FREEHOLD condominium Wing Fong Mansions in Geylang has been launched for collective sale with a reserve price of S$176 million, marketing agent PropNex Realty told The Business Times (BT) on Wednesday.
It is up for tender along with an adjacent condo, Wing Fong Court, which was also put on the market two weeks ago at a reserve price of S$108 million.
At least 80 per cent of the owners at Wing Fong Mansions have given their consent for an en bloc sale, lead property consultant Richard Hau from PropNex told BT.
The 130-unit, eight-storey property is located at 12 Lorong 14 Geylang and has a total strata area of around 142,149 square feet (sq ft).
The Wing Fong Mansions site spans a land area of 47,880 sq ft, while the Wing Fong Court site occupies 29,334 sq ft.
Also a freehold condo, Wing Fong Court houses 88 units across eight storeys. It is located at 10 Lorong 14 Geylang and has a total strata area of about 87,791 sq ft.
Both sites are zoned for commercial or institutional use with a plot ratio of 2.8, under the Urban Redevelopment Authority’s Master Plan 2019.
Together, they make up “one of the largest and most promising land sites in Geylang”, Mr Hau said.
The tenders for both Wing Fong Mansions and Wing Fong Court close at 4pm on May 18.
Law firm Tan & Au LLP is carrying out the collective sales of the two properties.