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

The GCB at 2nd Avenue owned by the originator of collapsed business firm Hin Leong, Lim O.K including his better half Tan Sook Eng, has already been yielded $Thirty Three point Thirty Nine mil.

It gotten by Ng Poh Choo, other half of Tan Y.K, the ex- EC of Cogent Holdings, Straits Times ST.

Cogent Holdings has been taken out from list in 2018, complying its $4hundred 88.07 mil possession by Cosco Shipping Int’l (S’pore).

The Straits Times indicated in which the $33.39 million proposal for the 19,984 sq feet home calculates to $1.671K psf.

“The investor provide a down payment yesterday but has not decided on whether or not to renovate the residence,” Mary Sai, Exec Dir of Capital Markets at Knight Frank S’pore, the freehold house’s marketing rep, advised Straits Times

The Bt Timah real estate, which is beneath a court-ordered property freeze instruction, was opened available by tender that ended on 30Sept.

Ki Residences Floor Plan

Just before the introduce of the offer, the real estate was given a $31 mil proposal. In ’20, it was revealed that the Good Class Bungalow got its first offer at $27 million.

The tender commence happened as Hin Leong’s judicial managers-turned-liquidators– who in May2K20 secured a Mareva charge to suspend the properties of Lim household throughout the world as much as a worth of US$ Three point Five billion– required the transaction procedure to remain “open and really transparent to a broad web of bidders”, pointed out Sai.

Steve Tay, Senior Associate Vice President of List Sotheby’s, explained the $Thirty Three point Three Nine million deal as “a good cost”.

“In nowadays’s sector, 20thousand square ft land plots which are marketing lesser than $Forty mil are constricted in source,” he shared as quoted by Straits Times.

This is simply in view of the $86 mil procurement of a house associated with the close-by Queen Astrid Park Good Class Bungalow community by Chew Shou Zi, the Chief Executive of Chinese video-sharing application TikTok.

The amount translates to roughly $2.704K psf accorded to the land surface area of about Thirty One thousand Eight hundred sq feet.

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