SG$ 1,600,000
Central Region
2 bed · 2 bath · 958 m²
Southbank is the first 99 years Leasehold property lease top up by SLA. UNITED Overseas Land has emerged as the top bidder for Eng Cheong Tower, with an offer above the reserve price, sources told BT. A deal has yet to be inked but assuming the property fetches $46 million, the price works out to about $233 per square foot of potential gross floor area. That includes development charges (DC) and a premium to top up the site's lease to 99 years. There are 65 years remaining on the leasehold site along North Bridge Road, and it could cost an estimated $8.5 million to top it back up to 99 years.…
Listed by directhome