Koh Brothers unit wins bid for Toho Mansion

Singapore

KBD Ventures, a subsidiary of construction and property developer Koh Brothers, has won the en bloc tender for Toho Mansion on Holland Road for S$120.43 million, or around S$1,805 per square foot per plot ratio. The freehold site, with an area measuring 4,427.8 sq m and a plot ratio of 1.4, can be redeveloped to a project with potential gross floor area of 6,818.7 sq m, including a 10 per cent bonus balcony area, Koh Brothers said in a filing with the Singapore Exchange early on Friday.

Zoned for residential use under the Urban Redevelopment Authority's 2014 Master Plan, the plot enjoys enjoys a high development baseline, with no development charge to redevelop the site, said the marketing agent for the site, Edmund Tie & Company, on Friday.