PUBLISHED AUGUST 22, 2013 | BY FELDA CHAY | The Straits Times


OSIM founder Ron Sim is looking to sell his Bin Tong Park home for $117 million and, if successful, he could set a new record price on a per square foot (psf) basis for a property in a Good Class Bungalow (GCB) area, BT has learnt.

Mr Sim’s asking price works out to about $2,500 psf of the land area – which is made up of two plots of freehold land that together measure 46,842 sq ft.

The record price for a property in a GCB area currently stands at $2,110 psf, and was set last October, when bungalow investor George Lim sold one in Leedon Park that he completed in 2011 for $33 million. Standing on the 15,640 sq ft site is a bungalow with six bedrooms and a pool.

BT understands the built-up area of Mr Sim’s home is about 22,000 sq ft.