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Geylang's Wing Fong Mansions, Court en bloc tenders to open on June 23
ADJACENT condominiums Wing Fong Mansions and Wing Fong Court will be up for tender starting Tuesday, with an indicative land rate of S$1,280 per square foot per plot ratio (psf ppr) for the combined sites, marketing agent PropNex Realty told The Business Times (BT), without disclosing the latest reserve prices.
In January this year, PropNex attempted to launch the two freehold properties in Geylang for collective sale, with the tenders originally set to close on May 18. However, the tenders were deferred due to the government's restrictions on the number of attendees at gatherings amid the Covid-19 pandemic.
"We've received keen expressions of interest verbally from a Middle East conglomerate as well as local developers for Wing Fong Mansions and Wing Fong Court," PropNex consultant Richard Hau told BT on Monday.
Tan & Au LLP, the solicitors for both properties' collective sales, has made enquiries with the Urban Redevelopment Authority (URA) and the Singapore Land Authority about a potential change of use to allow the sites to be developed into a nursing home, Mr Hau said. Any such application, if made, will be subject to approval from the Ministry of Health.
At the moment, both freehold sites are zoned for commercial or institutional use with a 2.8 gross plot ratio.
Wing Fong Mansions spans a land area of 47,880 square feet (sq ft), while the Wing Fong Court site occupies 29,334 sq ft.
Wing Fong Mansions at 12 Lorong 14 Geylang has 130 units and eight storeys, with a total strata area of about 142,149 sq ft. Across the road from it sits Wing Fong Court at 10 Lorong 14 Geylang, housing 88 units across eight storeys with a total strata area of about 87,791 sq ft.
Taken together, they form a prominent combined site with a wide frontage stretching from Geylang Road to Guillemard Road.
Mr Hau said in January that there is a possibility of linking the two sites underground with a basement level and forming one integrated development, although this will be subject to URA approval of an outline application.
Both tenders will close on Aug 6.