Owners of Savoy Court in Mid-Levels are planning to put their flats up for sale, making it the ninth old building in the district to attempt a collective sale since the middle of last year. Terence Tong, a director at Centaline Property Agency, is one of the residents at Savoy Court. 'The residents' committee has held a meeting on the issue. Some of the owners are interested in selling the flats jointly,' he said. 'The committee discussed appointing Centaline to handle the tender a few months ago. But we have to wait until all of the owners agree to sell their flats. It is difficult to estimate when the property will be up for tender,' Mr Tong said. Under the existing law, once 90 per cent of owners agree to sell, a developer can apply for a court order to sell the remaining ownership. Savoy Court, located at 101 Robinson Road, was built in 1977. The 12-storey residential block has 24 units with an average size of 2,500 square feet. Mr Tong said about 70 per cent of flat owners so far had agreed to sell their properties. But the owners did not reach an agreement on revenue sharing and the asking price. 'The asking prices of the building range from $6,000 to $9,000 per sq ft in the secondary market,' Mr Tong said. Jade Garden near Savoy Court was put up for tender last year. However, aggressive asking prices and insufficient ownership made developers hesitate and offer a conservative price. Eleven per cent of the owners did not agree with the price on offer. The individual flat owners of Merry Court, Minerva House, Carol Mansion and other properties located at Babington Path are also planning collective sales. Merry Court has appointed Jones Lang LaSalle to handle the tender.