Wing Fong Mansions in Geylang has been put up for collective sale by PropNex Realty with a S$176 million reserve price, reported The Business Times.
At least 80% of Wing Fong Mansions’ owners have consented to an en bloc sale, revealed Richard Hau, lead property consultant for PropNex Realty.
The eight-storey, 130 unit freehold condominium occupies a land area measuring 47,880 sq ft and a total strata area of about 142,149 sq ft, while having a 2.8 plot ratio.
The site, located at 12 Lorong 14 Geylang, is also zoned for commercial or institutional use under the Urban Redevelopment Authority’s Master Plan 2019 (2019 Master Plan).
Wing Fong Court, adjacent to the Wing Fong Mansions, has also been put up for sale recently with a S$108 million reserve price.
The property is also a freehold condominium that comprises eight storeys and 88 units, with a total strata area of around 87,791 sq ft.
Located at 10 Lorong 14 Geylang, the Wing Fong Court site measures 29,334 sq ft with a 2.8 plot ratio, and is also zoned for commercial and institutional use under the 2019 Master Plan.
“Together, they make up one of the largest and most promising land sites in Geylang,” said Hau.
The tenders for the Wing Fong Mansions and Wing Fong Court ends on 18 May.