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Belmont Road GCB takes 3rd stab at mortgagee sale

14 Sep 2019 09:00

By Fiona Lam

A GOOD class bungalow (GCB) at 80 Belmont Road, owned by The Stratech Group's Chew family, will be relaunched for auction next week with a lower guide price of S$39 million, marketing agent Knight Frank Singapore said on Thursday.

The auction will be held on Sept 18 at 2.30pm at Amara Hotel, Level 3.

The new guide price works out to S$1,444 per square foot (psf), based on 27,000 square feet (sq ft) in freehold land area.

This will be the third sale attempt for the property. It failed to sell at the first auction in July with a S$42 million guide price, or S$1,556 psf. It was later relaunched via private treaty in August at S$40.8 million, or about S$1,511 psf.


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Source: Business Times
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