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

The GCB at 2nd Ave possessed by the owner of collapsed company Hin Leong, Lim O.K plus his other half Tan Sook Eng, has already been fetched $Thirty Three point Thirty Nine mil.

It got acquired by Ng P.C, wife of Tan Y.K, the past Executive Chairman of Cogent Holdings, Straits Times ST.

Cogent Holdings has been delisted in 2K18, complying its $Four hundred Eighty Eight million acquisition by Cosco Shipping International (Singapore).

The Straits Times documented that the $Thirty Three point Three Nine million deal for the 19,984 square ft property formulates to $1thousand 6hundred 71 psf.

Dairy Farm Residences Floor Plan

“The buyer put up a front money yesterday and has actually not assessed if to reconstruct the house,” Mary Sai, ED of Capital Markets at Knight Frank SGP, the freehold real estate’s promoting and marketing agent, told The Straits Times.

The Bt Timah property, that is within a court-ordered possession freeze charge, was opened available by tender that closed on 30September.

Before the kick off of the tender, the real estate received a $31 mil offer. In ’20, it got mentioned that the GCB got its very first offer at $Twenty Seven mil.

The offer commence came as Hin Leong’s judicial managers-turned-liquidators– that in May2K20 obtained a Mareva command to suspend the assets of Lim family globally as high as a value of US$ Three point Five billion– would like the deal experience to remain “really clear and unconcealed to a big network of prospective buyers”, said Sai.

Steve Tay, Snr Partner VP of List Sotheby’s, detailed the $33.39 million proposal as “a good cost”.

“In current’s sector, 20thousand sq feet land plots which are selling lower than $Forty mil are constricted in inventory,” he mentioned as mentioned by The Straits Times.

This remains in sight of the $Eighty Six million procurement of a residential property among the neighboring Queen Astrid Park Good Class Bungalow area by Chew Shou Zi, the President of Chinese video-sharing app TikTok.

The amount equates to close to $2,704 psf based on the land size of roughly 31thousand 8hundred square feet.

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