31 Jul '14, 9am

#GlobalREBubble #ChinaBubble #Singapore 'Chinese Firm To Revamp Bottle Tree Park' @SGPropertyGuru

Yishun’s Bottle Tree Park is set to close next month, after its current management was outbid by a Chinese firm, which plans to turn the seven hectare site into a leisure park with more F&B options and activities like fishing and camping, according to media reports. “The project aims to be a comfortable, natural and relaxing getaway,” said Wang Bo, Managing Director of Fullshare International Group, a China-based firm which clinched the site’s lease with a bid of $169,000 per month. In comparison, the current management submitted a bid of $68,000, while the rental guide issued by the Urban Redevelopment Authority stands at $72,200 a month. Fullshare is expected to spend $5 million to refurbish the site. It will also consider preserving the site’s original style, especially its natural environment, he said. For example, the park’s wooden pavilions will be kept intact and im...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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Yishun's Bottle Tree Park set to close in August

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