Dragon Mansion sold for $100.8 mln

Dragon Mansion at 18 Spottiswoode Park Road has been sold to Roxy-Pacific Holdings Limited’s wholly-owned subsidiary, RL Developments Private Limited, for $100.8 million or $863 per sq ft per plot ratio (inclusive of development charge).

This is the first collective sale site sold this year.

Roxy-Pacific had in Oct 2009 entered into an agreement to acquire the collective sale site at $100.8 million, conditional upon the obtaining of the agreement by 80 per cent majority of the owners to the sale price.

The said 80 per cent majority agreement has now been obtained, said CKS Property Consultants, which brokered the sale.