KSH Ultra Unity (KSHUU), the 49%-owned associated company of SGX-listed KSH Holdings, has been awarded the tender for Euro-Asia Apartments at 1037 Serangoon Road on July 26.
The tender for the collective purchase of all the lots and the common property comprised in the strata title plan will be made at a purchase price of $222.2 million.
The freehold Euro-Asia Apartments has a land area of approximately 56,476 sq ft with a maximum allowable gross floor area (GFA) of 158,132 sq ft.
KSHUU says it intends to redevelop the property into a new residential development with around 172 residential units.
The completion of the purchase is subject to the fulfilment of applicable terms and conditions.
KSHUU is also owned by H10 Holdings and SLB Development, who each hold stakes of 36% and 15% respectively.
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Shares in KSH Holdings closed flat at 35 cents on July 26.
