PUBLISHED Wednesday, August 30, 2017
Local property developer Oxley Holdings said on Wednesday that its wholly-owned subsidiary, Oxley Garnet Pte Ltd, has exercised its options to purchase six units at 208 Yio Chu Kang Road.
The 99 year residential leasehold property has land area of about 1,313.3sqm, which are sold for a total purchase price of S$8.4 million.
Oxley Holdings intends to redevelop the property, subject to obtain the necessary approvals from the relevant authorities.
Oxley Garnet had paid S$126,000 upon the grant of the options, and the next payment S$294,000 upon the exercise of the options. The remaining of the purchase price will be paid upon completion of the purchase on Nov 23, or on an earlier date agreed by the parties.
The purchase will be financed by bank borrowings and internal resources, Oxley Holdings said.
Source: The Business Times
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