There are three stages to selling Park West collectively after the 80% has been obtained (stage 0). Those are (1) Awarding the tender to the highest bidder. (2) Receiving the order of sales, which means the en bloc of Park West is approved by the authorities, and (3) SPs providing vacant possession of the unit to the developer.
Below is an estimate of the duration of each of these stages. They will be updated periodically as we become more certain of events as they unfold.
Stage 3 approximate timeline as at 15-Jan-2019. An explanation of the abbreviations (PAFS, PP) and the terms “SLA lease top-up” and “SLA In-principle Approval” can be found in the glossary. The Sales and Purchase Agreement for the collective sale of Park West only requires the SLA IPA to be given.
After completion, up to 6 months for vacant possession
After completion of the sale, SPs have up to 6 months to move out of Park West and provide the developer with vacant possession of the unit.