SDB Asia, a wholly-owned subsidiary of Selangor Dredging Berhad (SDB), has acquired Cavenagh Mansions for about S$42.4 million.
This translates to around $1,025 psf ppr with a development charge of approximately S$267,000.
The freehold residential property at District 9 currently houses 21 apartment units ranging from 90 sq ft to 153 sq ft. It has a total land area of 19,813 sq ft and a potential saleable area of 41,608 sq ft.
The sale of Cavenagh Mansions does not need approval by the Strata Titles Board or High Court, as it is a fully-owned property of Teck Jin (Private) Limited.