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PROPERTY owners at the Golden Mile Complex who have failed twice to sell the property collectively are trying again - using a novel but risky backdoor approach.
A group of them have chosen, for now, to avoid obtaining the usual approval from owners of 80 per cent of the 705-unit mixed development in Beach Road required in collective sales.
Instead, they hope to persuade a number of owners there, as well as those at the Golden Mile Tower next door, to appoint a property agent to sell their individual offices, apartments or shops.
Exceptionally high reserve prices
THE group is dangling exceptionally high reserve prices to tempt owners into selling.
The property agents... are promising to scout for offers of no less than $1,300 psf for apartments and offices.
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