in Mountbatten. This is on top of earlier reported cases such as Goodluck Garden on Toh Tuck Road and Cairnhill Mansions. Other developments have extended their sales periods including Horizon Towers, Katong Plaza, Dalvey Court and Lakeside Apartments, while yet others have relaunched at a lower reserve price, such as Windy Heights, Sutton Place and Pinetree Condominium. Several deals remain in limbo, for example, on the Hollandia en bloc sale, the buyers, an 80/20 JV between Far East Consortium and Koh Broth...