Lodge 77 sold for $29 mil
By Timothy Tay
/ EdgeProp |
Lodge 77, on Upper East Coast Road, has been sold for $29 million ($902 psf per plot ratio). The buyer is said to be KTC Group, whose business include civil and infrastructure works, earthwork and excavation, building construction, coal Mining and coal Trading.
(Credit: Knight Frank)
The three-storey freehold property sits on a 13,123 sq ft site, and comprises eight residential apartments as well as four retail units on the first floor. Knight Frank, which brokered the deal, says it was done through private treaty.
Under the 2014 Master Plan, the site is zoned for Residential with Commercial at 1st storey, with a gross plot ratio of 3.0. The site can be redeveloped into a four-storey residential development with retail units at the first floor, says Knight Frank. There is a building height restriction of four-storeys imposed on the site. The retail units are Lodge 77 are still tenanted and were sold with existing tenancies.
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