Bukit Sembawang buys Peck Hay Mansions for S$63.6m
By Wong Choon Mei, Channel NewsAsia | Posted: 05 June 2006 2227 hrs
Peck Hay Mansions has been sold to Bukit Sembawang for S$63.6 million.
The deal was brokered by property consultant CB Richard Ellis.
Peck Hay Mansions, in the Cairnhill area, comprises 19 apartments built on a freehold site measuring 32,277 square feet.
This means the deal was priced at S$796 per square foot.
In a statement, CB Richard Ellis says all the Peck Hay owners agreed to the sale and they will receive almost double what they could have got if they sold their flats individually.
The purchaser, Bukit Sembawang, had also bought a neighbouring site - The Vermont - in March.
The combined sites will have land area totalling 72,653 square feet.
They can be re-developed into a new 20-storey project with a potential gross floor area of 203,428 square feet.
That's equivalent to about 100 units averaging 2,000 square feet each. - CNA/ch