WORLD Class Land, a subsidiary of listed Aspial Corporation, has bought a cluster of 18 freehold shophouses fronting Joo Chiat and Onan roads for $25.63 million.
‘The transacted price reflects $410 per square foot on the existing gross floor area of 62,489 sq ft. Upon redevelopment, the property may have the potential of achieving a gross floor area of 81,000 sq ft,’ said Credo Real Estate managing director Karamjit Singh, whose firm handled the sale of the properties through a tender that closed last week.
The seller is a family trust.
The properties comprise two back-to-back rows of nine units of three-storey shophouses with a site area of Continue reading
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