60-year-old leasehold property sold for $780k via auction

It sold at 20% above its opening price.

A 60-year-old leasehold property was sold for $760k through an auction at 20% above its opening price.

Huttons headed the mortgagee sale of the 1,701 sq ft unit at Ark @ Gambas. Ark @ Gambas is a nine-storey 60-year leasehold B1 ramp-up factory along Gambas Avenue.

ALSO READ: Jalan Besar freehold coffeeshop up for sale with $28m guide price

“There are not many 60-year leasehold industrial strata units in the market and that was one of the key reasons why it received 27 bids and was knocked down at 20% higher than its opening price,” James Wong, Head of Sales & Auction at Huttons Group said.

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