Image Source: AsiaOne
A privately-owned company controlled by Wing Tai Holdings chairman Cheng Wai Keung and his wife, Helen, has sold a sprawling bungalow property at 33 Nassim Road for S$230 million. The price reflects S$2,721 per square foot (psf) based on the freehold land area of 84,543 sq ft. The couple do not reside at the bungalow. The buyer is SG Casa Pte Ltd. A company search showed its principal activity description classified as trustee, fiduciary and custody services firms. Property searches showed that the contract date for the 33 Nassim Road transaction was May 10 this year, with the transfer of the property to the purchaser registered on July 4. In absolute price terms, this is the biggest transaction in a Good Class Bungalow (GCB) Area, toppling S$105.3 million paid last year by Tony Tung, the Singaporean chairman of Hong Kong-based Winson Group, for a bungalow on 42,515 sq ft of freehold land, also along Nassim Road. In terms of psf on land area, the S$2,721 psf on land area for 33 Nassim Road is among the highest achieved in a GCB Area.