Condo In Yio Chu Kang Sold For $62.5M

Source : TODAY, Monday, October 22, 2007

GuocoLand’s wholly-owned unit, GLL Ventures, will pay $62.5 million for the en bloc purchase of freehold Toho Garden Condominium along Yio Chu Kang Road.

It said it would redevelop the site, which has a gross floor area of 121,633 sq ft, into a 5-storey condominium with 100 units. The acquisition is expected to be completed by February 2009.

GuocoLand said it would use internal resources and bank borrowings to finance the deal.