Stanley Ho's Shun Tak pays S$145m for prime freehold site
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
SHUN Tak Holdings, a company founded by gaming tycoon Stanley Ho, has acquired its first property here.
It is paying S$145 million for a prime freehold site at 9 Cuscaden Road, belonging to the late Tan Hoon Siang, the great-grandson of famous philanthropist Tan Tock Seng.
The site, where a two-storey grey bungalow stands now, was put up for sale by his three sons, acting as trustees for his estate.
The property has a land area of 25,741 sq ft and is zoned "Hotel" in the 2014 Master Plan, with an allowable gross plot ratio (GPR) of 4.2.
The Urban Redevelopment Authority (URA) has advised that it is also prepared to consider a redevelopment proposal into a residential development, subject to approval and payment of development charges.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
