Singapore Companies
Published February 12, 2007

SP Tao firms to develop adjoining sites

SP TAO'S Shing Kwan Group and BBR Holdings are teaming up to develop two adjoining plots at St Martin's Drive they bought last year. The joint venture will be 52:48 owned by Shing Kwan and BBR.

The duo will redevelop the combined site, with a freehold land area of 34,854 sq ft, into a five storey luxury residential development with attic and basement carparks with a 1.4 plot ratio. The development will comprise about 16 triplex units, each with an average size of about 4,000 sq ft. The project is slated for launch in Q2 this year.

BBR and Shing Kwan bought their respective sites under separate deals last year.

BBR paid $17.4 million for its site of about 15,500 sq ft at 21 St Martin's Drive, on which currently stands a bungalow.

Shing Kwan paid $29.25 million for the 19,335 sq ft St Martin's Lodge plot at Nos 17 and 19, St Martin's Drive.