In Guillemard Area, 5 terrace houses are purchase by Macly Group
Five terrace houses in the Guillemard Road/ Lorong 28 Geylang are bought by MACLY Group with the price nearly S$20.55 million.
The five properties - comprising 331, 333, 335 and 339 Guillemard Road and 56 Lorong 28 Geylang - are on total freehold land area of 12,839 sq ft.
The price works out to around S$700 per square foot per plot ratio.
The land is zoned for residential use with 2.8 plot ratio (ratio of maximum gross floor area to land area), based on the Urban Redevelopment Authority's Master Plan 2014.
Macly Group founder and managing director Herman Chang told The Business Times, ""We have approval to redevelop the site into a part-eight storey, part-five storey project with 47 apartments. We plan to begin redevelopment in the first half of next year." Lorong 28 Geylang condo is expected to attract both home-buyers and investors.
Macly is making the acquisition through a fully-owned subsidiary.
Through a private treaty deal, five two-storey terrace houses were bought. In mid-June, the transaction is expected to be completed.
Additionally, the group also acquired some properties, such as Riviera Point along Kim Yam Road (through a S$72 million collective sale) and nine single-storey shophouses at the corner of Telok Kurau Road and Changi Road, acquired for S$35.5 million.
The Telok Kurau site will be redeveloped into a five-storey residential development (with attic) that will house 46 residential units, seven shops, a basement carpark and a rooftop pool, as an outline planning permission.
Macly is established in 1987. The group has developed residential and commercial projects in Singapore. Besides that, the group also coporated with mainboard-listed Roxy-Pacific Holdings for various projects. Infinitum in Kuala Lumpur which comprises 723 small office home office (SoHo) units and 31 shop units slated for completion in 2020 is an example for this corporation.
Hotels are other businiess aspect of Macly. Last October, the group opened Cara Cara Inn in Kuta, Bali. Later this year, Lloyd's Inn in Seminyak, Bali will be opened, too. Mr Chang said that "We also plan to open a Lloyd's Inn in Yogyakarta". Its Lloyd's Inn Singapore, at the Lloyd Road and Oxley Road junction, is already operating. Macly is also developing a Lloyd's Inn in Kuala Lumpur, slated to open in 2019.
Its Lloyd's Inn Singapore, at the Lloyd Road and Oxley Road junction, is already operating . Macly is also developing a Lloyd's Inn in Kuala Lumpur, slated to open in 2019.
Macly Group is famous with various projects in Singapore and Malaysia. In Singapore, the noticeable new launch projects is Guillemard Road condo which has the strategic location and many amenities nearby. Please take a look at Location to know about this golden location and kindly contact us if you have any concern.
Adpated from The Business Times, May 23, 2018
