{"id":112888,"date":"2019-12-05T11:14:42","date_gmt":"2019-12-05T04:14:42","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/doctor-buys-geylang-condo-in-26-million-en-bloc-sale\/"},"modified":"2019-12-05T12:04:16","modified_gmt":"2019-12-05T05:04:16","slug":"doctor-buys-geylang-condo-in-26-million-en-bloc-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/doctor-buys-geylang-condo-in-26-million-en-bloc-sale\/","title":{"rendered":"Doctor buys Geylang condo in $26 million en bloc sale"},"content":{"rendered":"


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\nKwong Wai Shiu Hospital, the owner of Leshan Gardens\u00a0condominium in Geylang, has sold the freehold property en bloc to an unnamed ear, nose, throat specialist for $26.28 million on a 104-year lease, reported The Business Times.
\nThe price, which\u00a0includes a $2.35 million development charge, works out to around $623 per square foot per plot ratio (psf ppr).
\nSituated at 1 Lorong 32 Geylang, the 16,412 sq ft, freehold residential development consists of 38 residential units spread across one four-storey and one eight-storey block. Unit sizes range between 1,044 sq ft and 1,173 sq ft.
\nWhile Leshan Gardens is on a freehold site, Kwong Wai Shiu Hospital had carved a 104-year leasehold interest for the sale.\u00a0The property\u2019s reversionary interest will be owned by Kwong Wai Shiu Hospital.
\nThe 20-year-old development is zoned for residential use with a plot ratio of 2.8 under the 2014 Master Plan and the recently gazetted 2019 Master Plan, which means that the site could be redeveloped into a new project with a maximum gross floor area (GFA) of around 45,955 sq ft.
\nWant to live in this bustling district? Browse\u00a0all homes available for sale\/rent in Geylang on PropertyGuru
\nAccording to the GFA guidelines by URA, and assuming an average unit size of 85 sq m (approx 915 sq ft), the site can yield up to 50 residential units upon redevelopment. This is based a release by Knight Frank Singapore, the marketing agent for Leshan Gardens. The development was launched for sale through a tender exercise in mid-July.\u00a0
\nKwong Wai Shiu Hospital granted the doctor an option to purchase in September, which the latter exercised in November.
\nOne of the oldest charitable institutions in Singapore, Kwong Wai Shiu Hospital was founded by a group of Cantonese merchants in 1910 with the aim of providing free medical services to poor immigrants.
\nRECOMMENDED ARTICLE: 12 Seriously Cheap Freehold Condos under 600k
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
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\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
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\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Doctor buys Geylang condo in million en bloc sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Kwong Wai Shiu Hospital, the owner of Leshan Gardens\u00a0condominium in Geylang, has sold the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-112888","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tmM","jetpack-related-posts":[{"id":120521,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/geylang-development-up-for-collective-sale-for-27mil\/","url_meta":{"origin":112888,"position":0},"title":"Geylang development up for collective sale for $27mil","date":"July 14, 2021","format":false,"excerpt":"\r Located at 8 Lorong 35 Geylang, the eight-storey Baode Building is a residential development\u00a0that is going for $27 million. Source: Google Maps Baode Building, an eight-storey residential development at 8 Lorong 35 Geylang, has been put up for collective sale with an indicative price of $27 million, revealed Colliers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/BAODE-BUILDING.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113987,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wing-fong-mansions-and-wing-fong-court-in-geylang-for-sale\/","url_meta":{"origin":112888,"position":1},"title":"Wing Fong Mansions and Wing Fong Court in Geylang for sale","date":"January 31, 2020","format":false,"excerpt":"\r \u00a0 Wing Fong Mansions in Geylang has been put up for collective sale by PropNex Realty with a S$176 million reserve price, reported The Business Times. At least 80% of Wing Fong Mansions\u2019 owners have consented to an en bloc sale, revealed Richard Hau, lead property consultant for PropNex\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113445,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/green-court-up-for-en-bloc-sale-with-28m-reserve-price\/","url_meta":{"origin":112888,"position":2},"title":"Green Court up for en bloc sale, with $28m reserve price","date":"January 7, 2020","format":false,"excerpt":"\r The three-storey commercial and residential development comprises three ground floor shops as well as six two-storey walk-up apartments on the second level. Green Court, a freehold mixed-use development situated along Geylang Road, is up for en bloc sale. The owners are expecting offers above their $28 million reserve price,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98207,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-condo-yuen-sing-mansion-up-for-collective-sale-at-17m\/","url_meta":{"origin":112888,"position":3},"title":"Freehold condo Yuen Sing Mansion up for collective sale at $17m","date":"September 20, 2018","format":false,"excerpt":"\r The reserve price works out to around $753 psf ppr after taking into account the 10 percent bonus balcony space and development charge. (Photo: JLL) Yuen Sing Mansion, a four-storey residential development at Nos. 6A \u2013 10C Geylang Lorong 13, has been put up for collective sale, with the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123813,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/baode-building-up-again-for-collective-sale-price-unchanged-at-27mil\/","url_meta":{"origin":112888,"position":4},"title":"Baode Building up again for collective sale, price unchanged at $27mil","date":"December 15, 2021","format":false,"excerpt":"\r Located at 8 Lorong 35 Geylang, Baode Building sits on an 11,102 sq ft site near Paya Lebar MRT station and a cluster of malls including PLQ Mall, Paya Lebar Square and Singpost Centre. Source: Google Maps Baode Building at 8 Lorong 35 Geylang is up again for collective\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/BAODE-BUILDING.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":68042,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-buys-freehold-sites-in-geylang-for-33-5m\/","url_meta":{"origin":112888,"position":5},"title":"Roxy-Pacific buys freehold sites in Geylang for $33.5m","date":"October 3, 2017","format":false,"excerpt":"\r RH Guillemard has entered into agreements to purchase freehold residential sites at 2 and 6 Guillemard Lane. (Photo: Google Maps) Roxy-Pacific Holdings subsidiary RH Guillemard has entered into agreements to acquire freehold residential sites at 2 and 6 Guillemard Lane in Geylang for a total of $33.5 million. 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