The development at 21 Anderson Road, last rebranded in 2010 as Royal Oak Residences, was sold by Far East Consortium to Kheng Leong Group for $213m, in September 2021.
The property has changed hands five times since 2008. It started with Hillcrest Capital’s en bloc purchase of the building, then called Anderson House, for $106.5 million in January 2008.
In 2018 Far East Consortium paid $196 million to purchase the property from American private equity firm Blackstone.
Kheng Leong may hold the asset for rental income and at the same time leave the option for redevelopment.
The development at 21 Anderson was earlier purchased by Far East in June 2018 for $196m
20 Sep 2021
HONGKONG-LISTED Far East Consortium International Limited (FEC) announced on Friday night that it has entered into a sale and purchase agreement to sell 21 Anderson, a 10-storey freehold condominium block of 34 units, for S$213 million.
The buyer is a unit of Kheng Leong Group, the private real estate arm of the family of veteran banker and UOB chairman emeritus Wee Cho Yaw.
18 Sep 2021
Hong Kong-listed Far East Consortium International controlled by the Chiu family, announced on Sept 17 that it has signed a sale and purchase agreement to sell the 34-unit 21 Anderson for $213 million. The buyer is Kheng Leong Co., the privately held property investment and development arm of the Wee family led by former banker and tycoon Wee Cho Yaw.
16 Sep 2021
HONGKONG-LISTED Far East Consortium International Limited is close to selling 21 Anderson, a 10-storey completed freehold block of 34 apartments in Singapore's prime district 10.
BT understands the price is about S$213 million and that the buyer is Singapore-based Kheng Leong Group.
Far East Consortium, controlled by the Chiu family, bought 21 Anderson in 2018 for S$196 million from Blackstone, which in turn purchased it from Arch Capital in 2014 for about S$164 million, based on past media reports.
The 34 apartments in the development comprise three and four-bedroom units with a total strata area of 85,552 sq ft; the units are substantially leased.