SINGAPORE - A house owned by the descendants of Tan Tock Seng in Cuscaden Road, just off Orchard Road, has been sold for $145 million.
Shun Tak Holdings, founded by gambling tycoon Stanley Ho, said in a satement today (May 23) that it had won the tender for the "prime freehold site located at No. 9 Cuscaden Road" through its wholly owned subsidiary Sun Tak Real Estate (Singapore).
The 25,741 sq ft freehold site was put up for sale by the three sons of its late owner, Mr Tan Hoon Siang, who was a great-grandson of philanthropist Tan Tock Seng.
The site is zoned for hotel use, although the Urban Redevelopment Authority (URA) has said it would consider a proposal for a 20-storey residential project, My Paper reported last month.
Shun Tak said that it is now at "a preliminary stage of planning" and will announce more detail "in due course".