Roxy Pacific Associate Acquires a 999 Year Leasehold Residential Site For $23m
Mequity Hills has entered into an agreement to acquire a 999-year leasehold residential site (the “Acquisition”) comprised within Lot 99458P and 99470L of TS 21 at 10A and 10B Institution Hill, Singapore (“10A/B IH”) at the purchase price of S$33,600,000. The said 999-year leasehold residential site has an estimated total land area of 8,761 sq ft and has a plot ratio of 2.8 under the 2019 Master Plan for residential development. Mequity Hills intends to amalgamate 10A & 10B with another 999-year leasehold site at 11 Institution Hill (“new site”) after it exercises the Option To Purchase issued on 1 February 2021 to acquire the new site. The amalgamated site will have an estimated total land area of 14,300 sq ft with a total Gross Floor Area of 40,040 sq ft for residential development – Hill House
Source: Business Times
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