{"id":48111,"date":"2022-02-07T15:04:05","date_gmt":"2022-02-07T07:04:05","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=48111"},"modified":"2022-06-13T17:57:52","modified_gmt":"2022-06-13T09:57:52","slug":"freehold-bungalows-bought-3-different-companies-buyers","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/freehold-bungalows-bought-3-different-companies-buyers\/","title":{"rendered":"Freehold bungalows bought by 3 different companies and buyers recently\u00a0"},"content":{"rendered":"
<\/div>

Three different transactions of freehold bungalows were made recently. Two of them were for sites at Gilstead Road.<\/p>\n

According to this report<\/a> from The Business Times, Peak Vista of Kheng Leong Company has bought two bungalows for S$70 million in Gilstead Road. The two properties occupy a site area of 43,457 sq ft, translating to S$1,611 psf.<\/p>\n

\"Gilstead<\/a>
Gilstead Road bungalow bought by Kheng Leong. Image credit: Edmund Tie<\/figcaption><\/figure>\n

Kheng Leong is the private real estate arm of the family of UOB chairman emeritus Wee Cho Yaw.<\/p>\n

According to a press release<\/a> by Edmond Tie on the tender exercise of the bungalows, the asking price was S$91.8 million. The site is zoned for residential use and can be redeveloped to build up to 56 residential units, subject to planning approval.<\/p>\n

A further check by 99.co<\/a> on the transactions records found that the deal was closed in December last year.<\/p>\n

The other Gilstead Road bungalow sale was closed last month on 5 January. It was sold to an entity owned by Melvin Poh, founder of property developer Fission Group, and his brother Jason for S$17 million. With a land area of 10,505 sq ft, this translates to S$1,618 psf.<\/p>\n

\"Gilstead<\/a>
Gilstead Road bungalow was bought by an entity owned by Melvin and Jason Poh. Image credit: Google Street View<\/figcaption><\/figure>\n

According to report, the plan was to redevelop the plot into two three-storey bungalows with an attic.<\/p>\n

Coincidentally, another freehold bungalow was sold on the same day in Meyer Road for S$32.68 million. With a land area of 25,526, this translates to S$1,280 psf.<\/p>\n

\"Meyer<\/a>
Meyer Road bungalow bought by son of Ng Cheng Chuan. Image credit: Google Street View<\/figcaption><\/figure>\n

It is reported that the buyer is the son of property developer Ibraco\u2019s chairman Ng Cheng Chuan. The option to purchase was granted a year ago but was only exercised last month. The report also mentioned that the property is believed to be redeveloped for the family\u2019s own occupation.<\/p>\n

Do you have any property transaction stories to share? Let us know in the comments section below or on our Facebook post<\/a>.<\/h2>\n

If you found this article helpful, 99.co recommends Fragrance Group boss bought a bungalow in Caldecott Hill GCB area for S$981 psf<\/a> and Singaporean in his early 30s bought 6 semi-Ds put up for sale by Lee family of OCBC for S$43.18m.\u00a0<\/a><\/p>\n

Looking for a property? Find the home of your dreams today on Singapore\u2019s fastest-growing\u00a0property portal\u00a099.co<\/a>! If you would like to estimate the potential value of your property, check out 99.co\u2019s Property Value Tool<\/a>\u00a0for free. Also, don’t forget to join our Facebook\u00a0community page<\/a>! Meanwhile, if you have an interesting property-related story to share with us, drop us a message\u00a0here<\/a>\u00a0\u2014 and we\u2019ll review it and get back to you.<\/p>\n","protected":false},"excerpt":{"rendered":"

Three different transactions of freehold bungalows were made recently. Two of them were for sites at Gilstead Road. According to this report from The Business Times, Peak Vista of Kheng Leong Company has bought two bungalows for S$70 million in Gilstead Road. The two properties occupy a site area of 43,457 sq ft, translating to…<\/p>\n","protected":false},"author":111,"featured_media":48120,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"no","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53593,53912,57131],"tags":[55319,56955,56956,56957,55207],"persona":[],"class_list":{"2":"type-post","15":"entry","16":"has-post-thumbnail"},"acf":[],"yoast_head":"\nFreehold bungalows bought by 3 different companies and buyers recently\u00a0 - 99.co<\/title>\n<meta name=\"description\" content=\"Three different transactions of freehold bungalows were made recently. 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