News

Bbr Buys Goodrich Park Site For S$86 Million

The Board of Directors of BBR Holdings (S) Ltd (the "Company") wishes to announce that it has entered into a Sale & Purchase Agreement to acquire a plot of freehold land at 2A/B/C/D Simon Lane for S$86 million. The Group aims to develop a low-rise condominium project on the 9,076.9 sq m (97,703 sq ft) site which currently houses Goodrich Park Condominium.

The site can potentially be developed into a 5-storey condominium comprising about 120 units of around 1,200 sq ft each. The development project is targeted to be launched sometime in end-2011. Purchase of this site will be funded by the Group's internal resources and bank borrowings.

There is no material financial impact on the earnings per share or net asset value per share of the Group for the current financial year ending 31 December 2010 arising from this transaction.

None of the directors or substantial shareholders of the Company has any interest, direct or indirect in the transaction.

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