I can understand that it is the right approach for the sentosa condo to generate publicity and interests, because they try to package it like a high-end project launch with a 40% lelong component. However I am bewildered why their management allows the industrial property agent to do so. With both announcements back-to-back, are u trying to tell investors that your company is really desperate, or rental yields cannot cover the cost-of-funds (interests)?
Imagine you want to offload multiple units in the same estate, are you sure you want the property agent to shame you by distributing flyers, telling the neighborhood that you got to run road?
Doing so, likely translate to stronger bargaining power for seller and lower selling price. It says a lot about the management's judgement call. CDL is not Oxley. If the management approved such shaming, it hinted that the property agents' priority was to get a buyer; securing a good price was secondary.
CDL's 97 freehold industrial properties should be offloaded discretely or staggered, eg. UOL is also trying to sell multiple freehold units in CSI Distribution Center, but they will only offload a few units each time.
