Ocean Sky to acquire Nim Drive property for $4.2 mil

SINGAPORE (May 25): Atlantic Sky Investment, a wholly-owned subsidiary of property group Ocean Sky International, yesterday exercised the option to acquire a 999-year leasehold property at 6 Nim Drive from its vendor, Teddy Yap, for a purchase price of $4.175 million.

In a Thursday premarket statement, the group says intends to redevelop the property, which has a land area of approximately 456.1 sq m, for sale.  

No formal valuation of the property was conducted as the purchase price was arrived at on a willing buyer-willing seller basis.

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