Private firm of Cogent chairman said to be buying Ridout site

Singapore

A PRIVATELY-HELD vehicle controlled by logistics and real estate tycoon Tan Yeow Khoon has been tipped as the likely buyer of 35 Ridout Road. Market talk is that he is expected to walk away with the 73,277 sq ft freehold site for slightly over S$90 million.

At S$90 million, the price works out to S$1,228 psf on land. The property - which is located within the cul-de-sac of Ridout Road, Swettenham Road and Peel Road - is nestled in a tranquil environment among lush greenery.