Raffles town club parking

[13177]

On 11/20/2023 at 11:01 PM, Blueray said:

the club sits on 30-year land. not sure if members were aware of that when they bought the membership.

Even the club sits on a 30 year land, members might think that the lease might extend for the club to continue operate?!

[Blueray]

On 11/21/2023 at 9:26 AM, 13177 said:

Even the club sits on a 30 year land, members might think that the lease might extend for the club to continue operate?!

not sure if there was any option for +30 years in the original lease and also, i don't think the company is obligated to continue club operations for the members' benefit after 2026. 

even if there was an option for +30 years, the extension would be quite pricey. lust time there no MRT, now got MRT which is interchange station. 

[ER-3682]

On 11/21/2023 at 9:26 AM, 13177 said:

Even the club sits on a 30 year land, members might think that the lease might extend for the club to continue operate?!

SRC just Re-New its 30 Years Lease,paid something like $17 Millions to SLA...each Member forked out $2,500.

[13177]

On 11/21/2023 at 9:34 AM, Blueray said:

not sure if there was any option for +30 years in the original lease and also, i don't think the company is obligated to continue club operations for the members' benefit after 2026. 

even if there was an option for +30 years, the extension would be quite pricey. lust time there no MRT, now got MRT which is interchange station. 

Seems like they are aggressively developing residential even for BTO along bt timah area. The old turf club will be gone soon and now Raffles Town club also same.

[serenade]

It will be interesting to hear whether RTC must return the site in original condition where the existing building has to be demolished and the masonry junked. If yes, then the club must cease operations earlier than expiry date. The owners have to fork out money to demolish and clear up. 

[Jamesc]

All the Hoo-hah about being

founder members!

 

[107fan]

On 11/21/2023 at 10:29 AM, ER-3682 said:

SRC just Re-New its 30 Years Lease,paid something like $17 Millions to SLA...each Member forked out $2,500.

So if want to renew is can, just pay lor

[107fan]

Wow Stevens is really in need of a new condo right?

 

You can drive from Newton Flyover all the way to the Botanics Garden/Far East flora entrance and every single building left and right are condos. Still not enough? This is madness.

Edited November 21, 2023 by 107fan

[Watwheels]

All these clubs are just outdated. Ask yourself who goes to the turf club and country clubs?

 

[ER-3682]

On 11/21/2023 at 1:50 PM, 107fan said:

So if want to renew is can, just pay lor

I don't think SLA allow Raffles Town Club to Re-New their Lease....SRC is allowed because the Club already at that place since 1887...got Rich History.

[13177]

On 11/21/2023 at 1:51 PM, 107fan said:

Wow Stevens is really in need of a new condo right?

 

You can drive from Newton Flyover all the way to the Botanics Garden/Far East flora entrance and every single building left and right are condos. Still not enough? This is madness.

They no say will build condo le. Maybe going to build HDB there. 😅

[13177]

On 11/21/2023 at 2:09 PM, Watwheels said:

All these clubs are just outdated. Ask yourself who goes to the turf club and country clubs?

 

Think got la, those retired rich people like to go to these turf club and country club to eat.

[inlinesix]

On 11/21/2023 at 2:36 PM, 13177 said:

They no say will build condo le. Maybe going to build HDB there. 😅

Be prepared to see increase in GST if build HDB

[107fan]

On 11/21/2023 at 2:36 PM, 13177 said:

They no say will build condo le. Maybe going to build HDB there. 😅

I think no chance to ever see a Stevens HDB.

[Sdf4786k]

On 11/21/2023 at 7:46 AM, RadX said:

So this is not like that other case where they sold and then there was a payback......wah..big time loss

I think even for the HSR line for Jurong also no kangtao...

[ER-3682]

On 11/21/2023 at 6:50 PM, 107fan said:

I think no chance to ever see a Stevens HDB.

If HDB built there..all the Condos & Landed Properties there..Value drop 30%.

[Mkl22]

On 11/21/2023 at 4:20 PM, 107fan said:

I think no chance to ever see a Stevens HDB.

Hdb will be in areas you never thought of. The current thinking is better integration of society. 

[Kar_lover]

On 11/21/2023 at 11:26 AM, serenade said:

It will be interesting to hear whether RTC must return the site in original condition where the existing building has to be demolished and the masonry junked. If yes, then the club must cease operations earlier than expiry date. The owners have to fork out money to demolish and clear up. 

Most likely will have to cos the next proposed use will be completely different so they need to start from the ground up. If RTC doesn't pay then the next person needs to pay. Reinstatement cost can easily reach 6 figures.