With overwhelming news to all media, BBR Holdings (S) Ltd exercised a call option on 25th of May 2017 to purchase the four-storey, Goh & Goh Building at Bukit Timah Road for S$101.5 million.
Alika Properties Pte Ltd, a 62% owned unit of BBR development Pte Ltd. exercised the call option, and in turn, it had been the fully owned property of the parent firm.
BBR Holdings happily remarked in his statement after the buy that the site will yield a fine set of retail shops at the ground floor along with a hundred units of residential accommodations, where the gross permissible floor area will be of 92,622 sq ft (8,604.9 sq m).
Located at the intersection of Jalan Jurong Kechil and upper Bukit Timah Road, Goh & Goh Building enjoys the triple road facades with an explicit 60-meter frontage onto the main road.
This is an excellent opening for the redevelopment of the property for a brighter prospect and potentiality. For the all other features and standpoints, the building has been conceptualized into a modern residential development as well as highly visible retail level. This has been bought with a thought of a brighter expectation.
Along with the bank-loans, the capital injections by Alika Stockholders made the successful acquisition process of Goh & Goh Building.