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Bayshore Park Print E-mail
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Details:
Address: 50 – 66 Bayshore Road
Type: High Rise Condominium
Developer: Ocean Front Pte Ltd
District: 16
Yr of Completion: 1986
Tenure: 99 years
Total no of Units: 1093
Unit sizes:
Studio: 58 – 69 sq m
2 bedrooms: 87 – 100 sq m
3 bedrooms: 109 – 120 sq m
Penthouse: 309 – 353 sq m
Bayshore Park
Facilities:
Swimming pool
Gymnasium
Sauna
Tennis
Squash
BBQ
Clubhouse
Mini-mart
Playground
Covered car park
24 hours security



Comments (6)
RSS comments
1. Written by News on 05-05-2008 17:17
 
 
En bloc impossible
On the en bloc sale potential, Savills Singapore director (marketing and business development) Ku Swee Yong noted that at least $2 billion each would be needed to buy Bayshore Park - a tall order even when the market is good. ‘With the current market, the sale is impossible,’ he said.
 
2. Written by News on 05-05-2008 17:12
 
 
En-bloc system needs relook
IF THE Government still thinks the current laws under the Building Maintenance and Strata Management Act and the Land Titles (Strata) Act (Amendment) are sufficient to regulate the issues of collective property sales, this tale of two condos may provide food for thought, especially as the Government has invited feedback on these laws. 
 
On April 27, Bayshore Park and Mandarin Gardens both held annual general meetings. These two estates, with more than 1,000 units each, sit on 1 million sq ft of land next to the sea. 
 
Both have got a collective sale initiative off the ground, with sale committees elected. With the support of pro-sale residents, voting powers are then used to control the rest of the estate, even though the votes represent only a minority of residents. Let me illustrate: 
 
In Bayshore Park, the pro-sale group outvoted other residents on crucial issues and in selection of council members. Averaging 60 per cent of votes cast at the AGM, this roughly 20 per cent of residents (as only 30 per cent of owners were represented at the AGM) voted down a proposed increase in maintenance charges in line with current inflation, voted for a lower increase in the sinking fund, voted down crucial replacement of copper pipes in the common corridors and voted down any exploration of corridor upgrading. In addition, they voted for a reduction in council seats to nine, making sure four sale committee members were voted into the council, and ensured that four of the five previous council members retained had exhibited pro-sale inclinations. They made sure two previous council members who did not favour sale were not re-elected. I was one of the two. 
 
At Mandarin Gardens, in a similar vein, the pro-sale camp mustered enough proxy forms to control 65 per cent of the votes in the AGM. They defeated a motion to reduce water ponding of walkways and lift lobbies to improve safety, and passed a resolution to reduce management council (MC) expenditure limits from $300,000 to $50,000 making it almost impossible for the MC to function. Consequently, the incumbent council refused to stand for re-election. Even more devastating, the pro-sale camp fielded no candidates for council. Hence, no council was elected. 
 
The law was not broken at either AGM. However, many of us affected are sure the law was not designed to produce such outcomes. 
 
Augustine Cheah
 
3. Written by News on 27-02-2008 18:16
 
 
Frequency of En Bloc sales
Why frequency of en bloc sales isn’t regulated 
 
IN HER letter, ‘Restrict frequency of costly en bloc EGMs’ (Feb 8), Madam Mona Liew Tan Lee suggested imposing a restriction on the frequency of extraordinary general meetings (EGMs) to consider a collective property sale. 
 
This was considered in the public consultation last year on changes to the collective sale provisions in the Land Titles (Strata) Act. The proposal was not adopted as it would mean, even if market conditions are favourable and most owners want to embark on another attempt at a collective sale shortly after a previous attempt, they will be prevented from doing so. 
 
Although there is no restriction on frequency of EGMs, holding an EGM requires the agreement of a minimum number of owners. 
 
We assure Madam Liew we are monitoring the effect of the new legislation and will make further changes where necessary. 
 
Radha S. Khoo (Ms) 
Head, Corporate Communications Ministry of Law
 
4. Written by Mona Liew on 21-02-2008 17:49
 
 
Costly en bloc EGMs
Each meeting costs $15,000; depletes management funds 
 
THE process of calling for extraordinary general meetings (EGMs) for the purpose of an en bloc sale can be abused because of a legislative loophole. 
 
Over the past five months, three such costly meetings have been held in my condominium estate, Bayshore Park, in a bid to form a collective sales committee. 
 
The first, which was held on Sept 29 last year, was void because it did not follow the new law for collective sales. At that time, the pro-tem sales committee did not heed the prudent advice to wait for the new law which was about to be enforced. The committee went ahead and held the EGM under the old law. As a result, almost $15,000 of our management and sinking funds was spent wastefully. 
 
The second meeting, on Jan 12 this year, was cancelled as a quorum in share value could not be reached on time. Again, $15,000 more from our funds was expended. 
 
To my dismay, a request for a third meeting was submitted to the Management Committee four days after the second was cancelled. The third meeting is now scheduled to be held on Saturday. Guess what: We will have to use $15,000 more from the funds to organise the meeting. 
 
I do not know if this meeting will succeed. But I am quite certain that if it fails, yet another attempt will be made to hold a fourth, draining even more money from our fund. 
 
Under the current law, there are no restrictions on the frequency with which such meetings for the appointment of a collective sales committee can be requested. As a result, residents of condominiums like mine are exposed to a virtually endless stream of EGM requests. These threaten to deplete a condominium’s management and sinking funds. 
 
Private estates like Bayshore Park need help from the Government and the Strata Titles Board to regulate the frequency of requests for such meetings in the bid by some to form a sales committee. 
 
Please set a reasonable guideline for the frequency with which these meetings can be called. 
 
I understand that laws for en bloc sales must remain flexible to allow property owners to take advantage of the opportunities that may arise in the property market. But the property market doesn’t change as dramatically as the frequency with which such meetings were called in my estate. 
 
I hope the Strata Titles Board will address this legislative loophole, to protect our management and sinking funds, and prevent the deterioration of the maintenance and value of our homes.
 
5. Written by News on 15-01-2008 01:13
 
 
How many times more?
Condo’s residents want to stop repeated en bloc efforts, will seek Prof Jaya’s help 
 
YET another attempt to put Bayshore Park on the en bloc market has been nipped by poor attendance, and residents who are not interested in selling are fed up with the repeated efforts. 
 
They now want to consult Law Minister Prof S Jayakumar - who is also their Member of Parliament (MP) - during a Meet-The-People session. 
 
The meeting on Saturday to form an en bloc sales committee for the East Coast condominium could not proceed as a quorum of 30 per cent was not fulfilled. 
 
This is the second time an attempt to start an en bloc movement in the 1,100 unit Bayshore Park has been thwarted.
 
6. Written by News on 24-12-2007 16:18
 
 
En bloc again?
Bayshore Park, on Singapore’s East Coast, is in the process of forming a new sales committee after it had to disband the original one because of the new ruling. 
 
A group of opposing residents had sent a lawyer’s letter to the old committee challenging its constitution and its validity under the amended Act. 
 
Developments at the 21-year-old condominium - which is over 1 million sq ft in size - is keenly watched by marketing agents and developers alike because of its prime sea-front location and vast land area.
 

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