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View Full Version : MacPherson Green site sold



mr funny
26-03-11, 01:58
http://www.todayonline.com/Business/Property/EDC110311-0000219/MacPherson-Green-site-sold

MacPherson Green site sold

04:46 AM Mar 11, 2011


SINGAPORE - A consortium of four companies has agreed to acquire the MacPherson Green site for S$105 million via a collective sale tender.

They include niche property developer Heeton Holdings, together with KSH Holdings, TEE International and Zap Piling.

Heeton will own 40 per cent of the project, KSH will take 25 per cent, TEE International will hold 20 per cent and Zap Piling will take the remaining 15 per cent.

The freehold land parcel has an area of almost 67,000 square feet and a plot ratio of about 2.1. The new development can be built up to 24 storeys to become a landmark in a vicinity of low-rise buildings in District 13.

The firms said in a joint statement that the purchase price of the site worked out to about S$750 per square foot per plot ratio, including the development charge.

Heeton says the acquisition is in line with its effort to strengthen its position in the mid to high-end residential property market.

The group is also planning to launch a project at a prime site along Killiney Road soon.