Thye Hong family sells Garlick Ave GCB plot

Singapore

A DEAL is said to have been entered into for an old bungalow sitting on 101,550 square feet of freehold land along Garlick Avenue.

The price is above S$90 million, but the precise price and the buyer's identity are not yet known.

Located in the Garlick Avenue Good Class Bungalow (GCB) Area, the property is large enough to be subdivided for redevelopment into five or six bungalows.

The property is being sold by some members of the Lee family of Thye Hong, which used to make biscuits.

In the last few weeks, the property has generated buzz, as BT reported last week.

A NEWSLETTER FOR YOU

Tuesday, 12 pm

Property Insights

Get an exclusive analysis of real estate and property news in Singapore and beyond.

Sign Up

After providing for roads and an electrical substation, the net land area would be smaller, at about 81,240 sq ft.

Based on the minimum plot size of 1,400 square metres (about 15,070 sq ft) stipulated as a planning norm for newly-created bungalows within Singapore's 39 GCB Areas, the Garlick Avenue property would yield fiv…