This week in property: Highlights from Nov 26 to Nov 30

By Rachael Tan / EdgeProp | November 30, 2018 3:35 PM SGT
Property highlights of the week from Nov 26 to Nov 30:
Goodluck Garden was sold en bloc to Qingjian Realty as it had submitted the highest bid at the close of the tender in March (Photo Credit: Knight Frank)
The collective sale of Goodluck Garden received the go-ahead at the High Court on Monday, Nov 26. The 210-unit freehold Goodluck Garden on Toh Tuck Road was sold en bloc to Qingjian Realty, which submitted the highest bid of $610 million at the close of the tender in March this year. In April, Perennial Real Estate Holdings became a co-developer with a 40% stake in the joint venture with Qingjian.
The court was informed to obtain an order by Nov 26, failing which the purchaser who has entered into a sale and purchase agreement to buy the property “may treat it as rescinded”. Hence, the oral judgement was rendered first.
Golden Wall Centre is located at the doorstep of Rochor MRT station on the Downtown Line
The freehold Golden Wall Centre has been sold en bloc at $276.2 million, reflecting a land rate of $2,331 psf per plot ratio. The prime commercial property was purchased by City View Holdings, a wholly owned subsidiary of Worldwide Hotels. Worldwide Hotels’ portfolio includes the Hotel 81 chains. The sale was brokered by Edmund Tie & Company (ET&Co).
Golden Wall Centre has a land area of about 24,239 sq ft, and is zoned for commercial use under the 2014 Master Plan. An outline application for hotel use at the existing approved gross floor area of about 118,489 sq ft, reflecting equivalent...