09 Jun '11, 2am

Historic Marine Parade bungalow sold for $104 million to developer Far East Organization

Historic Marine Parade bungalow sold for $104 million to developer Far East Organization

The 'seaside' bungalow occupied by Japanese officers during World War II and an adjoining site were both owned by the family of businessman Choa Kim Keat. -- PHOTO: CREDO REAL ESTATE A HISTORIC Marine Parade bungalow has been sold for $104 million to developer Far East Organization after a five-way contest, setting a new benchmark land price for the area. The single-storey conservation house and an adjoining site with a combined land area of 47,400 sq ft - roughly half a football field - fetched a price of $1,195 per sq ft (psf) per plot ratio (ppr). The land parcel consists of two parts: one is the bungalow plot itself, fronting Marine Parade Road; the other fronts East Coast Road and has a three-storey block of six flats and servants' quarters. Marketing agent Credo Real Estate said that the last transaction in the Amber Road vicinity was Amber Towers in April, which ach...

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

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cpf.gov.sg 09 Jun '11, 11am

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