Sophia View, a five-unit residential improvement in District 9, has been marketed in June to a personal investor, which makes this year’s initial residential collective sale, reported Business Times.
While advertising representative SRI refused to disclose the specific purchase price for your house, it shared that every unit will get approximately $2 million.
SRI co-founder and managing director Bruce Lye explained the purchaser is getting the property from his name, while”keeping his options open”. The purchaser will evaluate afterwards if to redevelop the website or apply for possible change of usage.
“Fundamentally with this particular investor, he also sees the possible upside of the region and value of this property and can be taking a long distance perspective of this current market,” he explained.
The grand en bloc marketplace has stayed relatively silent despite many new and relaunched tender.
The final such trade were the Phoenix Heights, that was sold to a member of OKP Holdings at August 2018, and Waterloo Apartments, offered to Fragrance Group for $131.1 million in November, said Christine Li, head of research to Southeast Asia in Cushman & Wakefield.