Stop order imposed on Cairnhill Mansion en bloc sale

It was previously sold for $362m.

The Strata Title Board (STB) issued a stop order against the en bloc sale of 69 Cairnhill Road, Cairnhill Mansions and 67 Cairnhill Road, buyer Low Keng Huat (Singapore) Limited (LKHS) said.

According to an announcement, STB issued a stop order on 2 July 2018 in respect of the application by the collective sale committee of Cairnhill Mansions (CSC) for a sale order approving the collective sale of Cairnhill Mansions.

The CSC will be submitting an application to the High Court in due course within 14 days from the date of Stop Order for a Sale Order to be granted, LKHS said.

Cairnhill Mansion was sold en bloc for $362m on 14 February 2018. About 5% of the consideration price has been paid to the vendors of the property.

Pursuant to the contractual terms of the proposed acquisition, the owners of Cairnhill Mansions have five months from the date of the stop order (up to 2 December 2018) to obtain the sale order from the High Court.