Bankrupt trader's bungalow finds buyer

Singapore

THE freehold bungalow at 85 Branksome Road, vacated by the bankrupted managing director of spice and nut trader Pars Ram Brothers and his family, has found a buyer.

According to caveats obtained by The Business Times, the property was sold to a special purpose vehicle (SPV) called Branksome Realty 1 Pte Ltd for S$15.08 million. This was below the opening price of S$16 million at its first auction, where it had failed to land a successful bid.

This new sale price translates to about S$1,143 per square foot (psf) on the land area of 13,189 sq ft - quite comparable to another transa…