Cairnhill Heights sold en bloc for $72.6 mil
By Bong Xin Ying
/ EdgeProp |
Cairnhill Heights condominium has been sold en bloc for $72.6 million to the 60-40 joint venture company between Tiong Seng Holdings and Ocean Sky International, TSky Development. The condo was launched for collective sale with an asking price of $80 million in December 2017.
Located in prime District 9 with a site area of about 15,408 sq ft, Cairnhill Heights is zoned “Residential” with a gross plot ratio of 2.8. The site may be redeveloped into a residential development of about 42 units based on an average size of 95 sq m (1022.3 sq ft). It is situated within the prestigious Cairnhill enclave, within walking distance of the Newton MRT station and Anglo-Chinese School (Junior).
TSky Development will set up a project company to undertake the redevelopment of the site.
In 2017, TSky Development bought Sloane Court Hotel and a small, adjoining parcel in Balmoral Road for $80.5 million. It is developing a 12-storey, 80-unit condominium on the site.
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