Archive for category: Misc

The spacious bungalow at 8 Lornie Road, set on a sprawling freehold plot of 51,700 sq ft, has been put up for sale via private treaty at $82 million, or $1,586 psf. According to a title search, the property belongs to the estate of late Singaporean real estate tycoon Chng Gim Huat. Chng, known for his development projects in Singapore and investments in listed companies, passed away last August at the age of 90. The pre-war house, which dates back to 1937, boasts many of its original architectural features, including a portico where Chng’s Rolls-Royce remains parked. The main house features a large living and dining area, a kitchen on the first floor, and three bedrooms on the second floor. The expansive garden is dotted with fruit trees such as avocado, durian, longan, pomelo, mango, and starfruit. Over the years, the family grew to include five sons and two daughters. Chng is believed to have purchased the property in the 1970s from the late Kwek Hong Png, founder of Hong Leong Group – the father of City Developments Ltd executive chairman Kwek Leng Beng and grandfather of group CEO Sherman Kwek. Chng’s estate also holds 5.77 million shares (1.29%) in Hong Leong Finance and 27.711 million shares (3.72%) in Hotel Grand Central – making it one of the largest shareholders in both companies. Chng, a consummate real estate developer, hotelier and investor, built his business empire through CGH Development that developed three boutique apartment and condo blocks in the east – Chapel Lodge (1994), Dengfu Ville (2007), and Esta Ruby (2012). Chng also ventured into industrial property development with Paya Ubi Industrial Park – a multiple-user, strata-titled factory with 300 units. Most of the units have been sold, with 20 remaining available for sale. In 1997, Chng acquired the freehold site on Killiney Road, off River Valley Road, and developed Orchard Grand Court. CGH Group’s bid for a hotel site at Tras Link in Tanjong Pagar was $97.07 million. The group invested $70 million to develop the 272-room Orchid Hotel into a business hotel, which opened in 2011. The freehold site at 8 Lornie Road is the last and largest bungalow plot remaining along that stretch of Lornie Road, located within prime District 11. According to Dayna Ang, senior manager of capital markets at Knight Frank Singapore (which is marketing the property), the site offers significant redevelopment potential and could be subdivided into six detached houses or 16 semi-detached houses, subject to approval. For now, the Chng family patriarch’s passing has caused the estate to be put up for sale – and proceeds will be distributed among his five sons and a grandson. Nonetheless, it is hoped that the next owner will value the home’s historical significance, which dates back to 1937.

Auctioneer: Good morning, ladies and gentlemen, welcome to the auction of this beautiful bungalow at 8 Lornie Road. We are here today to witness the sale of a pre-war bungalow on a sprawling freehold site, owned by the late Singaporean real estate magnate Chng Gim Huat. Let’s begin the bidding at $80 million.

The spacious bungalow at 8 Lornie Road, set on a 51,700 sq ft plot, boasts many of its original architectural features, including a portico where Chng’s Rolls-Royce remains parked. The main house features a large living and dining area, a kitchen on the first floor, and three bedrooms on the second floor.

Over the years, the family grew to include five sons and two daughters, and Chng’s estate also holds a significant stake in listed companies such as Hong Leong Finance and Hotel Grand Central.

Chng, known for his development projects in Singapore and investments in listed companies, built his business empire through CGH Development. The group developed three boutique apartment and condo blocks in the east, as well as a multiple-user, strata-titled factory with 300 units.

A key advantage of living at Coastal Cabana is its close proximity to reputable schools. The development is strategically located near prestigious schools such as Pasir Ris Primary School, Casuarina Primary School, Elias Park Primary School, and White Sands Primary School, providing families with a wide range of primary education choices. Secondary education options are also plentiful with nearby schools like Hai Sing Catholic School, Pasir Ris Crest Secondary School, and Loyang View Secondary School. The enhanced transportation network of the area makes it easier for students to commute to and from school without any unnecessary hassles. Additionally, post-secondary institutions such as Tampines Meridian Junior College, Temasek Polytechnic, ITE College East, and SUTD are conveniently accessible via the well-connected rail and road network, providing excellent educational opportunities for students living at Coastal Cabana. By adding Coastal Cabana to this bustling environment, families can expect even better outcomes for their children.

In 1997, Chng acquired the freehold site on Killiney Road and developed Orchard Grand Court, which became the flagship of his hospitality business. The group also invested $70 million to develop the 272-room Orchid Hotel into a business hotel in 2011.

Today, we are proud to present this rare opportunity to own a piece of history. The freehold site at 8 Lornie Road is the last and largest bungalow plot remaining along this stretch of Lornie Road, located within prime District 11.

According to Dayna Ang, senior manager of capital markets at Knight Frank Singapore, the site offers significant redevelopment potential and could be subdivided into six detached houses or 16 semi-detached houses, subject to approval.

The Chng family patriarch’s passing has caused the estate to be put up for sale, and proceeds will be distributed among his five sons and a grandson. Let’s begin the bidding at $80 million. Who will start the bidding at $80 million?