10 Dec '11, 12am

Henry Park Apartments sold for $176m, largest deal in 2011

Henry Park Apartments sold for $176m, largest deal in 2011

The sale of this cluster of shops and homes, opposite the highly sought after Henry Park Primary School, is the largest collective deal this year. -- PHOTO: CREDO REAL ESTATE A cluster of shops and homes at Henry Park Apartments has been sold for $176 million, the largest collective sale deal this year. Far East Organization outbid four other developers with its offer of about $1,258 per sq ft (psf) per plot ratio (ppr) for the 64-unit development off Holland Road. This assumes a gross plot ratio of 1.4. Each of the 48 apartment owners can expect gross sales proceeds of between $2.3 million and $2.9 million while the 16 shop owners will reap between $3.2 million and $4.7 million each. The 999-year leasehold development in prime district 10 is popular among residents for its chocolate cake and bike shop and is located opposite the highly sought after Henry Park Primary Scho...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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