Kismis Lodge sold for S$84.8m in collective sale

Kismis Lodge, a freehold residential development located at Lorong Kismis in Upper Bukit Timah, was successfully sold to Newfort Alliance (Cairnhill) Pte Ltd for S$84.8 million.

The sale price translates to S$1,198 per square foot, or a gross sale price of about S$1.3 million each unit.

Brokered by property consultants Jones Lang LaSalle, this is the third en bloc sale deal completed this year.

“The ample living space within a landed property appeals to multi-generational families,” said Yong Choon Fah, National Director of Investments at Jones Lang LaSalle.

“Despite the few rounds of property cooling measures, the demand for landed developments are expected to be fairly strong because the target market for landed developments are mainly Singaporean families,” Ms. Yong added.

Built in the 1970s, Kismis Lodge comprises 64 units of walk-up apartments housed in two 4-storey blocks.

Source : Channel NewsAsia – 25 Mar 2013

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