>

Tiong Seng JV rescinds option to purchase Jervois Road sites

By Angela Teo

/ EdgeProp |

November 2, 2017 5:29 PM SGT

Join our Telegram channel and follow our Facebook for the latest update.

On Nov 1, Tiong Seng Holdings’ 60%-owned joint venture (JV) company TSky (Jervois), exercised its right to rescind the option to purchase two freehold Jervois Road sites. Ocean Sky International owns the remaining 40% stake in the JV.

Tiong Seng Holdings announced on July 17 its plan to jointly acquire with Ocean Sky International the two residential sites for $21 million. The two sites have a combined site area of roughly 13,415 sq ft and a gross plot ratio of 1.4.

As the JV did not obtain the necessary redevelopment approval for the two sites from the relevant authorities, however, TSky (Jervois) has decided to rescind its right to purchase the properties, according to Tiong Seng.

Tags:

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Sapphire Windows’ Liews: Beyond providing a room with a view

2

Keeping cool in an east-west-facing house with modern glass windows

3

Far East Shopping Centre’s $908 mil en bloc deal aborted

4

World’s largest Mercure Hotel opens on Club Street

5

Luxury living in the new heart of Bukit Timah

Our Site

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.