BBR unit snags Goh & Goh Building for S$101.5m in collective sale

IN what is this year's first collective sale involving a mixed-use property and the second collective sale, a unit of BBR Holdings (S) is acquiring Goh & Goh Building for S$101.5 million.

The call option was exercised on Thursday by BBR's subsidiary Alika Properties Pte Ltd, which is 62 per cent owned by BBR Development Pte Ltd, a wholly owned subsidiary of the group.

The four-storey freehold property, which sits on 2,868.3 square metres of land area at Upper Bukit Timah Road, is zoned residential with commercial on the first storey. It has a plot ratio of 3.0.

Subject to Alika's payment of a development charge, the site can potentially yield about 100 residential units and a level of retail shops on the ground floor, taking into account the permissible gross floor area of 8,604.9 square metres.

Earlier this month, Lum Chang Holdings snagged 2017's first collective sale of a residential development - One Tree Hill Gardens near Orchard Road for S$65 million.