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

The GCB at Second Ave owned by the creator of folded away enterprise Hin Leong, Lim O.K and his better half Tan S.E, has already been marketed for $Thirty Three point Thirty Nine million.

It gotten obtained by Ng Poh Choo, other half of Tan Yeow Khoon, the previous EC of Cogent Hldgs, The Straits Times ST.

Cogent Holdings has been removed in 2K18, following its $Four hundred Eighty Eight million possession by Cosco Shipping International (SGP).

Midtown Bay Floor Plan

ST mentioned that the $33.39 mil deal for the 19thousand 9hundred 84 square foot property calculates to $1,671 per sq foot.

“The customer put up a deposit yesterday and has not opted whether to rebuild the residence,” Mary Sai, Executive Dir of Capital Markets at Knight Frank S’pore, the freehold residence’s promoting and marketing representative, advised Straits Times

The Bt Timah real estate, which is on a court-ordered asset freeze instruction, was launched available for sale by tender that ended on 30September.

Just before the launch of the offer, the real estate received a $Thirty One mil offer. Previous year, it got revealed that the Good Class Bungalow obtained its first deal at $Twenty Seven million.

The offer introduce happened as Hin Leong’s judicial managers-turned-liquidators– that in May got a Mareva order to suspend the possessions of Lim family world-wide as much as a value of US$ Three point Five billion– required the transaction experience being “visible and very transparent to a large network of prospective buyers”, reported Sai.

Steve Tay, Snr Associate VP of List Sotheby’s, detailed the $Thirty Three point Three Nine million deal as “a reasonable deal”.

“In right now’s market, 20,000 square ft land plots which are selling off lower than $40 mil are limited in supply,” he reported as mentioned by The Straits Times.

This remains in view of the $86 mil procurement of a residence within the neighboring Queen Astrid Park Good Class Bungalow location by Chew S.Z, the President of Chinese video-sharing app TikTok.

The amount translates to roughly $Two thousand Seven hundred Four psf accorded to the land size of approximately Thirty One thousand Eight hundred sq ft.

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