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

The GCB at 2nd Ave possessed by the owner of folded away company Hin Leong, Lim O.K and his spouse Tan Sook Eng, has already been offered for $33.39 million.

It got obtained by Ng Poh Choo, spouse of Tan Yeow Khoon, the ex- Executive Chairman of Cogent Holdings, Straits Times ST.

Cogent Holdings has actually been delisted in ’18, after its $488.07 million procuration by Cosco Shipping Int’l (S’pore).

Straits Times indicated in which the $33.39 million proposal for the 19thousand 9hundred 84 sq ft property formulates to $One thousand Six hundred Seventy One per sq foot.

“The prospective buyer deliver a deposit yesterday but has actually not determined if to rebuild the residential property,” Mary Sai, Exec Dir of Capital Markets at Knight Frank S’pore, the freehold residential property’s advertising rep, shared with Straits Times.

Penrose Floor Plan

The Bt Timah home, which is under a court-ordered property suspend charge, was released for sale by tender that concluded on 30September.

Prior to the open of the offer, the property was given a $31 million offer. Previous yr, it was reported that the GCB obtained its first offer at $Twenty Seven million.

The offer kick off came as Hin Leong’s judicial managers-turned-liquidators– that in May2K20 received a Mareva command to freeze the assets of Lim household globally as high as a valuation of US$3.5 bil– wanted the deal procedure to remain “apparent and highly clear to a big network of home buyers”, claimed Sai.

Steve Tay, Senior Partner Vice President of List Sotheby’s, portrayed the $33.39 mil proposal as “a fair price”.

“In nowadays’s industry, 20thousand square feet land parcels that are supplying lower than $Forty mil are constricted in supply,” he mentioned as cited by The Straits Times.

This is simply in view of the $Eighty Six mil procurement of a property among the nearby Queen Astrid Park GCB zone by Chew S.Z, the Chief Executive of Chinese video-sharing application TikTok.

The amount converts to almost $2thousand 7hundred 4 psf depended on the land surface area of about Thirty One thousand Eight hundred square foot.


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