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Author: leahlim   |   Latest post: Fri, 3 Apr 2020, 3:10 PM

 

Four-bedroom unit at The Grange to be auctioned in sheriff’s sale

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SINGAPORE (EDGEPROP) - A 2,293 sq ft, four-bedroom unit at The Grange – in prime District 10 – will be put on the block by Colliers International on Feb 27. The freehold property will be sold in a sheriff’s sale. This means the property has been repossessed by the High Court, who has appointed Colliers to auction it. The proceeds will likely go towards satisfying the owners’ debts. According to Colliers, the indicative price will only be disclosed on the day of the auction to ensure a fair and transparent auction.
Steven Tan, senior director of capital markets at Colliers International, says: “The subject property is a sheriff’s sale and the sale is subject to High Court approval, unlike an owner’s sale, where the seller usually hopes to sell the property at as high a price as possible. In this instance, as it is a sheriff’s sale, it is likely that the price is competitive.”
 
 
 
 

 

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