Lee Rubber buys property at Martia Road from convent for $28 mil

Cecilia Chow
EdgeProp Singapore

September 24, 2021



SINGAPORE (EDGEPROP) - A three-storey detached house sitting on a sprawling 19,412 sq ft, freehold site at a cul-de-sac on Martia Road has just been sold for $28 million ($1,442 psf), according to a caveat lodged on Sept 9. The sale was brokered by exclusive marketing agent CBRE.

According to a property title search, the property was owned by The Lady Superior of the Convent of The Holy Infant Jesus (CHIJ) in Penang. The buyer, Cyberpoint Capital Pte Ltd, is one of the companies under Lee Rubber Co. Pte Ltd.

Why would Lee Rubber be interested in the property? It is a great addition to its landbank, for the house at 12 Martia Road is adjacent to a property that Lee Rubber already owns: a building that sits on a land area of 60,442 sq ft, according to EdgeProp Inspector. The building now houses the campus of Odyssey The Global Preschool.

Read more at: https://www.edgeprop.sg/property-new...convent-28-mil