Oxley buys Geylang property from Huang Clan Association for $13 mil
By Angela Teo
/ EdgeProp |
Updated, Feb 8, 2018, 2:36 p.m., to update the article following ET&Co's press release on Feb 8.
On Feb 5, Singapore property developer Oxley Holdings entered into a sale and purchase agreement with Huang Clan Association to buy a 99-year leasehold estate in Geylang for $13 million.
Located at Lorong 35 Geylang, the property – which has historically been the association's headquarters – will be redeveloped into an eight-storey, mixed-use development named Sixteen35 Residences, says Oxley.
(Credit: ET&Co)
The development will comprise the association’s premises at the second and third storeys, and residential flats from the fourth to eight storeys. It will also have car parking space, a swimming pool, and other communal facilities.
Sixteen35 Residences will sit on land area of 23,892 sq ft. Under the 2014 Master Plan, the site is zoned for “Residential/Institution” development with a gross plot ratio of 2.8. Based on the Master Plan stipulations, the new project could have a total gross floor area of 66,898 sq ft.
Oxley says that it will transfer the association’s units — with floor area measuring 22,500 sq ft — to the association’s representatives following the completion of the redevelopment. The association is slated to move back come 1H2021.
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles