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KSH Holdings Limited, TEE International Limited and Heeton Holdings Limited, through their subsidiaries, plan to establish a joint venture to redevelop the Sam Leong Mansion site, along with Futuris Holding Pte Ltd and ZAP Piling Pte Ltd.
The 12,362.45 sq ft freehold land parcel was acquired by KSH Property Premier Pte Ltd for $40.3 million via a collective purchase tender.
It has a plot ratio of approximately 3.0 and is zoned for redevelopment into a commercial development. Based on the maximum gross floor area of about 37,087.36 sq ft, the purchase price works out to roughly $1,086.84 psf per plot ratio.
The group plans to redevelop the property, subject to obtaining all the necessary approval from the relevant authorities.
(Business Times)
The 12,362.45 sq ft freehold land parcel was acquired by KSH Property Premier Pte Ltd for $40.3 million via a collective purchase tender.
It has a plot ratio of approximately 3.0 and is zoned for redevelopment into a commercial development. Based on the maximum gross floor area of about 37,087.36 sq ft, the purchase price works out to roughly $1,086.84 psf per plot ratio.
The group plans to redevelop the property, subject to obtaining all the necessary approval from the relevant authorities.
(Business Times)
