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Indonesian family in exclusive due diligence to buy 22 units at Draycott Eight: sources

Price being negotiated said to be nearly S$168 million, or nearly S$2,570 per square foot on a total strata area of 65,401 sq ft

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Kalpana Rashiwala

Kalpana Rashiwala

Published Fri, Jun 10, 2022 · 06:56 PM
    • Two of the 3 residential towers in the Draycott Eight condo, which was developed by Wing Tai on a 99-year leasehold site it clinched at a state tender that closed in June 1997.
    • Two of the 3 residential towers in the Draycott Eight condo, which was developed by Wing Tai on a 99-year leasehold site it clinched at a state tender that closed in June 1997. PHOTO: GOOGLE MAPS

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    A STACK of 22 apartments at the Draycott Eight condominium in prime District 10 could change hands.

    The Business Times understands that an Indonesian family is in exclusive due diligence with a view to buying the units for a total of nearly S$168 million from US-based private equity group Angelo Gordon.

    The price works out to slightly below S$2,570 per square foot, based on a total strata area of 65,401 sq ft, say sources. Draycott Eight is a 136-unit condo on a site with leasehold tenure of about 74 years left. It received Temporary Occupation Permit in 2005.

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