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Former HUDC estate Serangoon Ville sold en bloc

27 July 2017

Privatised HUDC estate Serangoon Ville in Serangoon North Avenue 1 has been sold to an Oxley Holdings-led consortium for $499 million. The buyer, joint venture firm Oxley Serangoon, comprises partners including Oxley Holdings, Lian Beng Group, Apricot Capital and entities of KSH Holdings and Heeton Holdings.

The consortium also has to pay $195 million in estimated charges to top up the lease to 99 years and intensify the land use.

Sitting on a 296,913 sq ft triangular-shaped plot, it was privatised in 2014 and has 69 years of its lease left. It is near the Australian International School and the popular Rosyth School.

Read Full Article at http://www.straitstimes.com/business/property/former-hudc-estate-serangoon-ville-sold-en-bloc-for-499-million

Posted in Enbloc Sale / Collective Sale, Singapore Property News and tagged , , , , .