PROJECT DETAILS
Goh & Goh Building, a mixed-used development was sold to a subsidiary of BBR Holdings, Alika Properties, through a collective sales in the 2nd quarter of 2017 for S$101.5 million.
Built in the late 1980"s, this site has a land area of 28,683.7 sqm and is next to Beauty World MRT Station and near Beauty World Centre and Bukit Timah Shopping Centre. It is four-storey freehold property at 110 to 122 Upper Bukit Timah Road comprises seven apartments and seven shops. It is bounded by Upper Bukit Timah Road and Jalan Jurong Kechil. It is zoned for residential and commercial on the first storey. With an excellent 60 metres frontage, which is ideal for shops and F&B outlets, and with a revised plot ratio of 3.0. BBR Holdings will pay a state development charge of around S$15 million for redeveloping the site, This site can potentially house approximately 100 residential apartments and one level of retail shops at the ground level.
The mixed development site is in a strong growth area, with new amenities and future infrastructure being planned around it and some of the neighbouring land parcels have been earmarked for new hotels, hospitals, residential and mixed-use developments.
Taken together, it translates to a land rate of about S$1,460 per square foot per plot ratio (psf ppr) of the potential gross floor area, before factoring in the 10 per cent bonus balcony gross floor area for the residential component.
BBR Holdings is proud to present another development along Upper Bukit Timah Road, next to Beauty World MRT Station. With its good accessibility to Beauty World MRT Station and new amenities and future infrastructure being planned around it, BBR Holdings is confident that this new mixed-use development will make an excellent choice for home owners with its vast conveniences.
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| Project | New Mixed Development at Beauty World MRT |
| Developer | BBR Hoidings |
| Location | Beauty World, Uppr Bukit Timah Road |
| District | 21 |
| Tenure | |
| Site Area | 2,868.3 square metres/ 31,874.3 square feet |
| GFA: | 8,604.9 square metres/ 92,623.1 square feet |
| Plot Ratio | 3.0 |
| Expected TOP: | |
| Total Units | Approximately |
| Total Carpark | |
| Development | Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR and Foreigner |
FACILITIES and SITE PLAN
The Facilities and Site plan of New Condo at Beauty World is currently seeking approval from relevant authorities.
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RESIDENTIAL FLOOR PLANS
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SUBSIDIARY OF BBR HOLDINGS BOUGHT MIXED DEVELOPMENT GOH & GOH BUILDING NEXT TO BEAUTY WORLD MRT
BBR Holdings (S) Ltd has exercised a call option on Thursday (25 May) to purchase the Goh & Goh Building at Upper Bukit Timah Road for S$101.5 million in cash, revealed an SGX filing posted on the same day.
The call option was exercised by Alika Properties Pte Ltd, a 62 percent owned unit of BBR Development Pte Ltd, which in turn is a fully-owned unit of the parent firm.
Located near the Beauty World MRT station, Bukit Timah Shopping Centre and Beauty World Centre, the four-storey mixed-use project consists of seven shops on the ground floor and seven apartments on the upper levels.
Zoned residential with commercial at the first level, the freehold site has a land area of around 2,868.3 sq m (30,874 sq ft) and a plot ratio of 3.0.
“Subject to Alika’s payment of a development charge, the site can potentially yield about 100 residential units and a level of retail shops at the ground floor taking into account the permissible gross floor area of 8,604.9 sqm (92,622 sq ft),” said BBR Holdings in a statement.
“The site is situated at the intersection of Jalan Jurong Kechil and Upper Bukit Timah Road, and enjoys triple road frontages with a prominent 60-metre frontage onto the main road. This presents an excellent opportunity for the Property to be re-developed and conceptualised into a modern residential development with a highly visible retail level,” it added.
The acquisition will be funded by a combination of bank loans, as well as capital injections and/or loans by Alika stockholders.
Meanwhile, The Straits Times reported that the owners of the Goh & Goh Building, which was built in the late 1980s, originally asked for S$120 million when the property first entered the market last February.
The Business Times also revealed that the deal represents the first en bloc sale involving a mixed-use property and the second collective sale in Singapore this year, after the One Tree Hill Gardens near Orchard Road was bought by Lum Chang Holdings for S$65 million earlier this month.
Source: Property Guru
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