Big‑Bucks Bungalow on Second Avenue
From Oil Mogul’s Loss to a Squash‑Fit Dream Home
The once‑glorious oil‑trading titan Lim Oon Kuin and his wife Tan Sook Eng have finally put their prized Good- Class Bungalow (GCB) on the market, pulling the plug on a place that’s as shiny as a freshly polished jet.
Who’s Buying?
Ng Poh Choo – the wife of former Cogent chief Tan Yeow Khoon – steps in as the new owner. Cogent, a logistics giant, was scooped up by Cosco Shipping International (Singapore) for a cool $488.07 million and has been quietly off the Singapore Exchange since 2018.
Price Tag Pizzazz
Spanning 19,984 sq ft at $33.39 million, the price per square foot sits at a swanky $1,670.84 psf. Features that make this unarmored palace irresistible include a garden that could host a pop‑up zen‑golf course, a shimmering pool, a generous car porch, and a basement squash court for those late‑night reflex tests.
Sale Route – Tender Mayhem
- Knights of the real‑estate realm, Knight Frank, ran a tender that wrapped up on 30 September.
- The staging set a $34 million asking price, yet the final sale sealed at $33.39 million.
- Earlier, a $27 million offer fell flat amid financial turbulence, and a $31 million bid came before the tender started.
Neighbouring Nods
- Earlier this year, a 14,667 sq ft GCB on the same street fetched $30 million – a value of about $2,045 psf.
- In the same month, Razer CEO Tan Min Liang splashed out $52.8 million for a dazzling GCB on Third Avenue, the neighbor’s neighbor.
While the hill of high‑end real‑estate appears steep, the legacy of the sale is a reminder that luxury houses can go through seismic shifts – just as oil-rich fortunes can tumble. The house now finds its next chapter, hopefully with a family who can keep up with that squash court’s demanding back‑hand shots.
