Oxley Garnet, a unit of Oxley Holdings, has exercised options to purchase a 99-year leasehold residential development in Yio Chu Kang Road for $8.4 million. Zoned for residential use, there are 6 apartments sitting on 14,136 sq ft of land at the site and Oxley Garnet plans to redevelop the property, subject to approvals. The apartment units are currently vacant and are conveniently located close to Serangoon Gardens.
The transaction will be funded by internal resources and bank loans. The owners of the units have been paid $126,000 each with the remainder to be paid by November 23 which is when the sale is expected to be completed.
Find out more about this sale at the Straits Times website
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