Logistics Holdings, through its indirect wholly-owned subsidiary Le Premier Development is set to acquire Minton Court (pictured) for around S$13.4 million, marking its first foray into property development.
The purchase price is around S$1,010 per sq ft, based on the site’s land area of 13,281 sq ft. The group intends to redevelop the site into high-end cluster housing development comprising six to eight units.
Located at 21 Paya Lebar Crescent, the freehold site is within proximity to the popular Paya Lebar Methodist Girls’ School, St. Gabriel Secondary School as well as the NEX shopping mall and Serangoon MRT station.
Given the site’s good location, the group expects to attract strong interest from property investors and home buyers.
The acquisition cost will be funded by bank borrowings and internal resources.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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