Cavenagh Mansions sold to SDB Asia for S$42.4m

Freehold residential property Cavenagh Mansions has been sold to SDB Asia for S$42.4 million.

Property consultancy Knight Frank said this translates to a land price of S$1,025 per square foot per plot ratio on the potential saleable area of 41,608 square feet.

SDB Asia is a wholly-owned subsidiary of Selangor Dredging Berhad (SDB).

SDB is a property development and management group listed on the main board of Bursa Malaysia.

Cavenagh Mansions sits on a land area of 19,813 square feet.

The district 9 site currently comprises 21 apartment units with sizes ranging from 90 to 153 square feet.

The development charge is estimated at S$267,000.

Cavenagh Mansions is fully owned by Teck Jin (Private) Limited, and the sale therefore does not need approval by the Strata Titles Board or High Court.

Source : Channel NewsAsia – 16 Jul 2010

COMMENTS