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Chancery HIll
This project involved the tendering of three adjoining freehold bungalows, which were sold together under VestAsia's advisory. The sale was an executor sale, and all the proceeds were given to charity.
Location
Size
Chancery Hill Singapore
32,148 sq. ft.
The Challenge
The sale had to be transparent, with full accountability by the executors. It also needed to be completed within a reasonable timeline without incurring any costs for the executors. The primary objective was to achieve the highest possible price.
How we helped
To overcome these challenges, we provided advice and assistance to the executors, guiding them to engage an international real estate agency to conduct the tendering process for the adjoining freehold bungalows. The timing of the tender was perfect and the response from buyers was overwhelming. The properties were recommended to be combined for potential redevelopment, with options such as creating a housing development comprising a mix of terrace, semi-detached or cluster housing, or alternatively, constructing a large, good class bungalow for a super high net worth individual to build own home.
As a result, the client was able to achieve more than $10 million more than what could be achieved if the 3 houses were to be sold individually.
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