3 Prime Freehold Building Sold for $190.5 Million

3 prime freehold building sold near orchard road

3 prime freehold building near Orchard Road exchange hand recently for $190.5 million in total. This 3 building is owned by 3 investment holding company believed to be from a trust operating in Britain. 

A consortium led by Sustained Land bought 3 Cuscaden Walk for $103.8 million which have a land area of 21,560 sqft with a plot ratio of 2.8. An estimation of $1826 (psf ppr) including a development charge of about $6.43 million. 

120 Grange Road was bought by Singapore-listed property and hospitality group Roxy-Pacific Holding for $48.5 million. A total of strata area 26,350 sqft in a land area 15,780 sqft. 

The last building and also the smallest among them is 8 Hullet Road, was sold for $38.2 million or $2,073 psf. The buyer for this building is Hullet Development, a consortium led by Mr Patrick Kho of Lian Huat Group.

The result of this tender exercise reflects "confident in the stability of the high-end residential market which, prior to this year, saw a steady decline in values over the preceding four years" said Mr Singh from JLL.