Marketing agent PropNex Realty informed that the adjacent condominiums Wing Fong Mansions and Wing Fong Court will be put up for tender on Tuesday, with an indicative land pricing of S$1,280 per square foot per plot ratio (psf ppr) for the combined sites.
The two freehold homes in Geylang were put up for collective sale by PropNex in January of this year, with the tenders originally scheduled to finish on May 18. The government’s limitations on the number of attendance at meetings in the wake of the Covid-19 outbreak, however, caused the bids to be postponed.
According to PropNex consultant Richard Hau, “We’ve gotten strong verbal indications of interest from a Middle Eastern conglomerate as well as local developers for Wing Fong Mansions and Wing Fong Court.”
Inquiries concerning a prospective change of use that would allow the sites to be turned into a nursing home have been made with the Urban Redevelopment Authority (URA) and the Singapore Land Authority by Tan & Au LLP, the lawyers for the collective sales of both properties, according to Mr. Hau. Any such application, if made, is subject to Ministry of Health clearance.
Both freehold properties are now zoned for institutional or commercial use with a 2.8 gross plot ratio.
The Wing Fong Court site is 29,334 square feet smaller than Wing Fong Mansions, which cover 47,880 square feet of ground.