If the deal goes through, it’d be the most high-priced GCB based on the complete selling price since July 2015, reported The Business Times.
Now, there are two existing properties on the site, which measures 27,228 sq ft. There’s a nicely, although there is no swimming pool.
The buyer is apparently Darwin Indigo, Wilmar International’s Deputy Country Head for Indonesia. He is also the nephew of the firm’s Executive Deputy Chairman, Martua Sitorus.
According to William Wong, Realstar Premier Group’s Managing Director, the buyer will probably redevelop the property at a cost of $7 million to $8 million. It may reach $10 million depending on the specifications.
Yet, he noted that Kingsmead Road isn’t a generally sought-after GCB location when compared with nearby Leedon Park and Belmont Road, as acreage tracts there come in various sizes, with some ft.
That said, Kingsmead Road is an attractive location for people looking to buy a bungalow. It’s also close to Nanyang Primary School.
If the transaction proceeds as intended, it’d be the biggest GCB deal since a home in Queen Astrid Park changed hands for $32 million ($1,169 psf) nearly a year ago.
Do check out Forestwood Residences, the upcoming development at Lorong Lew Lian