Princess' Flats

Princess' Flats comprised 24 units of apartments, and four 'rag stores' owned by the developer. The development was sold en bloc at $15.5 million.

Phang & Co acted for the en bloc owners. We applied to the authorities for notional share values for the 24 apartments. No notional share value was allocated to the developer for the 'rag stores'.

Queen's Flats and Princess Flats are the only two developments which have been sold en bloc, without the developers being able to share in the collective sale proceeds by reason of their ownership of the land.