Teo Family of Tong Eng Group sold Gloria Mansion en bloc to Fraxtor Capital for $70.3 mil

Gloria Mansion has been sold in a single transaction to a group of buyers for $70.3 millions to Fraxtor Capital and a group headed by the family offices that are run by Daniel Teo and his brother Teo Teck Weng, part of the Teo family of the Tong Eng Group.

Piccadilly Grand new launch will attract investors and homeowners who desire to live in an exciting historic neighbourhood.

The brothers also founded Hong How Group, where Daniel is the chairman as well as managing director. Daniel also serves as an investment advisor to Fraxtor.

The agreement was brokered through Strata AMC, which was appointed as the sole marketing agent. The property was listed for sale by a collective tender on the 2nd of December last year.

It is also the first fully residential collective sale that has been conducted following the addition of cooling measures that became effective in Singapore on December 16, 2021.

It is located at situated at Pasir Panjang Road. Gloria Mansion located at 292 Pasir Panjang Road, Gloria Mansion is a freehold residential project of 12 floors with 31 apartments. It is situated close the Haw Par Villa MRT Station and is easily accessible via The West Coast Highway and Ayer Rajah Expressway.

Gloria Mansion is an overall site size of 45,742 square feet with a an area size of 1.4. The floor area of the house without balcony is 64,039 square feet.

A residential project built on the site could potentially include 59 apartments. Patrick Ee, a partner at Legal Solutions LLC, which serves as the legal advisor for the collective sale states that interest on the site was extremely high.