{"id":72075,"date":"2017-11-17T10:08:03","date_gmt":"2017-11-17T03:08:03","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/tai-wah-building-sold-en-bloc-for-84-9mil\/"},"modified":"2017-11-17T10:14:10","modified_gmt":"2017-11-17T03:14:10","slug":"tai-wah-building-sold-en-bloc-for-84-9mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tai-wah-building-sold-en-bloc-for-84-9mil\/","title":{"rendered":"Tai Wah Building sold en bloc for $84.9mil"},"content":{"rendered":"


\nTai Wah Building, a four-storey building along Killiney Road, has been sold to private equity investment firm Lucrum Capital Pte Ltd for $84.9 million, revealed marketing agent Edmund Tie & Co.
\nThis works out to around $2,209 psf per plot ratio.
\nCompleted in the mid-1980s, the freehold building comprises two shops and six apartment units.
\nThe site, which was zoned \u201cresidential with commercial at first storey\u201d, has a land area of around 1,221.5 sq m (13,148 sq ft).
\nEdmund Tie & Co noted that Lucrum Capital plans to redevelop the site into a serviced apartment with commercial use on the first storey.
\nIn fact, it has already submitted an application for such use which has received in-principle approval from the authorities.
\nAs such, Lucrum Capital can redevelop the site up to its existing gross floor area of 3,568.81 sq m (about 38,414 sq ft), exceeding the permissible plot ratio of 2.8 as indicated in the 2014 Master Plan, but subject to authorities\u2019 approval, it said.
\n\u201cThis is a unique and rare acquisition that allows us to plan and execute imminent and exciting real estate trends, and yet the new asset will complement existing bustling business activities in the immediate vicinity,\u201d said Lucrum Capital.
\nNotably, Tai Wah Building is strategically situated in the heart of the Orchard Road shopping belt, near Somerset MRT Station.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Tai Wah Building sold en bloc for .9mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tai Wah Building, a four-storey building along Killiney Road, has been sold to private equity...<\/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-72075","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-iKv","jetpack-related-posts":[{"id":68554,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tai-wah-building-for-sale-at-81-million\/","url_meta":{"origin":72075,"position":0},"title":"Tai Wah Building for sale at $81 million","date":"October 9, 2017","format":false,"excerpt":"\r Built in the 1980s, Tai Wah Building comprises six apartments and two shops. (Photo: Edmund Tie & Company) The freehold Tai Wah Building at Killiney Road has been launched for collective sale after obtaining consent from all the owners, marketing agent Edmund Tie & Co. said on Monday (9\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43485,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/33-bournemouth-road-up-for-sale-by-auction\/","url_meta":{"origin":72075,"position":1},"title":"33 Bournemouth Road up for sale by auction","date":"February 9, 2017","format":false,"excerpt":"\r The property could be redeveloped into two semi-detached homes or rebuilt into a bungalow. (Photo: Edmund Tie & Co.) 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