Tea & Info Session on En-bloc on July 1, 2018 ..

Dear fellow owners of Teresa Ville (who have not signed CSA).

As you are aware, it has been almost a year since the start of the enbloc process at Teresa Ville, when the first EOGM was held in July 2017. According to the latest figures on the notice boards, the SPs collectively owning only 54.49% of total share value of Teresa Ville have signed the CSA.

You may also have noticed that the CSC and pro-CSC supporters have been trying to push you to sign the CSA using all types of tactics, including trying to spread fear of higher maintenance costs, shrinking sinking fund and the exaggerated impact of the upcoming DTSS (Deep Tunnel Sewerage System) project, etc. Unauthenticated rumours of various kinds are also being used.

In order to address and shed light on key issues and share important insights on the enbloc sale process at Teresa Ville, we invite you to a Tea & Info Session where some of our fellow SPs who have relevant experience and expertise in the real estate industry and seasoned business professionals will share the latest updates, research and clarifications.

Proposed topics to be covered in the Tea & Info Session:

• Demystify the fear mongering by CSC and their ‘so called’ expert, regarding insufficient Sinking Fund.
• Demystify the distorted and exaggerated rumours regarding impact of Deep Tunnel Sewerage System.
• Demystify the rumours that ‘property prices will fall by at least 25% after enbloc fever ends. Hence, you should sell now, rent a home to stay and buy later’.
• Price of a replacement home: What kind of home your enbloc sale money can really buy.
• Explore the mystery of why the CSC is not amending CSA to reflect revised Reserve Price (RP) and examine Lee & Lee’s reply to an owner’s simple question: “Can the CSC lower the Reserve Price, on advice from Huttons, at a later date?”
• Why the CSC is not correcting the wrongly structured fee of Huttons in the CSA, which will cost the Teresa Ville owners an additional $2.2 million if the enbloc sale is transacted.
• Who should pay for the PAFS (Traffic Impact Study), which may cost tens of thousands of Dollars.
• Why Hutton is not giving the right advice on the RP, which has changed twice, starting from $850M to $990M to $1.1B. Why they are not advising on real re-development value of this rare Freehold land.
• Recent property price trends and why $1.2B is a reasonable reserve price for Teresa Ville.

Tea and light refreshments will be served

 RSVP: Please reserve your seat by sending your name, building & unit number to 9134 5119 by WhatsApp or email us at teresavilleowners@gmail.com    

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Please Note:

This is a private session to share key insights with fellow SPs of Teresa Ville who have not signed the CSA, so that they can make a more informed decision with regard to the enbloc sale process of Teresa Ville.  Only invited SPs will be admitted. The organizers reserve the right to request those who cause undue/ unproductive disruption or inconveniences to others, to leave the room. The session will be video recorded to ensure civility.

About the organisers:

We are a group of fellow owners and residents of Teresa Ville from diverse backgrounds, including investors, families with young children, retirees, etc. We are not against an enbloc sale, but are concerned by the unauthenticated rumours, fear mongering and the lack of transparency and balanced discussion on important issues that can contribute to a higher valuation for Teresa Ville. We believe that the current Reserve Price in the CSA undervalues Teresa Ville, a rare freehold asset in a central location.

Thank you for your attention and support.

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