Yi Mei Garden sold for S$136m
Roxy-Pacific Holdings, through its unit RH Draycott Park, has acquired Yi Mei Garden, a freehold residential site along Tampines Road, through a collective sale for S$136 million or S$856 psf ppr.
The sale price also includes a development charge of over S$4 million and will be funded by internal funds and bank borrowings.
The site currently houses a 14-storey residential block with 44 apartments and four penthouses completed in 1984. Located near the Kovan MRT Station, it offers a total land area of 78,030 sq ft with a plot ratio of 2.1, and is zoned for residential development under the 2008 Master Plan.
"The Acquisition is subject to and conditional inter alia upon the obtaining of an Order for Sale from the Strata Titles Board or the High Court (as may be necessary) approving this sale," the company noted.
Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg
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