Henry Park site sold for S$175.9m

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Kentish View Pte Ltd, a unit of Far East Organization (FEO), has acquired a mixed-use site at Henry Park, off Holland Road for around S$175.9 million, making it the biggest en bloc deal in terms of value this year.

According to its marketing agent Credo Real Estate, the District 10 site attracted a total of five bids. If the application is accepted, Credo said the land rate could translate to approximately S$1,246 psf per plot ratio.

With a land area of around 100,000 sq ft, the 999-year leasehold site comprises 16 shop units and 48 apartments.

Upon approval of the sale by the Strata Titles Board, each apartment owner is expected to receive between S$2.3 million and S$2.9 million from the sale proceeds, while the shop owners can each pocket between S$3.2 million and S$4.7 million.

The Henry Park sale exceeds the Hong Leong Garden Shopping Centre en bloc deal, which was sold for S$171 million in September.

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