[UPDATE] BHL factories in Mandai Estate sold to Chiu Teng Group for above $130 million, 81% higher than guide price last year
By Cecilia Chow
/ EdgeProp Singapore |
BHL Factories at Mandai was put up for sale last year at a guide price of $72 million (Photo: Knight Frank)
SINGAPORE (EDGEPROP) - Word on the street is that BHL Factories, located at 2A and 2B Mandai Estate, off Woodlands Road, have been sold to real estate and construction firm, Chiu Teng Group just two days ago. The purchase price is said to be above $130 million, according to sources. SRI is said to have brokered the sale, but could not be reached for comment.
The transacted price is about 81% higher than the guide price of $72 million indicated by marketing agent Knight Frank when the six freehold, strata terraced factories were put up for sale by expression of interest a year ago. When contacted, Knight Frank declined to comment. Chiu Teng Group likewise declined to comment for the story.
Location of BHL Factories at Mandai Estate (Source: EdgeProp Inspector)
BHL Factories have a combined strata area of 61,193 sq ft and sit on a freehold site of 80,287 sq ft with a plot ratio of 2.5 under the URA Master Plan 2019. The site can be redeveloped into a new industrial building, with strata-titled industrial units for sale given the strong demand for industrial space, according to sources.
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