House of Tan Yeok Nee sold to entity linked to Bachtiar Karim's family

NATIONAL monument House of Tan Yeok Nee has been sold for an undisclosed amount to an entity linked to the family of low-profile Indonesian tycoon Bachtiar Karim.

The Business Times understands the property was sold below the asking price of S$92 million but above S$85 million.

The property, a gazetted national monument at the junction of Penang Road and Clemenceau Avenue, was put up for sale via expression of interest (EOI) in October 2021. Its indicative price translates to about S$1,573 per square foot, based on a strata floor area of about 58,480 square feet (sq ft), said exclusive marketing agent Savills Singapore at the time.