Tuesday, September 26, 2006
[RealEdge] BT : Sim Lian buys Olivio site
| Published September 26, 2006  | |
| Sim Lian buys Olivio site MAINBOARD-LISTED Sim Lian group has acquired a residential development in Surrey Road for $29 million, or $750 per square foot per plot ratio (psf ppr). No development charge is payable. The four-year-old project, called Olivio, has a land area of 13,808 sq ft and is next to a site that Sim Lian bought last year. Olivio, made up of 33 apartments, was sold by private treaty through marketing agent Newman & Goh. The agent's press release said that by combining the two sites, Sim Lian will have a much larger plot of 51,002 sq ft with a plot ratio of 2.8. This site can accommodate about 95 condominium units of about 1,500 sq ft each. Separately, Sim Lian said yesterday it has so far sold 50 per cent of its latest condominium project, Bleu at East Coast. The 62-unit project was launched at the weekend at an average of $593 per sq ft. Sim Lian is offering a deferred payment scheme under which the first 5 per cent of the deposit is payable on booking and the second 5 per cent within eight weeks of booking. The next 10 per cent is payable in December 2007, along with other progress payments due. |
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