OK Lim’s GCB At Second Avenue Sold For $33.39mil

The Good Class Bungalow at 2nd Ave possessed by the owner of folded away firm Hin Leong, Lim O.K including his spouse Tan Sook Eng, has recently been fetched $33.39 million.

It gotten by Ng P.C, spouse of Tan Yeow Khoon, the previous EC of Cogent Hldgs, reported ST.

Cogent Holdings has actually been taken out from list in 2K18, following its $Four hundred Eighty Eight million acquisition by Cosco Shipping International (S’pore).

The Straits Times mentioned in which the $33.39 mil proposal for the 19,984 square feet home pulls off to $1.671K psf.

“The buyer hand over a down payment yesterday although has not opted whether to rebuild the home,” Mary Sai, ED of Capital Markets at Knight Frank SGP, the freehold residence’s marketing rep, told ST.

Pollen Collection Floor Plan

The Bt Timah residence, which is beneath a court-ordered possession hold up order, was released for sale by tender that ended on 30September.

Before the launch of the offer, the house received a $31 million offer. In ’20, it got disclosed that the Good Class Bungalow obtained its very first deal at $Twenty Seven mil.

The tender release happened as Hin Leong’s judicial managers-turned-liquidators– that in May’20 got a Mareva order to freeze the assets of Lim family across the world as much as a value of US$ Three point Five billion– desired the transaction system to remain “very clear and open to a diverse connection of homebuyers”, mentioned Sai.

Steve Tay, Senior Partner Deputy President of List Sotheby’s, defined the $Thirty Three point Three Nine mil offer as “a good rate”.

“In current’s sector, Twenty thousand square feet land parcels which are selling lesser than $Forty million are constricted in quantity,” he mentioned as quoted by Straits Times.

This remains in sight of the $Eighty Six million acquisition of a residential property within the neighboring Queen Astrid Park GCB area by Chew S.Z, the Chief Executive of Chinese video-sharing app TikTok.

The price translates to near $2.704K per sq ft depended on the acreage of roughly 31,800 square feet.

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