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1 Draycott Park sold to Malaysian developer for $72.3 mil

Property

1 Draycott Park sold to Malaysian developer for $72.3 mil

PC Lee Published on Thu, Jun 08, 2017 / 4:37 PM GMT+8

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KUALA LUMPUR (June 8): Selangor Dredging Bhd’s indirect 50%-owned unit, Champsworth Development has accepted an option to acquire 1 Draycott Park at Orchard Road for RM223.2 million ($72.3 million).

In a filing to Bursa Malaysia on Thursday, Selangor Dredging said the freehold property measured about 0.16ha with an existing seven-storey apartment building.

"The purchase consideration for the property was agreed upon on a willing buyer and willing seller basis, after taking into consideration the potential for development of exclusive mid-rise apartments and the close proximity to Ardmore Park and Orchard Road," says Selangor Dredging.

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1 Draycott Park sold to Malaysian developer for $72.3 mil

Property

1 Draycott Park sold to Malaysian developer for $72.3 mil

Primary tabs

Error message

1 Draycott Park sold to Malaysian developer for $72.3 mil

Property

1 Draycott Park sold to Malaysian developer for $72.3 mil

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