City Developments Limited (CDL)’s Chief Investment Officer Sherman Kwek has acquired a Good Class Bungalow (GCB) located near the junction of Jervois Road and Tanglin Road for $18.8 million, according to media reports.
This translates to about $1,247 psf on land area of around 15,073 sq ft.
Nestled on an elevated, triangular-shaped freehold site, the two-storey bungalow has a built-up area of about 7,600 sq ft and is said to feature a small swimming pool as well as six en suite bedrooms.
Kwek is said to be purchasing the property from a couple and exercised the option for the acquisition last month.
Caveats information showed this would be the fourth time the bungalow is changing hands over the last 11 years. It was previously transacted in 2003, 2006 and 2007.
38-year-old Kwek is the son of Kwek Leng Beng, Executive Chairman of Hong Leong Group Singapore and CDL.
Image source: Google Maps
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
Related Stories:
Woodlands Central to have new retail and food complex
Yishun to undergo massive transformation