24 Nov '16, 2pm

Three apartment buildings near Orchard Road #Singapore sold for $190.5m

No.3 Cuscaden Walk was sold to a consortium led by Sustained Land for $103.8 million. Source: CBRE and JLL Three prime residential buildings near Orchard Road have been sold to different developers for a total of $190.5 million, marketing agents CBRE and JLL said on Thursday (24 November). The freehold properties at No.3 Cuscaden Walk, No.120 Grange Road and No.8 Hullet Road were launched for sale in October with a guide price of $185 million. The tenders closed earlier this month. PropertyGuru understands that the owners were looking to sell the three buildings individually or as one lot. The 21,560 sq ft site at No.3 Cuscaden Walk was sold to SL Capital (2), a consortium led by Sustained Land, for $103.8 million. This works out to a land rate of about $1,826 psf per plot ratio on the potential gross floor area, including an estimated development charge of $6.43 million p...

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

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